Taimi200965417

UNEMPLOYMENT RATE IN NAMIBIA

The unemployment rate can be defined as the number of people actively looking for a job as a percentage of the labour force. This page includes a chart with historical data for Namibia Unemployment Rate.

The definition of unemployment as explained in the dictionary of economics is 'the state of an individual looking for a paying job but not having one'. Unemployment occurs when people face crisis in job opportunities due to the unpredictable nature of the economy. It's not a problem that has recently hit the economy rather it was largely evident during the 16th century. Despite coming from a good educational background and being eligible for jobs, people still remain unemployed.

The Government of the Republic of Namibia is severely alarmed in relation to the high and Persistent job loss rate, mainly amongst the youthful unskilled fragment of our Nation.expanded early stages unemployment has far accomplish penalty, together with traumatized dreams, loss of identity, and lack of passion for life in general. even though many efforts intended at creating sustainable job opportunity for the greater part of our society, the depressing truth is that them unemployment rate sustained to escalate.

Namibia Unemployment Rate The unemployment rate in Namibia was most recent reported at 51.2 percent in 2008. previously, from 2004 until 2008, Namibia Unemployment Rate averaged 42.5 Percent getting an all time high of 51.2 Percent in December of 2008 and a record low of 33.8 Percent in December of 2004 that means almost half of the namibian are unemployed

CAUSES OF UNEMPLOYMENT

Unemployment emerges from ample of factors. It can be the economic stipulation of a country or an individual's assessment to stay out of a job. Here im going to explain the most regular causes of unemployment in Namibia as a whole The exact cause of unemployment will always be unclear since there are several predictions, theories and explanations put forth by economists. Here we shall think about the Keynesian theory (of macroeconomics) explained by the renowned British economist John Maynard Keynes. This theory states that, unemployment is resulted from increase in demand rates while the economy operates below its growth rate and potential output.

Economic Inflation Namibia Inflation Rate Inflation is one of the oldest causes of unemployment. A state's economy faces a steep rise in prices as compared to other economies of the world. This leads to failure in exports as companies are not able to compete with others due to rise in price. Incomes suffer, people's savings fall and gradually companies start firing people, being unable to pay them on due time. Thus, the rate of unemployment increases.here several cause of high unemployement rate

Economic downturn Recession became one of the prime causes of unemployment in the United States in the year 2007. It became a global crisis wherein the rate of unemployment knew no bounds. A severe financial crisis hit almost all countries throughout the world. Rise in unemployment and sine die of established companies became a regular affair. People remained unemployed till the economies regained stabilit

Welfare costs Welfare payments although are security measures for people, cause unemployment to some extent. The aids given by government to the unemployed people actually reduce their willingness to work. This is an indirect negative impact of extended unemployment benefits because people become more dependent on the grants they receive. They register for government grants even if they are not looking for jobs, and the incentives they get are enough to fulfill their daily requirements. This way people remain deliberately unemployed.

varying Technology Since technology keeps advancing with passing days, most companies look for a change in workforce. Although, they do not fire people randomly, they hire people having specialization in the advanced techniques. A kind of imbalance is caused when they stop involving their own employees in major areas of production and development. This gives rise to frustration in work and many tend to resign. Thus old employees get substituted by the new and the former remains unemployed either temporary or permanently. In short we can say that, job cuts due to changing technology elevates rate of seasonal unemployment.

Job disappointment Job satisfaction is standard for self movement and gaining constancy in work. There are many people who take up jobs on temporary basis. The reasons being family pressure, financial crisis and for experience. However, a person who is not happy with his job can never continue it in the long run, because he is either making a compromise with his pay scale or his job profile. Thus, job dissatisfaction becomes one of the prime cause at the back unemployment. Employee standards Often employees are not given the due recognition for their good performance and dedication. This creates an unfavorable work environment, which further demotivates employees. When values of employees are neglected by the organization, they lose interest in their work. It becomes an indirect way of compelling employees to leave their jobs. People remain unemployed until they find a good job.

Racial Discriminationand corruption ethnic discrimination still prevails in many organizations. It's one of the most severe cause of unemployment. group who are not citizens of that particular country remain unemployed due to inequity on grounds of race, religion, class and ethnicity. It becomes very complicated to discover away a honest job beneath such conditions. therefore, earning money for continued existence becomes difficult and in due course they are forced to leave the country.

the government is ready to act and come up with many ways to reduce unemployement rate in the country here are some ways the goverment comes up with