Torres, Jhen Mar R. 10-Aquinas Lesson 5.1 Activity 2 Theme: Global Issues Topic: Unemployment and Underemployment Main ideas or terms: Unemployment rate List of ideas/Thoughts regarding the choosen Topic Who: People across the world What: Jobs, Applicants, Salary, Economy Where: Worldwide When: Decades How: Why: Cause and Effect Activity 2 General Topic(Question) : What are the effects of having a high unemployment rate to people and to the Economy? Working Title: The Effects of Having a High Unemployment Rate to People and the Economy across the Globe? Research Questions: 1. Why is Unemployment a Global Issue? 2. What are the reasons of Unemployment around the world? Also in developing countries and how these issues are encountered? 3. What are some problems with the unemployment rate? 4.How the people and economy be affected by the current Unemployment rate? Unemployment World Problems and Global Issues INTRODUCTION: Unemployment traps people in a cycle of poverty. As people lose skills and become unemployed, we will be less able to generate economic growth in the future. It perpetuates inequality by concentrating wealth in the hands of a small percentage of the population. It also has an impact on social stability: the Arab Spring serves as a stark reminder of the societal tension that high youth unemployment may generate.For the past nine years, worldwide unemployment has remained relatively stable, but decreasing global economic development means that, as the global labor force grows, not enough new jobs are being created to absorb new entrants into the labor market. Approximately 188 million individuals are unemployed around the world."Unwarranted extrapolations from spectacular episodes of corporate downsizing, neglecting compensatory job creation elsewhere in the economy," according to the paper, are to blame for much popular theorizing about the "end-ofwork" and "jobless growth." These fears are legitimate, according to the research, "given the nearly global deterioration of work circumstances," the scale of layoffs, and "...the concentration of job losses in particular economic sectors and communities.""Despite rising unemployment, there has been no widespread fall in the employment intensity of economic expansion... Similarly, while self-employment, part-time work, and other non-traditional types of employment have increased, this has not meant that regular jobs have vanished. Data on job tenure reveal no evidence of a generalized drop in either the length of time people have worked for their current employer or the length of time they are expected to work for them in the future. At the same time, there is no evidence that the rate of job turnover in labor markets has increased. Another issue with the official unemployment rate is that it does not take into account the quality of the jobs that people hold. People who work part-time or on a temporary basis are considered employed. They're also listed as employed if they work low-wage jobs to put food on the table. RESEARCH QUESTIONS: 1. Why is unemployment a global issue? 2. What are some problems with the unemployment rate? 3. What is the real unemployment rate right now? What are the reasons of unemployment in developing countries and how these issues are encountered? REFERENCES: https://www.statista.com/statistics/279777/global-unemployment-rate/ https://www.google.com/search?q=unemployment+world+problems+and+global +issues&oq=&aqs=chrome.0.69i59i450l8.12601j0j7&sourceid=chrome&ie=UTF-8 Activity 1 Research Questions 1. Why is Unemployment a Global Issue? Result and Discussion Unemployment traps people in a cycle of poverty. As people lose skills and become unemployed, we will be less able to generate economic growth in the future. It perpetuates inequality by concentrating wealth in the hands of a small percentage of the population. For the past nine years, worldwide unemployment has remained relatively stable, but decreasing global economic development means that, as the global labor force grows, not enough new jobs are being created to absorb new entrants into the labor market. 2. What are the reasons of The causes of unemployment in highUnemployment around the income countries of the world can be world? Also in developing categorized in two ways: either cyclical countries and how these issues unemployment caused by the economy are encountered? being in a recession, or the natural rate of unemployment caused by factors in labor markets, such as government regulations regarding hiring and starting businesses. 3. What are some problems with Unemployment has cost to a society the unemployment rate? that are more than just financial. Unemployed individuals not only lose income but also face challenges to their physical and mental health. Societal costs of high unemployment include higher crime and a reduced rate 4. How the people and economy be affected by the current Unemployment rate? The unemployment rate is the proportion of unemployed persons in the labor force. Unemployment adversely affects the disposable income of families, erodes purchasing power, diminishes employee morale, and reduces an economy’s output. TITLE: The Effects of having High Unemployment Rate to People and to the Economy ABSTRACT Unemployment is such a huge problem across the globe. Unemployment is causing a lot of adverse effect to People and Economy. Unemployment rate around the globe increased with approximately 188 million individuals are unemployed. Due to Unemployment issues the economic growth had gotten slower and People’s Mental health. A research has been conducted to study what are the effects of unemployment to people and what are the possible events that may occur if this issue will still increase. INTRODUCTION Unemployment traps people in a cycle of poverty. As people lose skills and become unemployed, we will be less able to generate economic growth in the future. It perpetuates inequality by concentrating wealth in the hands of a small percentage of the population. For the past nine