How Is Unemployment Linked With Poverty

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Yuvraj Suri- Employment How has Unemployment been linked with poverty in past few years? Unemployment lies at the core of poverty. For the poor, labor is often the only asset they can use to improve their well-being. Hence the creation of productive employment opportunities is essential for reducing poverty and it is crucial to provide decent jobs that secure income for the poor. As the rate of unemployment increases the poverty would also increase as the people’s wants would increase. GLOBAL PRESPECTIVES. The present education system of India is not serving the purpose for which it has been started. India is the second highly populated countries after China and this has led to rush and competition in each and every field. Many private…show more content…
No Education or illiteracy. This is a simple and best logic. If a person is educated there is only a minor chance for him to be unemployed. But in many poor countries people have to suffer being unemployed. That is why people in many countries have started projects to stop this poverty. No education means unemployment and unemployment means poverty. This is a cycle that the poor people go through. Economic Inflation. Inflation is one of the oldest causes of unemployment. The economy faces a steep rise in prices as compared to other economies of the world. This leads to failure in exports as companies are not able to compete with others due to rise in price. Incomes suffer, people 's savings fall and gradually companies start firing people, being unable to pay them on due time. Thus, the rate of unemployment increases. Future Scenarios It is obvious that if unemployment continues to increase in future, Poverty would rapidly increase and this would not be a good situation for the LEDC’S as People would die of Hunger. This can be a bad state for the future generation as they would have nothing to live for. Desperate people will resort to crime to have the basic necessities of life. Depression and illness could be brought on by trauma. The list can go on, This is why People now have to understand and get their kids educated so that they can have a good future.
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