What are the causes of rising unemployment in the world

 

I’ve been thinking about the trend of unemployment and how it has impacted different countries and also the people around them. And, I must say that this is a valid question which many people are asking themselves as well.

To get an idea of what I mean, let us consider two factors:

First, I want to talk about the current state of employment in most countries in the world. After all, there are different kinds of job markets and different parts of a country have their own characteristics for various jobs. But if we were to look at the same trend, we would see clearly that the vast majority of nations are not happy with their present situation either. So, there’s a very strong connection between the economic situation and unemployment rates. If you think about this statement, you definitely find it true for most of the developed and developing countries of the world.

Also, as I mentioned earlier, our planet contains resources such as oil, minerals, coal, etc. which are being used by humans. These resources help to make life possible. On the other hand, due to rapid development, these resources are becoming more expensive than they were before. And to make sure that we can survive for a long time, we need to reduce or minimize the use of these resources. That’s why people don’t want to just cut down on the use of natural resources and try to save money. They also want to keep the world in balance and ensure that no single person is left out.

These two kinds of factors are playing against each other.

While discussing the rate of unemployment, we obviously see that both developing and developed countries are facing difficult times. Also, developing states are faced with problems when it comes to finding skilled workers and thus it becomes difficult to create new jobs. People here do search for better-paying jobs, but unfortunately, these jobs are beyond their reach now or perhaps within the next few years. Because of this, so, the number of unemployed people increases.

Now, if we look at other areas like agriculture and construction, I am pretty sure that these two industries are equally affected by the level of unemployment and poverty. Not only can’t people earn enough to stay alive, but also there are some jobs which are very hard to get. Such jobs include plumbers and electrical engineers. Both those jobs can be challenging. It is very important for us to look for ways to improve their productivity. However, doing so would require a lot of money and time and some people aren’t able to handle it due to poor financial conditions. Hence, in order to solve this problem, people will have to sacrifice some essential goods.

And while talking about the agricultural sector, it is not too bad when comes to agriculture, but still, the growth of the population is making things even worse. When we compare GDP to the total area, we see that agricultural sectors of developing countries are suffering badly at present.

Because of these reasons, people in developed countries have started questioning why the situation is not much different here. In the international market, people from various countries come together to discuss the issue of unemployment and find solutions to this problem. To my mind, I strongly believe that the reason is that we live in one of the most unequal societies in the world. And that makes the issue of unemployment so much worse. Even though the people on our planet are fortunate enough to have jobs and lots of opportunities, however, due to excessive income inequality, it becomes almost impossible to find out what kind of job is really worth living, right?

I am personally not very aware of this matter. All I know about it is that it has gotten me interested in studying economics. But then again, I don’t know much about the subject. Maybe because of this, people who want to pursue a career in the field of economics have, to study different fields like political science and psychology or something similar. Well, I am personally very open to learning the topic, but I am afraid that if I take a course in economics then it would be more theoretical than practical.

When it comes to this discussion, I would like to mention two points that might help a little bit towards understanding what I mean. First, let us assume that these two main reasons, lack of jobs and insufficient demand, aren’t valid for everyone. For instance, some countries are facing problems related to agriculture. Those who are struggling against hunger might face scarcity issues. Now, there are several countries that are dealing with such challenges and who are willing to offer some benefits to the citizens. This is not wrong and the whole community should help those who are dealing with hunger. Otherwise, those citizens would end up starving.

On the other hand, speaking of politics, as I said earlier, the society of nations is getting very poorer and a good number of social evils are spreading. There are many anti-social elements in society, which lead to increasing unemployment rates. I mean, when people can’t find jobs, they look for any other way to earn money. And they do this to become rich. Thus, those who are losing their jobs have to give a piece of the pie back to the nation. That is exactly how we got the idea of capitalism and the system of big corporations which exists today. Unfortunately, the politicians of the nation are trying to push citizens towards having a lot of freedom and giving everyone the opportunity to have a good job. And then, a great mass is introduced to it and they start believing that maybe this way isn’t beneficial. As a result, unemployment rates rise and people suffer in silence.

Now, let’s analyze the education sector and the impact and nature of unemployment on students’ future.

One of the major purposes of the Education system is to provide students with knowledge and skills in order to gain experience, develop self-confidence, participate in social life and increase personal and professional development. As everyone knows, nowadays, those who are going through certain difficulties and hardships, don’t have confidence that anything like this can be done in their lives. Instead, they look for support and support, they start searching for ways to get rid of the problem and stay in the same spot that they were in the beginning. A good number of students at universities are suffering from not having any proper academic background and therefore those students can’t perform well in exams. And, by default, they won’t qualify to enroll in any degree programs at institutions in the future. Therefore, they can’t enter into any college programs either. We can see that students at university are desperate for any kind of education. Students are looking for any kind of information about any courses that are available and looking for ways to get admission into schools or colleges. Some of them are simply looking for some extra cash just to fill their tuition fees. That could be considered the perfect case of unemployment because the economy of the nation depends on higher qualified employees. Why doesn’t anyone care about having a certificate and certificate holder instead of having someone who is qualified? Isn’t that how unemployment works?

To sum up, this post has been helpful for many people who are looking forward to studying Economics, Business, Marketing, or Law. Hope it helps you and may even inspire you in your future studies. Thanks for reading!