“When large numbers of men are unable to find work, unemployment results”
Indeed Calvin Coolidge has rightly highlighted one of the major socio-economic issues which humans face in the societies. The phenomenon of unemployment occurs when an individual becomes unable to find work during his/her active search. The health of a country’s economy is measured through it. An unemployment rate, provides an objective measure about the number of unemployed individuals. It is obtained when a number of those individuals who are unemployed are divided with those who are currently working in the labor force (investopedia,n.p,). Man is a social animal and since the beginning of time he has been living in some sort of social setup. With the passage of time these unorganized assortments evolved in to proper clans and tribes. This laid down the foundation of civic society. When these societies expanded, they started facing various socio economic viles. Unemployment is one of them. It is a socio-economic problem. A socio economic problem occurs when the social and economic variables do not work along side each other in a specific cultural, ideological and regional apparatus.
The types of unemployment includes frictional, structural, cyclical and seasonal. these vary according to the circumstance a society encounters. And accordingly required relevant response is required to cater the specific type.
Impact of unemployment on society:
Unemployment can impact the society in many ways. The impacts vary from economic to family. Unemployed money have less money to spend, further the businesses also get slowdown in this scenario. Unemployment disturbs the social order as when people have no money to spend on their necessities the family system gets disturbed. And such a situation leads to crimes. Unemployment also breeds corruption and other socio-economic issues such as terrorism etc.
The Impact of Unemployment on individual:
There are numerous researches that measure the well being of an individual on various indicators, one such indicator is employment. Other subjective measures incude the health either physical or mental, job satisfaction etc. further, the individual is employed in a temporary job or a permenant job also matters. This effects the life satisfaction of an individual. The absence of a job which can ensure the attainment of basic necessities of life can make an individual an insecure person. The insecurity breeds the lack of confidence and it is said that a hungry man is an angry man. The evil of poverty can only be encountered by providing employment opportunities to the individuals living in that society. Because, in the absence of adequate employment opportunities these individuals may be inclined towards crimes and other terrorist activities. They can be easily attracted towards the negative vibes and to cause the chaotic activities in the society.
There can be certain solutions which can be opted in order to remove and to counter the evil of unemployment. One of the best way to solve any problem is to deal with the main cause of it. The main cause of unemployment is poverty and lack of education. Education includes skills set which a person requires to earn a livelihood at a very basic level. Thus by providing proper education which is aligned with the requirements of one society can help eliminate unemployment. Further, over population can also lead to unemployment, because the society does not possess enough resources to feed it citizen. When the resources exceed the spending the result is chaos. Thus there are two ways to solve this issue one is to reduce population as was the strategy adopted by China called “one Child Policy”, in the other scenario a country suffering from increased levels of unemployment must raise the level of growth and must create enough job opportunities for its citizen. Moreover, high age of retirement can be a solution to solve the problem of unemployment.
The reports have shown in recent years in US and warn the country about the looming retirement crisis, in such scenario, this options seems more viable. Because the state is responsible for its citizen and on the other hand the increased age of retirement might cause the fresh and educated people to wait for their turn. Finally, at times the influx of foreigners in one country increase the burden on that country to manage the huge population base, such contingent issues must be solved in order to avoid the worst levels of unemployment. It is the duty of the state to reduce unmployement in a country and strengthen the education system on equal basis. Equal employment opportunities must be ensures in the society in order to eliminate the disparity among the gender which is one of the major hindrance in the economic growth and the improper utilization of resources. The state must work for the technical and vocational institutions and must also work for the various skill programs. These programs must be aimed to increase the entrepreneurial skills among the individuals so that the intensity and the gravity that may be caused because of unemployment may be reduced. The state must work for the maximum utilization of resources. The maximum benefit from the globalization must be attained. The increase in the foreign direct investment can bring more avenues of employment as more multinational companies may invest in the country.
In a nut shell, unemployment is one of the very major socio-economic issues, faced by any society. there are various types of unemployment which require customized treatment according the specific customized settings in which this problem is being faced. It impacts an individual, society and an economy as a whole. Finally, in order to curb the evil of unemployment the root causes such as poverty and excessive population must be addressed by providing education, maximum utilization of resources and proper planning.
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