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Why is unemployment considered a major problem in the economy or macroeconomics?

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posted Jul 11 by Anushka

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1 Answer

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Unemployment is the main cause of poverty. Even in poor countries, when everyone is employed it usually means that there is an equality of opportunity to work by the free availability of the land and capital. However, when either of these two factors of production are limited or stopped, unemployment will result along with poverty. Since macroeconomics deals with how governments should help the social system and many of its communities to progress, the problem of poverty is a major one along with the associated unemployment.

answer Jul 12 by Debolina Charaborthy
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