Unemployment is on the rise. In fact, even highly qualified graduates are now finding it difficult to get a job. There are several reasons behind this unfortunate development.
The ongoing economic crisis is one of the main reasons of unemployment. Recession has forced many organizations to stop hiring new people. As a result, fresh graduates receive no job offer. Even employed people are getting laid off due to the financial turmoil in world’s major economies. It should also be noted that major economies like the US, the UK and Germany have long stopped growing. When economic growth remains stagnant, the need for new talent also diminishes. This is the main reason behind the increase in unemployment in the developed world.
At the same time, there is an increase in the number of people graduating from universities. This is particularly true in the case of developing nations. Thanks to the economic growth in these nations, more and more students can now afford university education. For example, in India, the number of people who graduated in 2016 was significantly higher than the number of people who graduated from universities ten or fifteen years ago. Unfortunately, in spite of its rapid economic growth, the country still does not have enough jobs for all of its people. Another reason that leads to unemployment in developed nations is the outsourcing of jobs to developing nations where cheap labour is available.
Unemployment is likely to be a cause for concern in the coming years too. In my opinion, young graduates should stop waiting for job offers from Fortune 500 companies. Instead, they should find jobs themselves. The internet has actually made this easier. It allows people to sell their products or services to interested parties all over the world. Also, graduates seeking employment must stop the obsession with white collar jobs. If they don’t mind sweating it out, jobs are still available.
To conclude, unemployment can be attributed to two factors – the increase in the number of graduates and the decrease in economic growth. The only way to solve this problem is to encourage people to find employment themselves. This might require them to take up manual jobs but having a job is way better than having none at all.
Unemployment
is on the rise. In fact, even
highly
qualified
graduates
are
now
finding it difficult to
get
a
job
. There are several
reasons
behind this unfortunate development.
The ongoing
economic
crisis is one of the main
reasons
of
unemployment
. Recession has forced
many
organizations to
stop
hiring new
people
.
As a result
, fresh
graduates
receive no
job
offer. Even employed
people
are getting laid off due to the financial turmoil in world’s major economies. It should
also
be noted
that major economies like the US, the UK and Germany have long
stopped
growing. When
economic
growth
remains stagnant, the need for new talent
also
diminishes. This is the main
reason
behind the increase in
unemployment
in the developed world.
At the same time, there is an increase in the
number
of
people
graduating from universities. This is
particularly
true in the case of developing
nations
. Thanks to the
economic
growth
in these
nations
, more and more students can
now
afford university education.
For example
, in India, the
number
of
people
who graduated in 2016 was
significantly
higher than the
number
of
people
who graduated from universities ten or fifteen years ago. Unfortunately,
in spite of
its rapid
economic
growth
, the country
still
does not have
enough
jobs
for all of its
people
. Another
reason
that leads to
unemployment
in developed
nations
is the outsourcing of
jobs
to developing
nations
where
cheap
labour
is available.
Unemployment is likely to be a cause for concern in the coming years too. In my opinion, young
graduates
should
stop
waiting for
job
offers from Fortune 500
companies
.
Instead
, they should find
jobs
themselves. The internet has actually made this easier. It
allows
people
to sell their products or services to interested parties all over the world.
Also
,
graduates
seeking employment
must
stop
the obsession with white collar
jobs
. If they don’t mind sweating it out,
jobs
are
still
available.
To conclude
,
unemployment
can
be attributed
to two factors
–
the increase in the
number
of
graduates
and the decrease in
economic
growth
. The
only
way to solve this problem is to encourage
people
to find employment themselves. This might require them to take up manual
jobs
but
having a
job
is way better than having none at all.