Editor's note: The following is taken from the Facebook status of Alina Amir, a Teach for Malaysia teacher with her permission. In these times of plunging education.
Quality of education. Economy. Economic growth. Advantages of Economic Growth. Disadvantages of Economic Growth. Relationship between unemployment and economic growth. -How does unemployment affect your economy? -The consequences of unemployment to the Malaysian economy.
During periods if recession, an economy usually experiences a relatively high unemployment rate. In a 2011 news story, Business Week reported, "More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies and half of developing countries are experiencing a slowdown in employment growth". Moreover they need to go for training to increase their knowledge on the working field. This essay is an example of a student's work Unemployment will occur when trade unions and labor organization bargain for higher wages, which leads to fall in the demand for labor.
The main considerations that lead us to think that this is an interesting question have to do with the re-allocative aspect of growth. Faster economic growth must come from a faster increase in knowledge. Inefficiently of using labor resources will cause to high unemployment rate. The result shows that the economics in Malaysia is better with high employment. In economics, unemployment statistics measure the condition and extent of joblessness within an economy. Full Cause of unemployment The level of unemployment differs with economic conditions and other market forces. Unemployment occurs when an individual is out of his current job and looking for another job.
Some of the graduate job-seekers are with high expectation for their first jobs. Even they are aware they lack of working experience, they still try to apply for higher salaries compared with those with one or two year's experiences.