Unemployment? The word makes me depressed and miserable every time it hits my eardrums. Big concern!!! Unemployment occurs when a skilled and eager worker is unable to find work.
Different types of unemployment exist; some are not as destructive as others, while some are extremely dangerous to society as a whole. Frictional unemployment affects people who are looking for their first job. Such unemployment is not considered harmful, and it can be remedied by increasing public awareness of new job possibilities. I was a victim of this, I wish I was aware enough. Then there’s seasonal unemployment, which is limited to certain seasonal businesses such as tourism and agriculture. People must be encouraged to work alternative jobs during the off-season to help reduce this. The worst kind of unemployment is structural unemployment. It enters the picture when an economy’s structure changes.
It is long-term unemployment initiated by a variety of factors. The factors include the replacement of humans by machines, changes in customer behavior, and so on. It concerns me a lot, who know what kind of scenes we are gonna witness!! I think concept like Retraining, on-the-job training, and making workers occupationally adaptable can help to eliminate structural unemployment.
