Unemployment is an economic problem as well as a social issue. It affects the living of all the people in a society whether they are young or old, educated or uneducated, skilled or unskilled. Why unemployment is increasing day by day in Pakistan? Write down at least one reason.
Answer:
Unemployment is increasing day by day in Pakistan due to many reasons. Reasons are job search and wage rigidity in the country.
- Job search:
1. Workers have different abilities and preferences.
2. Jobs have different skill requirements.
3. Geographic mobility of workers.
4. Flow of information is imperfect.
· Wage rigidity:
1. Minimum wage laws.
2. Labor unions.
3. Efficiency wages.
· Sectoral shifts.
· Unemployment insurance (This is for European countries)
No comments:
Post a Comment