unemployment in developed countries


What is unemployment in developing countries?

Let us make in-depth study of the meaning, types and nature of unemployment in developing countries. Technically speaking, unemployment is defined as a state of affairs when in a country there are a large number of able-bodied persons of working age who are willing to work but cannot find work at the current wage levels.

Is unemployment a global problem?

In the world of today which is characterised by globalization, the unemployment problem has become a worldwide problem. It is endemic in both developed and developing countries. But for developing countries, this problem brings more challenges(like increased poverty) and complications (like political and social instability).

How to solve the problem of unemployment and under-employment?

Thus, to generate enough employment and solve the problem of unemployment and under-employment, the wage-goods industries, especially agriculture, must be accorded a high priority in the strategy of economic development. Most of the unemployment in underdeveloped countries is of a different nature from that in advanced and developed countries.

What causes cyclical unemployment in developing countries?

Keynes analyzed this cyclical type of unemployment and asserted that it was caused by deficiency of aggregate demand. The nature of unemployment in developing countries is quite different; rather than being cyclical it is of chronic and long-term nature.

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