Manu Murthy Asked: August 5, 20212021-08-05T19:28:48+05:30 2021-08-05T19:28:48+05:30In: Social sciencesWhat are the main reasons for unemployment?What are the main reasons for unemployment?unemployment 1 AnswerVotedOldestRecent Salomi 2021-08-05T19:30:22+05:30Added an answer on August 5, 2021 at 7:30 pm The main reasons for unemployment are:People’s skills are not what employers are looking for.The market is saturated and employers cannot find enough people with the skills they want.Businesses cannot find enough workers with the skills they need, so they reduce their payrolls or increase profits by increasing the workload of existing workers.A downturn in the economy leads to a decline in the number of jobs available.In economic terms, the main reasons for unemployment include:Technological changeEconomic depressionTrade barriersPrice and wage controlsDeregulationWhy is Unemployment a Problem?Unemployment is a problem because it leaves people without money, motivation, and purpose. People get depressed because they don’t have anything to do. They also get used to working a lot more than they needed to in order to make up for the lost income.The biggest problem with unemployment is that it doesn’t teach people new skillsets; instead, it creates a situation where most people are working harder than they should be and not reaping as many benefits as they could be.Unemployment happens when companies can’t find workers for open positions or when workers are laid off from their jobs.The unemployment rate is a crucial indicator of overall economic health. It affects people in a variety of ways. Some people are unemployed for an extended period, while others only need to find temporary work during times when their industry is not as active.2Reply Share ShareShare on FacebookShare on TwitterShare on LinkedInShare on WhatsAppLeave an answerLeave an answerCancel reply Featured image Select file Browse Add a Video to describe the problem better. Video type YoutubeVimeoDailymotionFacebook Choose from here the video type. Video ID Put Video ID here: https://www.youtube.com/watch?v=sdUUx5FdySs Ex: "sdUUx5FdySs". Answer Anonymously Save my name, email, and website in this browser for the next time I comment. Related Questions What are the current issues in science? What does it mean if you keep seeing the same name everywhere? What a pop star gets in his post box? What is coochie snot? What is Felching? What is a muscle daddy in the gay community? Can we go to heaven with tattoos after death? What is Rat race and how to escape from the rat race?