Unemployment Essay: Unemployment Essay is an important topic for students to comprehend due to its implications on the economy and society. Unemployment can be defined as a condition where individuals do not have a job and are available for work during the said period. Today, unemployment has many causes – from the introduction of new technologies and innovations to markets and regulation.
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Unemployment Essay in India
Nonetheless, unemployment is bad for economic growth in the long term. Moreover, at the individual level, unemployment has the potential to erode self-esteem. It can also result in failure to meet the various financial obligations of the individual – such as payment of mortgage or rent.
Consequently, this can lead to eviction of the individual and his family or other drastic repercussions. From an academic perspective, Unemployment Essay is an important topic and students have to practice thoroughly.
Unemployment Essay 300 Words
What is Unemployment?
According to the Bureau of Labour Statistics (BLS), a person is said to be unemployed when they do not have a job, though they have actively looked for work in the last four weeks. Moreover, these individuals were temporarily laid off and are waiting to be called back to that job However, the exact definition may vary.
For instance, not all people who are jobless are considered unemployed. Some leave the job market as they are retired, have kids, acquire disabilities or other responsibilities that stop them from working.
What are the Causes of Unemployment?
Unemployment has many causes, the most prominent ones are:
- Displacement of jobs as a result of new technologies or innovations
- Government policies
- Markets and regulation
- Currently, the coronavirus outbreak has slowed down the economy and threats millions with unemployment
What are the Implications of Unemployment?
Prolonged unemployment causes economic inequality. In the long run, unemployment also has the potential to slow down economic progress. It can drive people to poverty and also directly contribute to increased crime rates. On an individual level, unemployment can erode morale and self-esteem.
Moreover, individuals cannot meet their financial obligations, which can result in drastic repercussions such as foreclosure or eviction. Unemployment can also affect the physical and mental health of an individual – it can increase the risk of cardiovascular diseases, depression, anxiety and other illnesses. In some individuals, unemployment can result in addiction to stimulants and drugs. It can also encourage a latent and sedentary lifestyle, which drastically increases the risk of diseases such as diabetes and blood pressure.
Unemployment may be unavoidable. Some economists also believe that unemployment has some “benefits” – the primary benefit being the pool of individuals readily available for hire. It has also been speculated that unemployment averts inflation – by providing a reserve of labour, thereby keeping wages in check.
Resolutions and Initiatives
India provides unemployment allowances for citizens under certain ages (30 for men and 35 for women). However, their total family income must be less than INR 2,00,000 to be eligible for this scheme.
Other measures include programs such as Nehru Rozgar Yojana, Integrated Rural Development Programme and the Prime Minister’s Integrated Urban Poverty Eradication Program.
Conclusion on Unemployment Essay
True full-employment is an ideal benchmark but is mostly unachievable in the real world due to the ever-changing political and economic landscapes. However, trying to refresh and update our skills is one effective way of safeguarding our jobs.
Unemployment Essay 200 Words
Unemployment is a serious issue that plagues not only India but the whole world. The global population has grown rapidly in the last few decades, however, there are not enough jobs to provide employment opportunities to all.
What is the Meaning of Unemployment?
Unemployment is a situation where individuals do not have a job though they have actively searched for it in the recent past. It can also refer to individuals who were laid off and are waiting to be called back to their job.
Types of Unemployment
Unemployment can be classified into many types:
- Casual Unemployment
- Chronic Unemployment
- Cyclic Unemployment
- Disguised Unemployment
- Educated Unemployment
- Frictional Unemployment
- Open Unemployment
- Seasonal Unemployment
- Structural Unemployment
- Technological Unemployment
Causes of Unemployment
Unemployment is caused due to many reasons. In most cases, seasonal occupation and slow economic growth are the most common causes of unemployment. Other causes include:
- New process/technology
- Vast population
- Required skills by the employers are not present in the candidates
- Global conflict/ other crisis
Unemployment has many consequences – it can affect the economy and growth of a nation. At the individual level, it can cause so many problems from financial crises to physiological and psychological problems. It can also lead individuals to a life of crime as they have no other source of income.
Conclusion on Unemployment Essay
The problem of unemployment is widespread, however, it can be curbed by resolving other underlying problems such as a population and skill gap.
FAQ’s on Unemployment Essay
What is unemployment?
Unemployment can be defined as a condition where individuals do not have a job and are available for work during the said period.
What are the causes of unemployment?
Unemployment results from the following factors:
- Inventions and technological innovations
- Competition due to globalization
- Disruptive policies
- Changing markets and regulation
- Global crisis (such as conflict, war, pandemics)
How does unemployment affect individuals?
Unemployment can bring down the morale and self-esteem of individuals. It can also cause some individuals to pursue unlawful activities to make ends meet.