Cause Of Unemployment
There are several unemployed people today in the US. There will always be some unemployed people in a country, and there will never be a total 100 percent employment rate at any particular period in time. If you look at individuals, then each one would have a different reason for their unemployment. However, these are only a small percentage of people. |
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Today, the single biggest cause of unemployment is bad economy, recession and inflation. The fast changes in technology has a brought a trend where not much manpower is required to complete several tasks. Companies rather have super computers doing the job of ten employees at a time than hire ten employees actually.
Irregularities in the business cycle pull out a lot of funds from the money markets causing a severe lack of money and funds. For a country’s economy to be healthy, there should be a healthy money flow cycle. When people spend money, the cash gets pumped back into the economy. When people have no money to spend, then the cycle also goes haywire, and this leads to a vicious cycle of unemployment, recession, and poor economy.
The lack of jobs in the IT sector can be directly blamed on outsourcing. Several Americans have suffered due to outsourcing of jobs in the software industry; and service industry and the automobile industry have also followed the IT sector, and are now outsourcing some of their core functions to various other countries like India and China. All these put together are the causes of unemployment in the United States today.
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Cause Of Unemployment
