A Cause and Effect of Unemployment

Published: 2021-07-28 09:20:06
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Category: Society

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In this modern globalization, a developed countryr’s living standard can be measured by the unemployment rate to determine whether the country going well or poorly. According to the Department of Statistic Malaysia, it mentioned Malaysia has been recorded the unemployment rates among the fresh graduates are in the range of 10% to 12% which is considered as an unmanageable. Secondly, it also mentioned that a fresh graduate who is unemployed if he or she on temporary layoff or waiting for the start date of a new job. In sum, the unemployment rate will under no circumstances be zero because the economy is repeatedly changing. However, the major causes of unemployment among the fresh graduates are because of the insufficient jobs and the personalities in order to bring the effect of the economic growth to the country. First of all, the insufficient jobs are considered as one of the causes occurs the unemployment. The reason is that the number of jobs available in some labour market is not enough to provide everyone who demands a job. For instance, when the salaries would be increased above the equilibrium by the government, the demand of labour which is the firm that wants a labour to work would be decreased while the supply of labour which is the fresh graduates will be increased.
Since the higher salaries exist, the demand for labour which is the firm would reduce the variable cost in order to hire fewer fresh graduates but the high supply from the fresh graduates will create the unemployment happened. In consequences, the fresh graduates will suffer the insufficient jobs available thus affect the unemployment rate of the country. Other than that, personalities also consider as one of the causes unemployment occur. This is related to the knowledge and skills of the fresh graduates used to search and switch the jobs that best suit them. For example, the job searching is a process that provides the fresh graduates with a way to look for their jobs based on their knowledge and skills and it also takes time to qualify the fresh graduates so that can be matched with an appropriate job. Moreover, the economy repeatedly changing is also one of the examples because it takes time for fresh graduates to learn the new knowledge and skills in the new sector of the economy. Therefore, personalities of the fresh graduates also playing a very important role in the causes of unemployment. Lastly, the effect of unemployment is affecting the economic growth of the country. This is because economic growth measures based on the price level towards goods and services have been purchased in the economy.
For example, when people do not have a job most likely will maintain a low productivity, income and purchasing power eventually they cannot effort the consumption of goods and services. In short, the standard of living in the country will be affected because of the economic growth does not move constantly. As a result, unemployment occurs because of the causes of insufficient jobs and personalities and therefore affects the economic growth of a country. The government must perform these responsibilities by taking the action of organising the campaign of education so that can implement the fresh graduates the ways of generating skills in the labour force or implement subsidy to the firm to develop more job opportunities to the fresh graduates. At that time, the more people educated or more job opportunities in the economy have, the unemployment rate among the fresh graduates will be decreased immediately. In my opinion, if all these approaches can be implemented by the government, the country will surely accomplish the goals of full employment of fresh graduates and the good economic growth of a country.

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