Unemployment occurs when a person who is actively searching for a job is unable to find work. Unemployment is often used as a measure of the health of the economy.
Unemployment is a very serious problem faced by most youths causing them at times to feel sick depressed and most times misbehave to the point of committing a crime.
But why is there unemployment?
In the developed world, it may seem as if we simply all have enough now – enough fridges, clothes and cars – and, therefore, that consumption has reached a kind of limit – and employment along with it. As a result, a large share of the population seems fated to have nothing to do other than survive on charity and government hand-outs, for there is simply nothing for them to do: our needs have been met. We may be prepared to grant that unemployment in the undeveloped world is a little different; there’s so much to do there after all, and one can point to factors such as poor skills, corruption, lack of access to finance and bad transportation as the central reasons why employment prospects in these less fortunate lands have been held back. But in the rich world, it can seem as if economies have stagnated principally because we’ve run out of things we want to buy from and sell to one another.