Solution to unemployment: creating new jobs or early retirement

[StanCrypt]

Unemployment can have a negative impact on the entire economy. When fewer people are employed, output and GDP fall. Unemployed workers deplete state and federal government resources while tax revenues are lowered at the same time. Unemployment that persists can have major socioeconomic consequences. During the Great Recession, a research revealed how prolonged unemployment might harm workers' long-term earning potential, affecting the economy for years to come.
The Bureau of Labor Statistics releases the unemployment rate by year for historical statistics on US unemployment trends. It dates back to 1949 and shows the annual percentage of the labor force that is unemployed. It also reflects the success or failure of fiscal and monetary policies through time, as they have an impact on unemployment rates.
unemployment is cause by a number of issues raging from Low level of education, Mental issues, Physical health problems, Gender discrimination, Mobbing, Homelessness, Burnout, Stroke of fate, Financial crisis, Structurally weak regions, Lack of motivation. which begs the question, what is the solution to unemployment?

The solution to unemployment some would say is to create more jobs. The number of jobs that must be produced is determined by the unemployment rate and the number of persons seeking employment. When unemployment rises above 6% to 7% and stays there, the economy is unable to generate enough new jobs. one way new jobs could be generated is the creation of a federal job-training program that subsidizes private-sector firms who hire unemployed, formerly low-wage individuals might help employers struggling during crisis, as well as workers earn money and create a long-term job. This policy should also provide a full federal subsidy for the first three months of employment costs and a half subsidy for the next three months, with the employer guaranteeing to keep the worker on the job for at least another three months with no subsidy.

In Austria, two pension reforms raised the early retirement age (ERA) for males from 60 to 62 and for women from 55 to 58.25. Raising the ERA increased employment by 9.75 percentage points for impacted males and 11 percentage points for affected women, according to our findings. The revisions had a significant impact on the unemployment insurance program, but had little impact on disability claims. Men's unemployment climbed by 12.5 percentage points, while women's unemployment increased by 11.8 percentage points. The employment response was strongest among high-wage and healthy workers, whereas low-wage and unhealthy workers continued to retire early through disability benefits or used unemployment benefits to bridge the gap to the ERA.Taking into consideration spillover effects and higher tax revenues, we show that a one-year increase in the ERA resulted in a reduction of net government expenditures of 107 million euros for men and 122 million euros for women for a typical birth-year cohort.

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[davis196]

Lowering the age of retirement puts at risk the social insurance systems.
An increased amount of retired people increases the costs while a decreased amount of active workers decreases the revenue of the social insurance funds.
Creating government jobs is not a good long term solution for lowering the unemployment rates,because it makes many people dependent of the government and it also increases the budget deficits(while most governments in the rich developed countries have gigantic national debts).
The only way to lower the unemployment rates is to incentivize the private sector to create new jobs.
I don't know if this is possible,because the electricity and oil/gas prices will be going up.
We might enter a period of stagflation and unemployment rates will inevitably go up.

[_act_]

What I see as unemployment is the dependant of a nation on other nations that it ought not to be, if a nation is not producing and having services enough for the country to grow and develop and create enough employment but depending on other nations goods and work forces that his nation needs, then such country will have high rate of unemployment. Unemployment is not about the retirement age. We can see many countries that are depending on countries like US and China as their leaders failed to develop the countries, see Africa countries that are very dependent and see how their unemployment rate has increased.

[gantez]

unemployment is cause by a number of issues [/url]raging from Low level of education, Mental issues, Physical health problems, Gender discrimination, Mobbing, Homelessness, Burnout, Stroke of fate, Financial crisis, Structurally weak regions, Lack of motivation. which begs the question, what is the solution to unemployment?

I think the problem of unemployment is the challenge of the government. Government is responsible for the security of people's lives and property, also to provide better welfare for the people too. If there are no jobs for all class of people then the government is not performing to the best. All class of people suppose to have no  including cripple, the deaf and the dumb suppose to have a living from the government provided job but currently this unemployment is rising.

