Topic > The problem of unemployment, its cascading effect and solutions to address it from different angles

Unemployment is a critical social and economic problem in both developed and developing countries. A recent survey shows that young Arabs consider unemployment to be a serious problem and a major social concern. This report discusses and defines the unemployment problem, its cascading effect and suggests solutions to address the problem from different angles. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay The International Labor Organization (ILO) definition of unemployment is “those persons aged 16 years and over are unemployed if they are: Without work, want a job, have actively looked for work in the last four weeks, and they are available to start work in the next two weeks. Or without work, they have found a job and are waiting to start it in the next two weeks”. Unemployment can be voluntary or involuntary because of his desire not to work at the prevailing or prescribed wage (i.e. he chooses not to take a job. On the other hand, involuntary unemployment occurs when a person is separated from paid work and without wages, although he is in). able to earn wages and is also eager to earn them. The unemployment rate is defined as the percentage of unemployed workers in the total workforce, the total workforce is made up of all employed and unemployed people within an economy. (Team, 2018) Unemployment rate= (unemployed workers)/(total labor force) *100% The unemployment rate is a very important indicator as it provides information about the economy's spare capacity and unused resources. Unemployment usually increases with the slowdown of economic activity, below is the illustration of untapped youth unemployment rate in the Arab world in 2014 and 2016. Untapped youth unemployment rate in the Arab world in 2014 and 2016 According to l 'International Labor Organization (ILO), statistics of both employed and unemployed in 2012 shows that approximately 6% of the world's population is unemployed and young people are the unemployed. Unemployment is the biggest concern among Arab youth who believed that their biggest concern for the future was the fear of unemployment. This was the result of the ninth ASDA'A Burson-Marsteller Arab Youth Survey, conducted among 3,500 Arab men and women aged 18 to 24 between 7 February and 7 March 2017. This survey is based on face-to-face meetings face to face - interviews with faces carried out in Arab countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, Algeria, Egypt, Libya, Morocco, Tunisia, Iraq, Jordan, Lebanon, Palestinian Territories and Yemen). The sample expressed concern about not being able to keep their current job or find new positions, as they complained about the job market in their Arab countries. No less than 35% of young Arabs interviewed are worried about unemployment. Unemployment Rate in Different Countries (Statistics/Facts & Figures) According to data shown by the Central Bank of the United Arab Emirates in the United Arab Emirates, the unemployment rate in the United Arab Emirates was 1.72% in 2017, while the 1.64% in 2016. The total unemployment rate in the UAE fell to around 2.44% in 2014 from 2.82% in 2013. According to the same estimates, in 2017 the unemployment rate was 1 ,72%. Even with onepopulation of 9,400,000 inhabitants, the change in employment was 3.20%. Based on the data collected in 2017, the unemployment rate in the United Arab Emirates is relatively less as the highest rate is Spain with 16.74%, Turkey 9.6%, the lowest rate Switzerland 2.40 %, Japan 2.20%. Unemployment rate by countryCountry - Last month collected - Previous - Highest - LowestSpain - 16.74 - March 18 - 16.55 - 26.94 - 4.41 % Quarterly Turkey - 9.6 - April 18 - 10.1 - 14.8 - 7.3 % Monthly France - 9.2 - 18 March - 9 - 10.7 - 7.2 % Quarterly Canada - 6 - 18 June - 5.8 - 13.1 - 2.9 % Monthly United Kingdom United Kingdom - 4.2 - 18 May - 4.2 - 12 3. - 4 % monthly United States - 4 - 18 June - 3.8 - 10.8 - 2.5 % Monthly China - 3.89 - 18 March - 3.9 - 4.3 - 3.89 % Quarterly India - 3.52 - 17 December - 3.51 - 8.3 - 3.41 % Annual Germany - 3.4 - 18 May - 3.4 - 11 .5 - 0.4 % Monthly Switzerland - 2.4 - 18 June - 2.4 - 5.7 - 1.5 % Monthly Japan - 2.2 - 18 May - 2.5 - 5.5 - 1 % Monthly The main reasons for unemployment are: Collapse or closure of companies Downsizing and layoffs. Lack of educated, qualified and experienced staff/qualified people. Lack of job opportunities due to joint stock companies and industries. Low or insufficient wages. Automation and new technologies. Fewer workers are needed to run more technologically advanced companies. Technical difficulty in adapting to the changing needs of the industry. Seasonal variation as some jobs are seasonal (agriculture, tourism and construction). Off-season workers are fired. Students return to full-time education. The effects of unemployment not only affect workers but also their families who lose wages, and society as a whole loses its contribution to the economy in terms of goods or services that could have been produced, creating a cascade effect that impacts on the economy. Unemployment also affects those who are still employed, as this increases the amount of work they have to cover. Furthermore, unemployment has a negative mental effect on those who continue to work. As they become more afraid of losing their job or looking for something better because they "are lucky" to have a job. They may also feel guilty for having a job when their colleagues are out of work. Unemployment solutions, challenges and social integration Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay Unemployment is one of the oldest human problems, where several factors are interrelated and can result in situations of increasing poverty. Humans have always tried to solve it, as it affects society by implementing effective and efficient strategies that enable the reduction of unemployment. “Around the world, there is growing recognition of the need to strengthen policies and investments that involve young people… Young people can determine whether this era moves towards greater danger or towards more positive change. We support the young people of our world to become adults who produce other generations of productive and powerful leaders,” said Ban Ki-Moon, United Nations Secretary-General. Here are some suggestions for solving the unemployment problem that ensure effective interaction between all members of society: Change in industrial technique, for example in production approach, should adapt to people's needs and means. It is vital that labour-intensive generation is encouraged instead of capital-extensive generation. Policy regarding seasonal unemployment: for example: agriculture should have multiple crops..