Unemployment, also called joblessness, refers to those who are capable of working and actively seeking employment but cannot find any. For a person to be called unemployed, they must be an active member of the labor force and search for suitable work.
High unemployment rates are a signal of economic distress; however, meager rates of unemployment may also mean an overheating economy. Many governments offer unemployment insurance to specific unemployed individuals that meet the standard requirements for unemployment insurance.
Whether voluntary or involuntary, unemployment can be broken down into four types:
You might be wondering, what are the leading causes of unemployment? Research says that these factors greatly influence the unemployment rate: Depression, Job Outsourcing, Voluntarily leaving one job to find another, or personal reasons (family, mental health, physical health, etc.).
What can we do to lessen the unemployment rate? Since this requires government actions, there are only a few things we can do to reduce the effects of unemployment.
In conclusion, We still hold the rope in our lives. The world will only offer us opportunities. Whether to grab it or find another one still depends on us. Think about what you want to do with your life. What is it that you want? What are your priorities for now? What are the things you think you can do confidently?
The solution to combat unemployment is within our hands too. Use your opportunities wisely.
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