ipl-logo

Impact Of Unemployment In Ghana

1679 Words7 Pages

INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The World Book of Encyclopedia (1974:13) defines unemployment simply as the state of a person who wants to work but does not have a job. According to these definition, the term does not refer to people who are not seeking work because of age, illness or a mental or physical handicap, nor does it refer to people who are attending school or keeping house. Such people are classified as out of the labour force rather than unemployed.
International Labour Organization (ILO, cited by Oben-Tarkornoo, 2009) defines unemployment as the numbers of the economically active population who are without work but available and seeking for work, including people who have lost their jobs and those who have voluntarily …show more content…

Some effect of unemployment includes: individuals are not capable to earn money to meet financial responsibilities, lack of financial resources, and social responsibilities may push unemployed employees to take jobs that do not fit their skills or allow them to use their talents. Unemployment can cause underemployment, and panic of job loss can spur psychological anxiety. As well as anxiety, it can cause depression and also lack of confidence etc. Anytime unemployment rates increase economic growth and economic development …show more content…

The challenge has therefore become an issue of great concern not only to governments, but also to employers and trade unions in developing countries. The focus of this study is to identify what unemployment is and the effect of it on economic growth and development of Ghana. The problem of unemployment in Ghana has been making headlines in the Ghanaian media, both the print at non-print, for quite some time now. In Ghana presently, about 230,000 people who seek to enter the labour market every year, the formal economy is able to offer jobs to about 2% or about 4,600 of them (ISSER, 2004), the remaining 98% of the job seekers are left to find employment in the informal economy where the levels of compliance with labour standards are non-existent or very low or remain unemployed. This thinking has become even more profound because little is being done to remedy the situation. The failure to provide remedy to unemployment in the country has stemmed primarily from the fact that those who have committed themselves to salvaging the situation, have totally made the wrong diagonals of the situation and have consequently provided the wrong prescription. The result of this failure is that unemployment in Ghana has gradually become

Show More
Related

  • The Great Depression Essay

    1141 Words  | 5 Pages

    With unemployment that high, there was very little chance people would find another job. Many people kept their jobs by settling for lower wages, feeling that any money was better than none. Local governments had trouble paying their bills because so many people couldn’t pay their property taxes, this often meant schools were under-funded, under-staffed, or shut down completely (Social and Cultural Effects of the Depression 1). Unemployment got so bad that “Mexican Americans in California were offered free one-way trips back to Mexico to decrease job competition in the state” (Sinking Deeper and Deeper

    Read More

  • Mental Health Care System Unemployed

    750 Words  | 3 Pages

    However, the length of unemployment has remained constant over the same time period, with little fluctuation and even a slight increase in recent years. This raises concerns in the psychological effects on the unemployed, as the longer that Americans are

    Read More

  • The Great Depression Essay

    658 Words  | 3 Pages

    Land and crop values plummeted. It all resulted in a drop in prices, both agricultural and industrial, which decimated profits and hurt already over-extended enterprises. During periods of economic recession, consumers stop spending, which forces companies to cut production. With less output, companies start laying people off, raising the unemployment rate. A healthy unemployment rate in the US hovers between 3% to 5%.

    Read More

  • Unemployment In America Essay

    412 Words  | 2 Pages

    Unemployment has always been a problem in the United States and a problem generally everywhere. Citizens either have a difficult time finding a job, keeping one, or working at jobs that don’t pay enough to support themselves and their families. Taxes could also be a major factor in having careers. Taxes takes out a percentage of money every time a working citizen gets paid either with a check or through direct deposit. There was a high unemployment crash in 2008.

    Read More

  • The Great Depression Essay

    423 Words  | 2 Pages

    One of the most significant impacts of the Great Depression was unemployment. Millions of people lost their jobs, as businesses shut down or reduced their workforce. The unemployment rate in the United States reached a peak of 25 percent in 1933, and it remained above 14 percent until the late 1930s. The number

    Read More

  • The Effects Of Colonialism In Africa

    1019 Words  | 5 Pages

    Colonialism integrated Africa into international labor division. Colonialism is when a country or state overpower a particular state by a use of propaganda for them to agree with their terms without the targeted state or country saying anything to the above-mentioned terms (Ocheni & Basil, 2012). Colonialism in Africa refers to the incident which took place during the 1800-1960s where European states came into Africa and exploit resources. This essay will validate the effects of colonialism in Africa and how it affected the economy of Africa states which led them to be in the current economic state, furthermore, it will outline how colonizers used their colonial methods to get Africans to change their indigenous ways of doing things.

