I am quite sure that you have come across the point of a smaller number of job opportunities while watching news or reading newspaper. Have you wondered what can be the consequences of this problem? Do you want to read about the solutions to this problem? If you have answered yes to these questions, this article is a pot of gold for you.
Unemployment is when someone could work and wants to work but is unable to find a suitable job. This is a very common problem in India that needs to be resolved as soon as possible. There are certain implications of this problem. Let us have a look at them.
1. Fall in GDP- I am sure you have heard this term “GDP” a lot of times. This is because GDP is often recognized as a vital indicator of a nation’s growth, and particularly the state of its economy. It is known to us that every working individual contributes at least something if not much, to the nation’s GDP. Whether a person is a farmer, a government servant, a doctor, or one working in a private firm, each contributes to the GDP of the country in some or the other way.
A falling number of job opportunities for individuals may have a severe impact on GDP. People who are willing to work but can not find the work, what could be worse than this situation. If there are people who can contribute to the GDP but unfortunately are able to do so, the mechanism must be altered to take into consideration this point and provide the required opportunities.
2. Poverty- Unemployment, and poverty go hand in hand. It is quite obvious that a guy is unable to find a suitable place of work, managing livelihood becomes a tough task. As a result, a person finds himself/herself trapped and his/her condition worsens as time passes by.
This in turn affects the mental, social as well as the physical health of the individual. Many individuals commit suicide when they find it extremely difficult to survive in such a situation. Even if they do not do so, they are unable to live peacefully and do not find themselves enjoying the realms of life.
3. Wrong Ways and Things- Imagine a situation where a person is not able to work and earn, even after possessing the required working skills. This situation, if persists for a long time, may give rise to unfair and wrong things taking place.
An individual may resort to drugs, alcohol, and illegal ways to earn their living. Especially, young people start doing this kind of activity in their difficult times. They may start doing the robbery, or murder, or any other bad activity to somehow manage their living. Hence, it is very important for the administration to resolve this vital problem as it causes a deep-rooted problem in long run.
4. Low Investment- Investment plays a significant role in boosting an economy. There is a chain, which begins when an individual invests money, and it ends with positive results for both the one who has invested and the one who has sold his shares. Similarly, people also invest in banks with a positive interest rate.
A person who is barely managing to buy the necessities cannot think of investing money with any organization. Hence, this will result in low investment. It should be clear that investment is directly related to the growth of the firms. So, fewer job opportunities result in low investment.
I am sure you have got an idea of the problems faced due to low opportunities. This is indeed a vital problem in many countries of the world. To read more about the causes of unemployment. Are there any solutions to this problem? Definitely, Yes. So, let us throw some light on the solutions to this problem.
1. Control of Rising Population- There is no doubt that the rising population is the root cause of all the problems let it be social, environmental, or any other problem. Behind unemployment, rising population and competition is a major reason. The government of our country must form certain laws to stop this exponential rise of population. This is the need of the hour and must be controlled as soon as possible.
2. Change in Education System- Indian education system, for many years has focussed on memorizing things rather than learning new skills that can be used in the future for productive reasons. Thanks to NEP 2020, which can be seen as a major step in this regard. Let us hope that efforts must be made for the proper implementation of this policy. This may reduce the problem of unemployment.
3. Investment from Foreign Companies- The government must bring investments and opportunities of other countries to our nation. This will definitely help in creating new opportunities for individuals. Make in India initiative is designed specifically for this purpose. This will be beneficial for foreign companies as well because of the easy availability of cheap labour.
4. Balance Between Labour- and Capital-Intensive Techniques- Digitalisation is rapidly taking place in almost all the spheres of the world. As a result, people are losing their jobs, since certain firms have shifted to machines, which can do the work easily and in less time. But at the same time, it must be kept in mind that there should be a balance between labour- and capital-intensive techniques. It should not happen that a firm lays off its workers because of this reason.
5. More Opportunities in Rural Areas- All the firms and companies have a limited capacity of workers. People from rural areas migrate to urban areas in search of new job opportunities. Since, after some time there are no vacant seats for workers, it leads to unemployment. So, the generation of more opportunities in rural areas should be done so that rural people need not go to cities to find employment opportunities.
These are some of the effective solutions which can be implemented to curb this deep-rooted problem. Though the governments are taking certain measures to curb this problem by forming policies. But the point lies in their proper implementation. Rather than forming new policies, the focus should be put on properly implementing the existing ones. People work hard day and night to fulfill their dreams. But if they do not get the required opportunities, they face emotional challenges and they start considering themselves a burden. This should ideally not happen because every individual is born with some skills. It is quite possible that one may not be able to score well in exams but possesses epic skills related to craft, art, and music, etc. Hence, to conclude this article I just want to say that one should identify his/her core areas and start focussing on those areas.