Description

Unemployment is one of the developmental problems that are faced by every developing economy in the 21st century. Unemployment is a key measure of economic health. It is a major factor in determining how healthy an economy is; if the economy maximized efficiency, everyone would be employed at some wage. An individual unemployed is both unproductive and a drain on society s resources. Unemployment is a powerful statistic that shapes government policy and personal decisions. The government keeps a close eye on the unemployment rate. Not only does unemployment indicate that the economy isn t operating at peak efficiency, but politicians have noticed that high unemployment correlates with losing elections.