Answer:

Global issue: unemployment

What Is Unemployment?

The term unemployment refers to a situation when a person who is actively searching for employment is unable to find work. Unemployment is considered to be a key measure of the health of the economy. The most frequent measure of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of people in the labor force. Many governments offer unemployment insurance to certain unemployed individuals who meet eligibility requirements.

Causes:

The causes of unemployment in high-income countries of the world can be categorized in two ways: either cyclical unemployment caused by the economy being in a recession, or the natural rate of unemployment caused by factors in labor markets, such as government regulations regarding hiring and starting businesses.

What are the 7 causes of unemployment?

These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.

Effects:

Unemployed workers are clearly in worse health than their employed counterparts. They are less self-confident, appear overwhelmed by their problems, and report markedly higher diagnosed mental disorders. However, these are simple correlations and are, therefore, uninformative about the underlying direction of causality. Mental disorders such as depression or chronic anxiety could be the result of unemployment, but it could also be that poor mental health leads to job loss or the inability to find employment.