We have written an essay on unemployment for students and children in 1000 words. It includes meaning, problems in India, reasons, effect, 10 lines, and tips for tackling unemployment.
Lets start this essay on employment.
Essay on Unemployment (1000 words)
Unemployment has been described as the number of people (as a proportion of the labour force, depending on the nation’s people) who are ready to work at the present wage levels but are currently unemployed.
Unemployment decreases the economy’s long-term economic potential. Whenever there are more alternative resources available for production but fewer human resources, there is indeed a waste of economic assets and a loss of productivity in products and services, which directly influences government spending.
Higher governmental borrowing needs derive from lower consumption of products and services and lower tax payments. Individuals and households are substantially reducing their expenditure to satisfy financial obligations as a result of unemployment.
Therefore, factors such as this harmed the entire economy. This also diminishes the production of products and services that the unemployed workforce might have generated.
Even when an economy’s jobless rate is extraordinarily high, it produces far less than its capacity. As a result, everyone in society loses because they buy and value less, and less is made for distribution.
Several economists have conducted scientific studies to address this issue and discover answers. We will cover the causes of unemployment and the problems that the government, as well as individuals, have in addressing this issue.
This paper provides a summary of the societal impacts of unemployment as well as the issues that the situation will face in the future.
Unemployment Problem in India
According to the Council for Measuring Indian Economics, India has had 53 million jobless individuals since about December 2021, with a large number of them being women.
According to the CMIE, 37 million jobless people are proactively seeking work, whereas 17 million are eager to work but are not proactively pursuing it.
The Reasons Behind Unemployment
The major reasons for being unemployed are as follows:
- Caste System: In India, the caste system is widely used. In certain locations, certain castes are barred from working. In many circumstances, the task is handed to someone who belongs to a specific community rather than to deserving individuals. As just an outcome, unemployment has risen.
- Economic Development Is Slow: The Indian economy remains underdeveloped. Thus, economic development is slow. This sluggish growth will not provide adequate job possibilities for the rising population.
- Increase through Population: Throughout India, the constant growth in the population has been a major issue. It is certainly one of the primary reasons for joblessness. The unemployment rate in the tenth programme remains at 11.1 percent.
- Agriculture is indeed a seasonal job: Farming in India remains undeveloped. It has a temporary workforce. On the other hand, farming is a seasonal industry that provides employment for several months. As just an outcome, unemployment has risen.
- Cottage and small industry decline: Industrialization harms both cottage and small industry production. Many craftspeople lost their jobs when cottage industry production began to decline..
- Fundamental Reason for Underemployment: Another fundamental reason for underemployment seems to be a lack of available production resources. Leading to a scarcity of energy, coal, and raw supplies, meaning that people are unable to work for the entire year.
- Defective Management: Another of the leading causes of unemployment is poor planning. Both supplies, as well as demand for employment, are vastly different. Any plan has not devised a long-term strategy for reducing unemployment.
Effects of Unemployment
Unemployment has the following economic consequences in any country:
- The issue of unemployment leads to the issue of poverty.
- Since unemployment reduces production as well as people’s purchases of products and services, the government faces an increased borrowing load.
- Antisocial elements could easily recruit unemployed people. This causes people to lack faith in the country’s political values.
- People who have been jobless for a longer duration are more likely to engage in unlawful and unethical actions to make money, which increases crime in this country.
Tips for Tackling Unemployment
Changes in educational institutions: The educational system as a whole should be overhauled. Students who are interested in continuing their education should be accepted into colleges as well as universities.
Vocational training should be prioritised. Engineers with the necessary qualifications should establish their own small businesses.
Expansion of Job Exchanges: More job transactions should be established. Jobs must provide people with information about job prospects.
More help for self-employed individuals: In India, the majority of people are self-employed. Individuals work in agriculture, trading, handicrafts, small-scale enterprises, and other fields. These people need money, as well as raw materials and help learning how to do things.
Employment that is both full-time and productive: The primary goal of the nation’s policy is to enhance employment possibilities and labour efficiency. The government should implement a policy that ensures that everyone has a job.
Increased Production: Increasing production in the agricultural and commercial sectors is critical to increasing employment. Smaller and cottage enterprises should be supported to grow.
Large capital creation rate: The nation’s capital formation percentage should be boosted. Capital formation must be supported, especially in activities that create more job prospects. The capital production ratio must be kept as low as possible.
Population regulation: In an attempt to alleviate the issue of unemployment, the overall population increase should be controlled. The family management programme ought to be extensively and efficiently implemented.
10 Lines on Essay on Unemployment
Below are 10 lines on Essay on Unemployment:
- Unemployment is defined as a scenario where there aren’t enough jobs in a given area, town, or country.
- Unemployment is becoming a global problem that must be addressed.
- Due to a variety of factors, skilled and talented individuals are unable to obtain employment.
- Underemployment is deteriorating owing to India’s growing population.
- Seasonal unemployment, disguised unemployment, public unemployment, and other kinds of unemployment exist.
- Poverty, a shortage of competent guidance, and, on occasion, political party influence are indeed the major causes of unemployment.
- Unemployment can lead to a variety of crimes, including robbery, terrorism, and so on.
- Indeed, technology has led to a lot of joblessness because machines have taken over jobs that used to be filled by people.
- Unemployment remains the most significant impediment to societal growth.
- To create jobs, the government has launched several initiatives, including the Jawahar Rojgar Yojna.
Thus, unemployed people frequently become hooked on narcotics and liquor or commit suicide, resulting in a waste of economic resources for the country.
Unemployment has an impact on the nation’s economy because the labour that might have been productively employed becomes reliant on the existing working populations, increasing the government’s socio-economic expenditures—for example, a 1% rise in unemployment decreases GDP by 2%.
I hope you liked this informative essay on unemployment.