Unemployment And Its Impact On The Pakistan Economy Essay

problem at hand is the rising rate of unemployment. This problem must be dealt with

Unemployment has tremendous social and economic costs through all economies. It is the direct and indirect cause of many social and economic problems. In capitalist economies, families and individuals are responsible for earning, or providing, with whatever material and tools they have in their disposal. In all industrialized and developing economies, most workers do not have the ability to provide for the means of survival on their own, but instead must obtain their needs by selling their own power of labour into the market. Without selling themselves into the working environment, individuals may face financial insecurity that can soon result into poverty and indebtedness. This may also cause different kinds of criminal activity around the world due to an individual’s struggle on becoming employed.

Once a you become unemployed, however, you become powerless, desperate for any source of an income. Once in this position, an individual is likely to take a job which is below their capabilities and for less pay.  The difference in class and standing continues to increase. Those with money have the luxury of waiting for a job that strikes their interest, not just a job to make minimum wage.  They can wait until an appropriate job comes up or they can further their education to improve their position even more. Economically, the world is entering into a new phase in which fewer workers will be needed to produce the goods and services for the global population.  For most of the modern era, people's worth has been determined by the value of their labor and skills.

In this kind of unemployment, people usually suffer from country’s economical situations. Even people with good and healthy jobs undergo with crisis and loss their jobs just because of country’s economic policies don’t adapt changes and don’t have ability to adapt changes.

Unemployment is a serious and overwhelming problem in the United States that has existed since the economy of this nation began. The clear definition of unemployment is the condition of being out of work or actively looking for a job. Currently, many people around this great country are out of work, where the unemployment increased. Unemployment can be caused naturally or unintentionally by various factors, such as inadequacy of skills needed for the job or getting laid off. In turn, the causes of unemployment will obviously result in a variety of effects which can be psychological and economical that can be positive or negative for society and the economy. From this, the effects that occur when unemployment transpires can result in advantages

“Unemployment is high (8.3% of the working population, with youth unemployment alone now at over 1 million” Unemployment doesn’t just effect an individuals financial status and social economic group. Unemployment can cause and aggravate mental health. Unemployment can lead to financial difficulties many people struggle with state benefits being their only source of income. The unemployed have constant battles to settle bills and purchase necessities with often turning to pay-day-loans and credit cards. Unemployment can lead to person belonging and housing

In the United States, nearly all of the citizens are trying to look online or the newspaper to find jobs, so they can’t get nutritious food, medical care, have warm clothing, and have a roof over their heads. Half of the unemployed people are homeless, they are going through the smelly, dirty trash bins to get food in their stomachs and also their kids (if they have any). They are live in small,brown, moldy cardboard boxes or sleeping wherever they can to survive. There are about 5.5 percent of people in America that are employed even with a college degree, however, “people who lack high school diploma or GED make up a quarter month 2014 to date” (Bolen). Unemployment is the one of the biggest poverty problems in America. But what is unemployment? Unemployment is described as when people are looking for job within the past four weeks and can’t find work, however, it can also mean an economic condition that is marked by the fact that individuals actively seeking jobs remain unhired (Unemployment Definition). Unemployment affects the United States economic system, and the society in this nation.

Today we face one of the top 10 world botherations “ Lack of Economic Opportunity and Unemployment.” In the United States 4.9% of the people are unemployed or are inadequacy of economic opportunities.

Unemployment is unfortunately a large social problem in society today. Being unemployed can mean that people are unable to pay rent or feed their family; two things that are essentially vital to living. When a large amount of people are unemployed, it has extensive economic and social effects, including homelessness. Jackson & Crooks quote that ‘you don’t live when you are unemployed-you exist’. Being unemployed can lead to not only financial stress but can lead to increased social isolation, crime and

Unemployment Rate: most of the companies can not afford to suffer from fixed cost like employees’ salary, this is caused by the truth that full-time workers are forced to become part-time,

This paper is about how the high unemployment rate has an affect on the economy. The high unemployment rate had an affect on the Gross Domestic Production as well how it had an affect on the economy as well. This paper covers when the Gross Domestic Production went up the unemployment rate had gone down as well. The high unemployment rate also had direct ties to the economy, because if people are not working they are not going to spend money on house hold goods which is what drives the economy.

Unemployment has been a trend in past few years. The statistics suggests that the jobless rates are significantly higher than the opportunities at stake, and this has been the greatest downfall for the youngsters

The recent unemployment rate figures and chart below were extracted from ABS and trading economics for Australia.

The second macroeconomics variables we choose is unemployment rate. Based on the materials shown above, among 2004 to 2008 years, the unemployment rate decrease which means the many people get the job during these years. Unemployment rate can be resulted when the employees leave their job to find a better one. Another reason causes the unemployment is the unemployed persons lack the skills or experience to obtain a job. Moreover, the youth who just graduated need longer time for seeking a suitable job that fits their new skills and qualifications. These show the in short-period of unemployment situation. Among these years, the local economy in good condition which had founded many companies such as utilities companies, financials companies, industrials that create many job opportunities. The foreign direct investment increase also creates the job opportunities in Australia. The high level of Australia exports of goods and services within these years results the good economy condition in Australia, the unemployment rate decline each year.

Unemployment is a problem faced by all nations only that it varies in degree (Teichova & Matis, 2003). Reduction in its levels promotes economic growth and development in any country. There are various types of unemployment which include voluntary unemployment, involuntary unemployment, frictional unemployment, cyclical unemployment, structural unemployment and seasonal unemployment. Voluntary unemployment is where workers willingly leave the jobs they are holding and go to look for better ones. Involuntary unemployment on the other hand is where workers are fired or laid off from their jobs and need to find new ones. Frictional unemployment is where workers take some time before they can secure a job after leaving a certain job. This is a type of unemployment faced by many people since they leave jobs without having already secured new ones. Cyclic unemployment is the type of unemployment that is dependent on economic cycles of recession and boom (Cogley & Sargent 2005). As the economy enters into recession, some companies respond by cutting on the level of production hence laying off workers since they are not in full production. Cyclic unemployment naturally ends during boom. Structural unemployment on the other hand is the type of unemployment where some labor markets have more workers than the total jobs available (Jena, Kandalam & Sun, 2009). Also, it can occur where the