Economic Inflation
Inflation is one of the oldest causes of unemployment. This leads to failure in exports as companies are not able to compete with others due to rise in price. Incomes suffer, people's savings fall and gradually companies start firing people, being unable to pay them on due time. Thus, the rate of unemployment increases. A state's economy faces a steep rise in prices as compared to other economies of the world.
Inflation is one of the oldest causes of unemployment. This leads to failure in exports as companies are not able to compete with others due to rise in price. Incomes suffer, people's savings fall and gradually companies start firing people, being unable to pay them on due time. Thus, the rate of unemployment increases. A state's economy faces a steep rise in prices as compared to other economies of the world.
Economic Recession
A severe financial crisis hit almost all countries throughout the world. People remained unemployed till the economies regained stability. Rise in unemployment and sine die of established companies became a regular affair. It became a global crisis wherein the rate of unemployment knew no bounds. Recession became one of the prime causes of unemployment in the United States in the year 2007.
A severe financial crisis hit almost all countries throughout the world. People remained unemployed till the economies regained stability. Rise in unemployment and sine die of established companies became a regular affair. It became a global crisis wherein the rate of unemployment knew no bounds. Recession became one of the prime causes of unemployment in the United States in the year 2007.
Changing Technology
Job cuts due to changing technology elevates rate of seasonal unemployment. A kind of imbalance is caused when they stop involving their own employees in major areas of production and development. This gives rise to frustration in work and many tend to resign. Thus old employees get substituted by the new and the former remains unemployed either temporary or permanently. Since technology keeps advancing with passing days, most companies look for a change in workforce. Although, they do not fire people randomly, they hire people having specialization in the advanced techniques.
Job cuts due to changing technology elevates rate of seasonal unemployment. A kind of imbalance is caused when they stop involving their own employees in major areas of production and development. This gives rise to frustration in work and many tend to resign. Thus old employees get substituted by the new and the former remains unemployed either temporary or permanently. Since technology keeps advancing with passing days, most companies look for a change in workforce. Although, they do not fire people randomly, they hire people having specialization in the advanced techniques.
Racial Discrimination
Racial discrimination still prevails in many organizations. People who are unemployed for genuine reasons can register for the unemployment insurances planned by the government and enjoy the benefits till they find a job. It becomes very difficult to find out a decent job under such circumstances. People who are not citizens of that particular country remain unemployed due to discrimination on grounds of race, religion, caste and ethnicity. These were the most probable reasons behind unemployment. It's one of the most serious cause of unemployment. Thus, earning money for survival becomes difficult and ultimately they are forced to leave the country. It's important to note that an individual's approach towards finding a job or to remain unemployed matters a lot.
Racial discrimination still prevails in many organizations. People who are unemployed for genuine reasons can register for the unemployment insurances planned by the government and enjoy the benefits till they find a job. It becomes very difficult to find out a decent job under such circumstances. People who are not citizens of that particular country remain unemployed due to discrimination on grounds of race, religion, caste and ethnicity. These were the most probable reasons behind unemployment. It's one of the most serious cause of unemployment. Thus, earning money for survival becomes difficult and ultimately they are forced to leave the country. It's important to note that an individual's approach towards finding a job or to remain unemployed matters a lot.
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