Farming was heavily encouraged and exploited. Soon, the entire economy began gravitating towards the oil sector, while other professions were seen as peripheral. Furthermore, in the era of globalization and in a time of financial market disruptions unemployment. For instance, it is assumed that with democracy, people would. In fact, setting up a business is a very potent solution to reducing unemployment, as every new business, if properly managed, would create more jobs in the long run. As gathered from several sources, over 8 million working class Nigerian citizens have lost their jobs since 2015 to date. There are major and minor causes of unemployment.
Economics, Economy, Exploratory research 2162 Words 7 Pages problem: they just cannot get a job. They instead prefer to sit at home and wait for someone to employ them. Consequently, the average price level will rise substantially. Although unemployment varies from cyclical, structural, residual, frictional and technological. Stress is a response to evens that make you feel threatened or upset your balance in some ways.
This is Nigeria for us. The deregulation policy I Nigeria, however exerted upward pressure on interest rate on saving which rose form 12. Then, explain what took place and why. However, the divorce rates tend to continually increase. This is caused by private companies not expanding their activities fast or not expanding them fast enough. Structural Unemployment This arises as a result of slight changes in the industrial structure of a country. Un-employability Without mincing words, many Nigerian graduates are simply not employable.
This post clarifies the top five causes of unemployment in Nigeria. The recession, the failing economy, and the government losing money are things that cause unemployment. And the salaries for four or five persons are paid to one or two persons. Metallurgical engineers are still being churned out of universities but nowhere to work because our steel industry is not functional. The rate of unemployment within the age group of 20 to 24 years is 40 % and between 15 to 19 years it is 31 %. However, their dreams are shattered by factors such as lack of electricity, lack of capital and so forth. It is hereby recommended that the various governments of Nigeria as well as rich individuals should establish mechanized farms in various parts of the country to absolve many job-seekers.
A skillful person can adjust to many situations and environments and at least, feed himself and his household appropriately. The papers ordered and produced should be used as a guide or framework for your own paper. The situation in the 90s was so terrible that analysis have described the period as a lost decade to Nigeria in terms of economic growth and development. Frictional and structural unemployment occur even in a healthy economy. We are launching an initiative very soon to teach the youths blogging from scratch and mentor them till they become successful.
It occurs because workers need to find out about possible new job opportunities, go on interviews and possibly move before starting their new jobs. Here we publish several helpful articles in various categories, such as how-to articles, where to find things, resources, business, interviews and reviews. Poverty This is not just a cause but also one of the major problems of unemployment in Nigeria, Some people are not financially buoyant enough to bring their ideas to life and in the process, becoming self employed. In the case of merchant banks, the prime lending rate was between 60 and 80 percent during the period. When Supply is Higher than Demand This will affect many industries and cause retrenchment or layoff of workers. Due to various causes in the economy, there will always be a certain. Unemployment is a global phenomenon whereby willing, and able workforce of a nation do not have jobs in the service of the nation.
It is the aim of Scharticles. Corruption is the bane of development in Nigeria. Brain, Exercise, Human brain 771 Words 3 Pages saying if you have been accepted or not. When corruption is taken as normal routine, functions which are to be performed by three or even four persons are taken up by only one person and that one person collects all the salaries meant for the three or four persons. Among the unemployed population are people of all genders, educational qualifications, ethnic background and age especially young people of average 21 years old.
Economic Solutions to Unemployment The issue of unemployment has done irreparable damage to the psyche and confidence of an average Nigerian youth; hence, to the tackle unemployment head-on is no easy task. Economics, Employment, Labour economics 3889 Words 14 Pages Causes of Unemployment In Malaysia, the unemployment rate is considered low compared to the early years such as 1986 where the unemployment rate reached as high as 7. For instance the client pays a hundred thousand naira 100,000 per worker through these contractors then the contractors pay these workers twenty thousand naira 20,000 that is if you are lucky enough to get up to that amount and with a threat of take it or leave the job after all there are a thousand and one persons begging to get the same job since job security is not there. How do you expect them to contribute to the community or implement their ideas? Ghost workers There is the case of ghost workers in which individuals mostly children and relatives of civil servants are placed on government payrolls from childhood and the parents or relatives in the service keep taking the salaries. In addition, to define a person as unemployed, the person must be an active member of the labor force in search of work. There are many causes and many effects to divorce.
Unemployment 2461 Words 7 Pages Exercise and Its Effects on Learning Jennifer Bowden English 101 Erin Brescia May 26, 2013 1. The two conjoined economic malaises have done significant damage to the confidence of most Nigerian youths. Thus, the country became heavily reliant on crude oil and its proceeds, much to the detriment of the agricultural sector. Other projects such as building solar powered water pump for use in rural areas, solar powered streetlights, hybrid powered generators using solar and battery power, can also generate employment in the Nigerian economy. As good as the foregoing sounds, Nigeria continues to experience its share of social, economic and political upheavals which have often stunted its growth and development into the regional economic power that it strives to attain. The responsibility for creating adequate demand for labour level of inflation might be manifested but certainly not sufficient to discourage employment growth is stifled by aggressive wage demand a temporary income policy should be stabilized to enhance the effectiveness money supply as an instrument for reducing unemployment.
Electricity is indispensable, and without it, things will function below required capacity. As a matter of fact, they are very expensive to procure and maintain; and, for companies to get them, they must find a way to offset some of the cost. Unemployment is a real humanitarian problem. Vocational courses linked with the self-employment can be initiated, if Govt. And every administration has had its fair of blame, albeit at varying scales — some more than others. This is what we call disguise unemployment. Low Economic Growth Rate Generally, the situation in the country for some decades now has been rather hostile to economic growth and development.