    Read More

  • Effects Of Overpopulation In China

    1228 Words  | 5 Pages

    Unemployment will cause lower salaries because more workers but less jobs, so the people that cannot find a job in China they will find a job in other countries. Some of the degree graduated student cannot find a job in the China because there was not job for them. According to Patience (2013), the companies were less hiring 15% graduated students from last year. That was a bad news for the graduated students because they were just a few of companies’ job to choose. Unemployment make the students stress.

    Read More

  • Classical And Classical Economics: The 1929 Economic Crisis

    1116 Words  | 5 Pages

    1929 economic crisis, which is generally called as Great Depression, had upset the balance of world economic order. Until the depression, classical liberal economic theories were dominating World order. Classical economics is a supply oriented theory, claiming that whatever the level of supply, it is going to create its own demand in the market. If the free market determines the levels of prices, economy will always be in the situation of full employment. Accordingly, states should never interfere in the market.

    Read More

  • Argumentative Essay On Unemployment

    798 Words  | 4 Pages

    Unemployment happens when individuals are without work and effectively looking for work.[1] The unemployment rate is a measure of the pervasiveness of unemployment and it is figured as a rate by separating the quantity of unemployed people by all people presently in the work power. Amid times of recession, an economy more often than not encounters a generally high unemployment rate.[2] According to International Labor Organization report, more than 200 million individuals universally or 6% of the world 's workforce were without a vocation in 2012 There remains significant hypothetical civil argument with respect to the reasons, outcomes and answers for unemployment. Traditional financial matters, New established financial aspects, and the Austrian School of financial matters contend that market instruments are solid method for determining unemployment.

    Read More

  • The Pros And Cons Of Unemployment

    1034 Words  | 5 Pages

    This data collection should allow this study to acquire an acceptable level of trustworthiness, even when taking into considerations some limitations that may occur.   Section 1: Introduction Introduction Unemployment as an economic problem exists in each countries and it is often a measure of the health of the economy. It is known as waste of scarce economic resources and as a result it decreases the future growth potential of the country’s economy (Riley, 2005). It is essential to understand the factors which causes the unemployment and its relation and impacts to other economic issues. For instance, of the causes are considered the extreme unemployment benefits, excessive minimum wage and hiring cost, too high real wages level, the disparity between the unemployed labour and job offers on the market in terms of skills and many others reasons (Bell, 2000).

    Read More

  • The Problems Of Unemployment As A Social Problem In Society

    2016 Words  | 9 Pages

    Typically, one does not think about unemployment being a social problem, unless you are someone that is unemployed or has experienced unemployment. Unfortunately, unemployment is becoming a serious social problem today in society. Many people who happen to be unemployed are more than capable of working they just do not have the proper experience or flexibility that a job requires. Many are also unemployed because there are not enough jobs for everyone. The unemployment rate is rising every day and the something needs to be done to stop this.

    Read More

  • The Full Monty Movie Analysis

    1611 Words  | 7 Pages

    According to the Eurostat, in April 2017 almost 20 million people were unemployed. (2017) Both men and women are facing consequences of losing their jobs however, they have different responses to unemployment. As Leana and

    Read More

  • Causes Of Unemployment In Kenya

    1358 Words  | 6 Pages

    Unemployment in Kenya is attributed to a number of factors that include: rapid growth of the population and the labour force, skill mismatch, information problems in the labour market, structural adjustment programs, slow or declining economic growth, and the labour market setup, among others. High population growth rate in Kenya has resulted in a relatively young population and a large population of youth in the population of the working age (Njonjo, 2010). This increase in the youthful population and increasing labour force has led to labour supply outstripping demand. Consequently, unemployment, especially among the youth, has surged. In particular, high population growth has resulted in higher levels of unemployment.

    Read More

  • The Negative Impact Of Unemployment In Youth

    846 Words  | 4 Pages

    Introduction: Unemployment generally defined as the number of persons who are willing to work for the current wage rates in society but not employed currently. Unemployment reduces the long run growth potential of the economy. When the situation arises where there are more other resources for the production and no man power leads to wastage of economic resources and lost output of goods and services and this has a great impact on government expenditure directly (Clark, 2003). High unemployment causes less consumption of goods and services and less tax payments results in higher government borrowing requirements. The impact of the unemployment is seen with the individuals and household curtailing the consumption drastically to meet financial

    Read More

  • Causes Of Unemployment In Malaysia

    874 Words  | 4 Pages

    Issues and Concerns of Unemployment in Malaysia For decades, unemployment is seen as a negative issue that affects a country all over the world including Malaysia. One person may become unemployed as long as he or she is involved in the labour market. If the unemployment issue is not solved, it will give rise to a series of social and economic problems in a country. The first impact of unemployment will cause an arise of criminal activities.

    Read More

More about Impact Of Unemployment In Ghana

Open Document