Page 107 - E-Synergy 2019-20

UNEMPLOYMENT

“It’s a recession when your neighbor losses his job, it’s a depression when you lose

yours”.

In societies in which a majority of the citizens are able to earn a living by working for others,
being unable to locate and obtain a job is a very serious problem.. Unemployment refers to a
situation in which a skilled and talented person wants to do a job; but cannot find a proper job

due to several reasons.

Unemployment is a very serious issue not only in India but in the whole world. The various
types of unemployment include disguised unemployment, seasonal unemployment,
technological unemployment, etc. Some factors that lead to unemployment is slow industrial

growth, fall in cottage industries, technological advancement, overpopulation and lack of
proper skills. Many people mostly youth population are facing this problem because of tough

competition all around. Mostly people are attracted towards the same profession which has
limited availability of employment. It has become a threat to global economic well-being and
social development. Unemployment has led to increase in crime rate, poor standard of living,

loss of skill, mental health issues and slow economic growth. The international labor

organization estimates that 178 million women and men are officially counted as unemployed

in 2007and another billion or more.

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