Factors Contributing to Unemployment
A mind unemployed, is a mind enjoyed John Christian Bovee (2014). In the past few centuries, Unemployment has been growing tremendously in our society directly proportional to time. The factor is becoming day by day more acute. The five types of unemployment discussed are seasonal, frictional, hard-core, structural and cyclical. Certain factors contributing to unemployment are discussed in this paper and also steps to curb the issue are outlined with an aim of arriving to a solution of this age old problem.
The economic concept involving unemployment is quite simple. When an economy is growing and is in expansion, unemployment is usually falling, but when an economy is in recession, unemployment is usually raising although often in lag. Unemployment as defined by the international labor organization is evident when people actively look for employment in the past four consecutive weeks without success. Seasonal unemployment occurs when there are certain times in the year that certain positions are not available due a change in the taste of consumers along the year, hence production of certain commodities are put on hold. The second type of unemployment is frictional when an individual opts to change his job constantly due to dissatisfaction at the workplace, or in search of greener pastures. The third unemployment type is hard-core unemployment which results in a person being willing to work but certain factors like chronic illnesses hinder his ability to work efficiently and effectively hence he ceases to work due to such conditions. The fourth is Structural unemployment is as a result of structural change in both the micro and macro economy, the management might opt to do away with certain departments, or due to the organization’s policy to adopt new technology, certain employees might be laid off from work . The final one is cyclical unemployment which is as a result of recession in the economy, where by the company gets outweighed by the expenses and opts to do away with some employee’s in order to save the company from expenses that may result to closure. Some of the factors resulting to unemployment is fierce competition in the open market as people with better and impressive credentials and also a good presentation have a higher change of getting employed. The obsolete syllabus in some of our educational system is also a factor as most of the graduates are not trained in the current trends in order to be competent to the market demands. Social factors also play a major role in contribution to unemployment as cases of crime are seen as individuals fail to meet their daily expenses through their salary hence resulting in criminal activities in work places that might result in them losing their jobs. The mindset of an individual is the only assured solution to unemployment because both progress and change go hand in hand. Educational institutions should also prepare the elites with an aim of providing a system and mindset reform. Policy makers should also formulate conditions to give an advantage to their citizens so as to protect them from foreign exploitation that may lead to resource acquirement by other foreign neighbors.
With time technology change has seen unemployment increase in the past few years as people taste change over time. Private investment in the past years have not been growing enough in order to provide more employment to people. The expense in labor has been a major factor as high cost of living has resulted in high labor cost hence private and public sectors minimize on the number of employees they acquire in order to save in expense. Information technology is seen facilitating certain business activities although in the recent past, its acquirement has seen an increase in unemployment in the society.
Questionnaires serve as an information gathering method as they do offer a platform to individuals to give their own thoughts concerning unemployment. Observations in the current economy trends is also a very effective factor as the media and other factors can be keenly taken into note to gather information. Sampling can also be done to get information from a vast population of people whereby different opinions from people can be weighed in order to find the problem and arrive to a reasonable solution. The data collected will be used to formulate possible solutions to curb the issue of unemployment.
Putting all the concerned factors in place. All the factors that may lead to unemployment are to be discovered, and solutions are to be formulated while putting into account past events, that may serve as a lesson and also a solution resource. The private sectors is to be encouraged and a review of the educational system which tends to concentrate more on the theory part of academics is to be done in order to prepare the graduates on the current requirements of today’s market. Policies review and development are to be done to favor entrepreneurship and to encourage business venturing in order to curb unemployment in today’s environment. The mindset is also a factor that needs to be considered in order to bring forth the initiative of job creation in the economy other than relying on employment which is hardly a guarantee nowadays once a person finishes his training.
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Field preparation Data collection Data sumarizationInformation Presentation References
Bovee, John. Christian. 2014. Quote World. [Online] Available at: <http:// www.quoteworld.org/quotes/1765. [Accessed 21 March 2014].