[macson]

Unemployment is a serious problem that even governments in many countries cannot solve.  i am a former employee, the uncertainty of the future and the mediocre salary made me decide to set up my own small business and now it is running smoothly.  It's very difficult to change people's perspectives, only yourself and circumstances can change that because being unemployed is stupid.

[Zilon]

Lowering retirement age can't solve the issue of unemployment because this will put the society at risk of having  higher taxes and reduced benefits from Medicare and Social Security and this might pose some insecurity to the society.  on the other hand Job creation without skills might be an average solution but not the ultimate solution. Having job-training programs that can inspire remote jobs, entrepreneurship and partnership can go a long way. it is obvious the government can't employ everyone but programs that can help start-ups can be organized

[Dunamisx]

Unemployment can have a negative impact on the entire economy.

Permit me to say not can it have a negative impact on the economy but it has already causes many economical problems relating to increasing poverty and social vises such that are the major constitute of crime and fraudulent activities in the society.

When fewer people are employed, output and GDP fall.

Employment of the youths should be one of the utmost provisions government should put in place in other to keep the running of the economy system on a balanced gauge, GDP is very important in every country as this is related with the determination of the  population size and the efficient output of man labour.

[hyudien]

The solution is financial freedom at the ideal age. Not all unemployed become a burden when they do have talent but there are no facilities provided by the government. So this often results in macroeconomic instability. Some people decide to retire early from work and open their own businesses, others are still forced to work because of urgent needs driven by rising prices of basic commodities. All financial needs must be considered by the state, but the fact is that at this time the pandemic has wiped out the economy in almost every corner of the country. As a result, the swelling social and economic inequality cannot be overcome.

[CaVO32]

Unemployment can have a negative impact on the entire economy.

Permit me to say not can it have a negative impact on the economy but it has already causes many economical problems relating to increasing poverty and social vises such that are the major constitute of crime and fraudulent activities in the society.

When fewer people are employed, output and GDP fall.

Employment of the youths should be one of the utmost provisions government should put in place in other to keep the running of the economy system on a balanced gauge, GDP is very important in every country as this is related with the determination of the  population size and the efficient output of man labour.

As much as possible, creating new jobs will give a very good heads up to the government. It may not be lucrative jobs, but it will lessen the unemployment among its people. With less unemployment, means, people can support themselves and it will also reflect on the spending power of its citizens. Maybe less crime also as people are busy attending their jobs. The government can create new jobs by creating projects for new infrastructures such as buildings, roads and others. The more projects they have, the better for its own people. And with less time for vices, will translate to less crime. So at the end, it will be a win-win situation for the government as well as its people.

[goaldigger]

Unemployment rate caused by many reason and you can consider here is the salary that they can get and also there’s a lot of ways to earn money online and maybe this also affects this simply because people will rather choose to earn money on their own that to work regularly everyday especially when they are more effective online. Reducing the retirement age can’t help at all since retired people are no longer part of the unemployment rate computation. Creating more jobs is the key, and increasing the pay so people don’t need to find another job just to support their daily needs, underemployment is also a concern.

[Synchronice]

There are a lot of reasons behind unemployment and it can't be solved so easily by just choosing A or B.
What was working in past, doesn't work in the modern world anymore. In the past women were used to stay at home and take care of family members, including the children but now they have the possibility to build career and work with men, this significantly increased the competitiveness and made the market more saturated.

The population is increasing and a lot of business integrates the automation system in order to function with minimal or no human intervention that helps them to save a lot of money and increase the efficiency and speed of the operations.
What is the most demanding now? The software development and works associated with informational technologies. Not everyone has the mental capacity to become a software engineer or data scientist, other sectors just pay too low to afford a normal quality of life. People who work in McDonalds, KFC, in supermarkets, Restaurants, etc have to do a lot but are paid very low, this makes them depressed and young people lose motivation. Some people learn economics, business administration, laws, etc but after 4 years of graduation and masters degree they analyze that the market is so competitive and there are so many, so many people out there in their field that it's almost impossible to get employed if you aren't the best or don't have great connections. These young people analyze this fact in late and lose hope.

