UNEMPLOYMENT'S IMPACT ON POVERTY


Simply put, being unemployed means not having a job. a circumstance where a person is able to work to provide for their fundamental necessities yet is unable to find employment. Poverty breeds unemployment, and unemployment breeds poverty. In general, poverty happens when a person is unable to meet his fundamental needs, including those for food, clothing, and shelter. That is what establishes a connection between unemployment and poverty. There are 97 million individuals in India who live in extreme poverty, out of a total population of 1.39 billion, which has an impact on the country's economy. India's unemployment is caused by a variety of factors, including:-

Caste system                                                                                                                                          Due to the prevalent caste system in India, jobs are often allocated to people who belong to a certain community rather than candidates who deserve them, which raises the unemployment rate.

Slow economic growth                                                                                                                           Since India is a developing country and its economic growth is slow, it fails to provide enough job opportunities for the increasing population. 

Increasing population                                                                                                                             India has a high population due to the fall in mortality rates and steady rise in birth rates, which raises unemployment. Our econometric models predict that the number of unemployed people in India would hover around 43.32 million in 2021 and 44.20 million in 2022.

Immobility of labour                                                                                                                             In India, there is little labour mobility due to strong familial ties. Because of cultural and religious barriers, many do not relocate for jobs. Lack of labour mobility leads to unemployment.

Agriculture is the seasonal occupation                                                                                                 People who depend on agricultural work for a few months can find job in India because it is an agriculture-based nation. Therefore, unemployment is also caused by this..

Joint Family system                                                                                                                              They run a joint business in a joint family. The family includes a large number of members who are dependent on the family's income yet do not work. These individuals provide nothing to the production process, increasing the apparent unemployment.

Poverty and unemployment both affect economic expansion, which lowers the nation's GDP and leads to issues like labour exploitation, industrial disputes, political instability, social issues, an increase in poverty, etc. Due to a lack of work, it may even result in an increase in the number of criminals. 

                                                                                                  


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