Unemployment has always been a bad stigma to this world. More than 30% of the people in this world are without any proper jobs. And this rate is expected to rise even further in the coming year of 2019.
But why is this happening? Why are companies not able to give jobs to the candidates, or why are people losing jobs at such a high rate?
Here I have talked about few factors due to which we can expect a shortfall in the number of job offerings, and hence, a great rise in the unemployment rate.
Rise in Population
The population is growing at a very high rate. Barring few countries, rest others are experiencing high birth rates and low death rates each year. Plus, with medicine getting advancements, the death rate is also dropping severely.
In short, there are more than sufficient people in this world, each looking for some or the other suitable job for himself. BUT, the jobs are not rising at the same rate.
With the advancement of technology, a lot of the work is easily done with the tools and software available easily. And because of that, the man force required has decreased. With the population growing at such a high rate, unemployment will definitely increase because the companies do not need that much employees now.
Because companies are now offering less jobs, people are looking for alternate sources of revenue, one of which is the legitimate paid online surveys sites. People are turning to digital platform to meet their job needs and earn some good money.
A lot of people have predicted that the recession is on the way. Very soon, the whole planet would be hit by a great recession of all time. And that is another reason why companies have dropped the number of vacancies. Those who were earlier offering 10 open positions, are now offering 5.
Such a drop is also the reason why unemployment is expected to rise. Clubbed with the rise in population, there is no escape from this upcoming situation. We can only expect all of this to over soon and the work scenario to come back to its original form. Then only this unemployment rate would decrease.