A boom in the economic growth of a country happens to be a period in which lower unemployment, a rise in asset prices and a higher GDP persists. But with the rise in employment, people also have to go through a phase of unemployment and there could be many reasons for the same. Some of the reasons may be…
As we all know that a boom in an economy brings with itself a ray of hope for many job seekers to get employment in high-tech industries but there are people who are unfit to the vacancies and so such structural unemployment gains a hold in the economy. It may also happen that a particular industry gives a rise in GDP and if that industry turns out to be some capital intensive industry, not much unemployment is expected to be vanished.
During a boom in the economy, high minimum wages and costly regulations seems to be an indication of a rise in living standard of people but that too, turns out to be a way which could make firms not to hire workers any more and moreover, to lay off some workers to avoid huge costs.
Frictional unemployment could be a reason too, which exists when people leave their jobs and takes time to find a well suited job for them, or when some industry is closing down and there could be other reasons too.
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Good efforts.
Nice article..!
Good effort!
Well written article. 🙂
Nice effort.. well written..
well written
Unemployment is a rising consern in India 😀
As the population is increasing day by day 😀
the opportunity is still same so increase in unemplyment 😀
Good work 😀
Very well wriiten 😀
nice composition.