How does unemployment have a detrimental impact on the overall growth

1.	How does unemployment have a detrimental impact on the overall growth of an economy?
Answer» Wastage of manpower resource: In case of unemployment, manpower who is an asset for an economy turns into liability because utilisation of manpower becomes nil. Economic overload: Unemployment tends to increase economic overload because of dependence of unemployed on the working population increases. So the quality of life is adversely affected. Unemployment leads to social waste: Inability of educated people who are willing to work to find gainful employment implies a great social waste. Increase in employment in an indicator of a depressed economy.

How does unemployment have a detrimental impact on the overall growth of an economy?

Answer»

Wastage of manpower resource: In case of unemployment, manpower who is an asset for an economy turns into liability because utilisation of manpower becomes nil.

Economic overload: Unemployment tends to increase economic overload because of dependence of unemployed on the working population increases. So the quality of life is adversely affected.

Unemployment leads to social waste: Inability of educated people who are willing to work to find gainful employment implies a great social waste. Increase in employment in an indicator of a depressed economy.

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