What will be the most demanding in the future? Trades skills. At the moment there is not much salary in trades but the skilled labor shortage is expected that will in turn increase the salaries. But the young generation was taught that it's a dirty job and they should enter the university and graduate, etc.
The development and adoption of social media, especially Instagram makes it clear that hot girls don't want to be with the boys who do dirt work.

Some people are lazy and play games, their parents earn enough to feed themselves and the family members and don't push their sons and daughters to work.

Summarise everything and you'll understand the mistakes of humanity.

[crzy]

Creating a more healthy job to encourage younger generation to start working and help the economy rise again, because right now many young people don’t want to go for a job right away, they just want to explore first and when they already want, they are having a hard time finding a job because of being unexperienced. Every country have their own unemployment rate problem, is online blogging considered as employed?

[lionheart78]

The solution is financial freedom at the ideal age.

And another problem lies within this solution.   How does one achieve financial freedom at an ideal age?  And again this will go to the point where government needs to provide high-paying jobs or business venture opportunities to young entrepreneurs.  Financial freedom is easier said than done because people from all walks of life aim to become one but only a few achieved it.

Creating a more healthy job to encourage younger generation to start working and help the economy rise again, because right now many young people don’t want to go for a job right away, they just want to explore first and when they already want, they are having a hard time finding a job because of being unexperienced. Every country have their own unemployment rate problem, is online blogging considered as employed?

Rather than focusing only on creating jobs, I think the government must focus on creating and supporting income opportunities for its citizen. This stuff isn't only focused on creating jobs for employees but on creating a source of income for the unemployed, freelancers, entrepreneurs, and investors.

[ajochems]

Crypto currency will help the unemploymed for now.Only to share the knowledge about the project with the old friend or bitcoin.While sharing the knowledge,he will join their and earn good money from bounty for sure.So he get some employment from the crypto currency.By this way we can eradicate the unemployment in this world country.

[Scripture]

Creating a more healthy job to encourage younger generation to start working and help the economy rise again, because right now many young people don’t want to go for a job right away, they just want to explore first and when they already want, they are having a hard time finding a job because of being unexperienced. Every country have their own unemployment rate problem, is online blogging considered as employed?

Rather than focusing only on creating jobs, I think the government must focus on creating and supporting income opportunities for its citizen. This stuff isn't only focused on creating jobs for employees but on creating a source of income for the unemployed, freelancers, entrepreneurs, and investors.

Sometimes the problem here is not the government, sometimes people are the problem here especially those who don't really want to have a work and just waiting for the government's help before they move. In my country there's enough opportunity but guess what people still choose not to try to apply for a work because they are asking for more where in fact they are not even qualified for the position that they want. The government should encourage people and not feed them all the time.

[maikrothaman]

Unemployment can have a negative impact on the entire economy. When fewer people are employed, output and GDP fall. Unemployed workers deplete state and federal government resources while tax revenues are lowered at the same time. Unemployment that persists can have major socioeconomic consequences. During the Great Recession, a research revealed how prolonged unemployment might harm workers' long-term earning potential, affecting the economy for years to come.
The Bureau of Labor Statistics releases the unemployment rate by year for historical statistics on US unemployment trends. It dates back to 1949 and shows the annual percentage of the labor force that is unemployed. It also reflects the success or failure of fiscal and monetary policies through time, as they have an impact on unemployment rates.
unemployment is cause by a number of issues raging from Low level of education, Mental issues, Physical health problems, Gender discrimination, Mobbing, Homelessness, Burnout, Stroke of fate, Financial crisis, Structurally weak regions, Lack of motivation. which begs the question, what is the solution to unemployment?

