Explain Three effects of unemployment
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Yogita Ingle 5 years, 4 months ago
(i) Unemployment is said to exist when people who are willing to work at the going wages, cannot find jobs. So, unemployment leads to wastage of manpower resource.
(ii) People who are an asset for the economy, turn into a liability.
(iii) There is a feeling of hopelessness and despair among the youth.
(iv) People do not have enough money to support their family. Inability of educated people who are willing to work to find gainful employment implies a great social waste.
(v) Unemployment tends to increase economic overload. The dependence of the unemployed on the working population increases. The quality of life of an individual as well as of society is adversely affected.
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