Unemployment is something any of us may have to face at almost any point of time in our careers. The economic imbalance in society is one of the important causes of unemployment. The consequences of unemployment are many. Apart from adding to the economic imbalance of society, unemployment results in dissatisfied and frustrated individuals who are forced by circumstances.
Unemployment Causes and Consequences:
Unemployment results from insufficient effective demand for goods and services in an economy. The majority of our Algerian youth are in unemployment, most of them get their Diploma. Unemployed individuals have to go through a tight economic crunch. They are unable to meet their financial obligations. This may lead to a decline in their standard of living. Lack of funds is sure to have a deep impact on their expenses. The consequences of employment can be as grave as homelessness due to failure of the unemployed individuals. Underemployment is one of the serious consequences of unemployment. On losing jobs, people are forced to take up jobs that do not befit their skills, experience and educational qualification. The other major consequence of unemployment is anxiety in the minds of the unemployed people. Unemployed individuals become pessimistic about life and may have to face psychological problems resulting from mental stress.
Unemployment benefits serve as a strong support during the period of one’s unemployment. An individual can claim the unemployment benefits if he/she has been forced to quit the job. Unemployment benefits are a temporary relief from unemployment. The real solution to unemployment needs to be found out by carefully analyzing its causes. The causes of unemployment need to be analyzed carefully to find a solution to this calamity that affects the youth in Algeria called unemployment, which eclipses life.