Unemployment issue in our community
The problem of unemployment is pervasive and affects not only people but communities as a whole. In recent years, the global economic downturn and technological advancements have further aggravated the problem. The rising rate of unemployment on our campus is a serious issue that needs to be addressed immediately. I feel it is our shared responsibility as a community to tackle this problem head-on.
The causes of unemployment can be caused by a variety of things, each with its particular effects. These include structural problems in the labor market as well as technological advancements, shifting labor demands, and economic downturns. The modern workforce certainly changed as a result of the quick development of technology, with some jobs becoming out of date while others are being invented. Artificial intelligence and the automation of some tasks have forced out workers, requiring them to learn new skills to stay employed. Changes in labor demands are frequently caused by changing consumer preferences and market trends. In the past successful businesses may experience a decline, while emerging industries demand a new workforce with specialized skill sets. Unemployment is frequently caused by workers’ inability to adjust to new demands. As I interviewed one of my co-workers who got recently fired, how unemployment is going for him right now is bad. He was hired at the same time as me in retail and got fired. He said he used up all his savings these couple of months and he was looking for a similar job/ better job but couldn’t find any. It’s been very stressful for him.
A steadily rising unemployment rate affects peace in society and creates social instability. Increasing the income gap raises levels of inequality and social isolation. Furthermore, unemployment can put a major burden on public welfare applications, costing public resources. According to the article, “The health consequences of unemployment have been shown to increase with duration – for mental health and life satisfaction as well as for physical health’’. (Wilson, 2021, Page 1) . From this one can infer that unemployment has a connection between one’s physical and mental health. Unemployment has a strong negative impact on fitness. Unemployment-related stress and tension can lead to issues with mental health, including depression and an increased risk for alcohol or drug addiction. Reduced access to medical treatment and social support networks further increases the health risks associated with unemployment.
We must use different strategies to successfully address unemployment. Here are some steps that we can take. By giving people the skills they need to successfully navigate a changing job market requires significant investment in education and skill development. To guarantee that education stays consistent with expanding areas and to increase employability, collaboration between educational institutions, and companies is essential. For the development of jobs, it is essential to support an environment that encourages innovation and entrepreneurship. Governments should make it easier for ambitious entrepreneurs to get funds and resources, and they should put up laws that help new businesses and encourage innovation. In order to address unemployment, active labor market policies like internships, job training programs, and public works programs are needed. According to this article, “Tax credits will almost certainly be part of any program to improve unemployment because businesses need a concrete reason to hire during a difficult economic period”.(24/7 Wall St, 2010, Line 22) This explains why the federal government may offer tax credits to businesses that bring on new hires or transition part-timers to full-time employment. This would encourage businesses that want to grow but are conflicted about the economy to do so.
In addition to addressing the real causes of unemployment, converts need to be provided with support and opportunities. By sharing strategies such as changes in education and entrepreneurship offerings, we can work to support an economy that creates equal opportunities, reduces poverty, and ensures the well-being of all citizens. To benefit the future, we must work together to create a more equitable and sustainable labor market.
Reference:
Wilson, H., & Finch, D. (2021, April 16). Unemployment and Mental Health. The Health Foundation. https://www.health.org.uk/publications/long-reads/unemployment-and-mental-health
24/7 Wall St. (2010, September 5). 10 Ways to Cut Unemployment in Half. The Atlantic; The Atlantic. https://www.theatlantic.com/business/archive/2010/09/10-ways-to-cut-unemployment-in-half/62506/