years, worldwide unemployment has remained relatively stable, but decreasing global economic development means that, as the global labor force grows, not enough new jobs are being created to absorb new entrants into the labor market. Approximately 188 million individuals are unemployed around the world. The national unemployment rate is defined as the percentage of unemployed workers in the total labor force. It is widely recognized as a key indicator of the performance of a country’s labor market. As a closely watched economic indicator, the unemployment rate attracts a lot of media attention, especially during recessions and challenging economic times. This is because the unemployment rate doesn’t just impact those individuals who are jobless–the level and persistence of the factors of unemployment have wide-ranging impacts across the broader economy. “Unwarranted extrapolations from spectacular episodes of corporate downsizing, neglecting compensatory job creation elsewhere in the economy,” according to the paper, are to blame for much popular theorizing about the “end-of-work” and “jobless growth.” These fears are legitimate, according to the research, “given the nearly global deterioration of work circumstances,” the scale of layoffs, and “…the concentration of job losses in particular economic sectors and communities. “”Despite rising unemployment, there has been no widespread fall in the employment intensity of economic expansion… Similarly, while self-employment, part-time work, and other non- traditional types of employment have increased, this has not meant that regular jobs have vanished. Concerning the satisfaction level with main vocational activity, unemployment tends to have negative psychological consequences, including the loss of identity and selfesteem, increased stress from family and social pressures, along with greater future uncertainty with respect to labour market status.The unemployment rate is the proportion of unemployed persons in the labor force. Unemployment adversely affects the disposable income of families, erodes purchasing power, diminishes employee morale, and reduces an economy’s output. METHOD There is a related study where 300 men are assessed every 6 months. After entering the study, men who became unemployed are being compared to people with same age, and race who are continued to work. Psychological and health data after unemployment were compared between the two groups by multivariate analysis of variance and covariance. After the unemployment symptoms of, depression and anxiety were significantly greater in the unemployed Large standard deviations on self-esteem scores in the unemployed group suggested that some men coped better than others with jobloss stress. Based on the further analysis shows that those people with higher esteem tends to have more support coming from friends and family than those who had low esteem. Furthermore, shows that men who are unemployed seems to visit their physicians more often, and took medications. And also according to the U.S. Bureau of Labor Statistics (BLS), when workers are unemployed, their families lose wages, and the nation as a whole loses their contribution to the economy in terms of the goods or services that could have been produced. Unemployed workers also lose their purchasing power, which can lead to unemployment for other workers, creating a cascading effect that ripples through the economy. In this way, unemployment even impacts those who are still employed. RESULTS: Based on the conducted study and research it shows that unemployment can cause massive changes and effects to peoples live’s and to the economy. It effect to people by making their self-esteem decrease, having no ability to sustain their personal and family needs. It also affects a person’s health by change of moods, lack of motivation to do anything and also having a high chances of having anxiety and depression, and these reasons may cause a person physical health to decline. Also due to lack of of financial stability the family or children a individual must sustain may lack of educational support and the child will find searching for jobs in the future difficult. If this will continue to cycle the possibility of Poverty will be higher,and also making the economic growth slower People who are unemployed are losing their ability to purchase, this might lead to other people’s unemployment due to lacking of sales. And also due to this case the economic growth may decline and making the demand and supply principle imbalanced. At this case people will find it difficult to start or to make their business grow. And while people are unemployed for a long time, thus making their ability of having a good skills will decrease There are a few solutions that might decrease the Unemployment Rate and the chances of Poverty: 1. Learn to make a Family Plan, since having uncontrollable child birth will increase the demand while making the supply decrease. 2. Make an Accurate Qualification Standards depending on the Specific Job recquired, Due to having a High Standards on choosing an employee that bases on its physical appearance while not having choosing people with capable skills based on the given job. REFERENCES https://www.yourarticlelibrary.com/unemployment/the-nature-and-causes-ofunemployment-in-developing-countries/37830 https://www.statista.com/statistics/279777/global-unemployment-rate/ https://www.google.com/search?q=unemployment+world+problems+and+global+issues &oq=&aqs=chrome.0.69i59i450l8.12601j0j7&sourceid=chrome&ie=UTF-8 https://m.economictimes.com/news/international/world-news/global-unemploymentprojected-to-rise-by-around-2-5-million-in-2020-un-report/articleshow/73480520.cms https://www.investopedia.com/articles/economics/10/unemployment-rate-get-real.asp https://m.economictimes.com/news/international/world-news/indias-close-se-asianpartner-singapore-expands-partnership-with-bhutan/articleshow/83952342.cms https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1646287/
