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Unemployment: Factors That Leads To Poverty

727 Words3 Pages

Being employed nowadays seems to be very crucial to ones life because if a person is employed, it means that he/she is receiving a certain pay for his/her labor. This will help them to provide and meet their family’s daily needs. However, there are some people who are unable to find a regular job because of certain reasons. This is where unemployment becomes a factor that contributes to poverty. Since unemployment creates a lack of financial stability, it will eventually lead to poverty. Due to this, those people who are unemployed will have a lower standard of living than those of the people who are employed. This is because they will suffer from lack of regular income to support their basic needs such as food, clothing and health care. This only shows that employment plays a very big role in addressing poverty since if many people will be employed, they will have enough money to be able to support their needs in life.
Last 2012-2013, there is an increase in the unemployment rate of the Philippines despite the country’s economic growth. Cerda (2013) states that the country’s robust economic growth failed to offset figures in the jobless rate as unemployment rose to 7.5 percent in April from last year’s 6.9 percent. The National Statistics Office (NSO) reported that Philippine employment dipped to 37.82 million in April 2013 from the 37.84 million in April 2012. Also, the National Economic and Development Authority (NEDA) said that the country 's unemployment rate increased

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