Why is unemployment rate so high?

[Romanmam]

High unemployment indicates the economy is operating below full capacity and is inefficient; this will lead to lower output and incomes. The unemployed are also unable to purchase as many goods, so will contribute to lower spending and lower output. A rise in unemployment can cause a negative multiplier effect.

 

[alibilal5555]

Low consumer demand creates cyclicalunemployment. Companies lose toomuch profit when demand falls. If they don't expect sales to pick up anytime soon, they must lay off workers. Thehigher unemployment causes consumer demand to drop even more, which is why it's cyclical.

 

[Hamza1999]

Inadequate education and lack of productivity is costing jobs. Unemployment increases progressively with decreased educational levels; and the education system is not producing the skills for the labour market. Labour supply is affected by the increase in the number of job seekers over the years

 

[Bagg victor]

The unemployment rate is high in my country, but still, people look for ways to generate income in different ways, be it online, doing different tasks or entrepreneurs and offline. The reason in some cases is the low wages paid by companies and in others the lack of knowledge of certain areas to perform

 

[ALI25]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

We know that there is a lot of unemployment these days, which is why so many people are living in poverty.There are many reasons for unemployment including lack of knowledge, interdependence of people and so on.Unemployment is also very high today due to lack of awareness among the people

 

[Ibrahim1]

As for me unemployment is still going to move higher because my country can help, because my country government can't help also they only care about there pockets and family alone because it's there own they care, they care about there self's alone

 

[Adeyoola7]

Low consumer demand creates cyclical unemployment. Companies lose too much profit when demand falls. If they don't expect sales to pick up anytime soon, they must lay off workers. The higher unemployment causes consumer demand to drop even more, which is why it's cyclical. Increasing mechanization of agriculture in various states has lowered the employment elasticity of growth of agricultural output. ... In our view due to the seriousness of unemployment problem some output growth should be sacrificed for the sake of more employment.

 

[Sana Diyar]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

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unemployment rate so high because Inadequate education and lack of productivity is costing jobs. Unemployment increases progressively with decreased educational levels; and the education system is not producing the skills for the labour market. Labour supply is affected by the increase in the number of job seekers over the years.

 

[Folaham]

It's is really alarming, the rate at which individuals especially the unemployed ones take things with levity. If the government can't provide job, it is your responsibility to get one and have something doing.

Even the few government intervention in N-power, N-Agric and all that, many just sign up to collect the monthly 30k without any interest in the skill acquisition intended by the government. All the youths want is just free cash as if that is their right and not work

 

[Alexandoy]

The unemployment in our country is understandable because of the covid virus. There are still businesses that are restricted here like the travel agency, gym, etc. Fortunately the public understands what's happening so there is on protest march. The government is doing its best to provide even a little employment.

 

[Nicklas22]

Unemployment rate is high because the government and also the masses play a role in the situation, the government should have created a companies and vocational centers where people can learn some hand work and trading skills, while the individual should be ready to work and learn some craft after school but most of them want a white collar job

 

[Bookwormlux1]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

Unemployment rate is high and increasing because the government have failed to provide and create jobs for their citizens. Though citizens are still working hard to get other opportunities and utilize since government failed them.

 

[Good-Person]

The unemployment rate is very high in many countries due to the fact that competition in the globe is very high. There are limited job opportunities and not everyone is qualified enough to get a job. Secondly, I would say that the Covid-19 pandemic has also done a very high damage to financial institutions and several corporations across the world and this has also caused a lot of damage to the market. These are some of the main reasons why the unemployment rate is so high around the world.

 

[chommyluv]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

Unemployment is the other of the day now in my country; those that are of retirement age refuse to retire, white collar jobs now is for who knows who! that's the irony of life in my country. Some will graduate roaming round the street seeking for job which is not in existence

 

[Mastercoded]

UNEMPLOYMENT IS SO HIGH DUE TO THE PANDEMIC AND WAS STILL HIGH AFTER THE PANDEMIC, ESPECIALLY IN DEVELOPING COUNTRIES. DURING THE PANDEMIC A LOT OF PEOPLE REALLY TAKE ADVANTAGE OF THE ONLINE PLATFORM TO MAKE EARN MEET, INFORMATION COMMUNICATION TECHNOLOGY WHICH IS A POWERFUL TOOL IN THIS CENTURY HAS MADE MACHINE TAKE A LOT OF PEOPLE JOB

 

[abubakar3141]

Unemployment rose to 6.9 percent in October 2020 from a 1.0 percent increase. This is the sixth consecutive month of declining rates, but it was still nearly double the February rate of 3.5%.

 

[Jumoke12]

Why is unemployment rate so high?

In recent years, economics of work have changed. The New Economy is an economy based on abundance, not scarcity. Millions of jobs are up for grab on daily basis. Everything is now online. Everything has changed; many own an online business with no physical office, some work for multinational companies at the comfort of their homes as a content creator, copywriter, deal expert and many more. Pick your battle wisely.

It is important to Invest in your knowledge, and most importantly, You shouldn’t be at home unemployed.

What’s your view on unemployment rate and the way forward?

this is the way it has always been, unemployment rate has always been on the high side and this is due to the fact that our country only produces graduates, in tousandsz every year yet no employments for them, no company to absorb them. so why won't there be great number of unemployed individuals and graduates!

 

[Kamon c4]

Unemployment rate is definately caused by the rapid increase of educated graduates. The facilities and resources to empower them is very low compared to their population. However the demand for black collar job or skilled labor is very high. Its demand is higher than its supply. In recent years black collar jobs workers earns more and become successful easily

 

[Shahrukh irshad]

It is indeed because there are no strategies by governments to improve the employment. They don't know that a lot of people are being graduated every year and have no opportunity. Degrees are failing them to obtain job opportunities. Labour costs are so less that people prefer to flew from theirs country to other so can earn well and that is like a load to that system.

 

[adeniji]

Over population is one of the effect of unemployment in a sense that goverment job opportulities is not enough for people who are looking for job. When 20 people were needed for a perticular job, 20,000 peopel will apply for the job. So, it is advisable for individual to be self employeed.