The solution to unemployment some would say is to create more jobs. The number of jobs that must be produced is determined by the unemployment rate and the number of persons seeking employment. When unemployment rises above 6% to 7% and stays there, the economy is unable to generate enough new jobs. one way new jobs could be generated is the creation of a federal job-training program that subsidizes private-sector firms who hire unemployed, formerly low-wage individuals might help employers struggling during crisis, as well as workers earn money and create a long-term job. This policy should also provide a full federal subsidy for the first three months of employment costs and a half subsidy for the next three months, with the employer guaranteeing to keep the worker on the job for at least another three months with no subsidy.

In Austria, two pension reforms raised the early retirement age (ERA) for males from 60 to 62 and for women from 55 to 58.25. Raising the ERA increased employment by 9.75 percentage points for impacted males and 11 percentage points for affected women, according to our findings. The revisions had a significant impact on the unemployment insurance program, but had little impact on disability claims. Men's unemployment climbed by 12.5 percentage points, while women's unemployment increased by 11.8 percentage points. The employment response was strongest among high-wage and healthy workers, whereas low-wage and unhealthy workers continued to retire early through disability benefits or used unemployment benefits to bridge the gap to the ERA.Taking into consideration spillover effects and higher tax revenues, we show that a one-year increase in the ERA resulted in a reduction of net government expenditures of 107 million euros for men and 122 million euros for women for a typical birth-year cohort.

It will definitely improve the situation. Although I don't think Bitcoin is the complete answer to these problems. Sure, with a deflationary currency, people aren't as stressed about inflation: I hear it all the time telling people in the news that inflation is good for the economy... why? Because they can print money to further increase their incompetence? If governments were forced to work with a limited budget, they would pay more attention to the environment they operate, they would have to pay attention to how they do their job instead of being cumbersome in finding tax revenue. It also doesn't help that all the printing devalues everyone else's savings and forces people to invest in increasing the value of assets like homes. and stocks... I don't know if it's a good idea to force people to gamble with their savings.

[South Park]

Creating a more healthy job to encourage younger generation to start working and help the economy rise again, because right now many young people don’t want to go for a job right away, they just want to explore first and when they already want, they are having a hard time finding a job because of being unexperienced. Every country have their own unemployment rate problem, is online blogging considered as employed?

What happens is that due to how many jobs have been automated the number of jobs is going down, and while new technologies also generate new jobs the number of jobs being created vs the number of jobs being destroyed is not the same, and the former is way lower than the latter, this reduces the value of human labor as we have many more people pursuing a reduced number of jobs, so I do no think that the problem of unemployment can be easily solved, and if anything it is bound to get worse.

[adaseb]

When unemployment is too high it’s not good but when it’s extremely low it’s not good either. Right now we are experiencing very low unemployment levels. It’s hard for employees to find workers.

Next time you go out in Public, look how many times you will find notes saying that they are short staffed or they are hiring. It’s going on everywhere.

This is not good because it decreases productivity. The report came out last week of low productivity levels for workers. And it increases inflation because they need to pay a higher wage which is passed on to the customer.

[Zlantann]

In my country citizens believe that  government has the responsibility of creating jobs. But this perception is not 100% true because the government cannot create jibs for everyone. The private sector should be the major employer of labour. But the government has a greater responsibility which is the create enabling environment for businesses to operate. Security, favourable policies and availability of key infrastructures are very important in the quest to attract investors.

Early retirement is not the solution to unemployment because it would still make people unemployed. If you retire someone that is still fit and healthy early he would still go and look for another job. In fact to reduce unemployment retirement age should be limitless. But if the government create an enabling environment for businesses, the owners can run it till they even die.

[Oluwa-btc]

Providing low quality education are one of the drawbacks and limitations in the growth of a countries economy. You don't have to go crush on any country like(Russia/Ukraine).
Government are chiefly responsible for job creations, but when they fail is high time we take responsibility for ourselves by becoming self employed, this are normally taught in both college and high schools to be entrepreneurs, solving some of the roles in the society will create job opportunities for other and provide a means of income for once self and family.
As it's normalize to go for what you have a natural flare for,so as not to find your job too cumbersome to handle. Recently most people are moving into the digital world wanting to be an influencer and promoters or having a YouTube channel, investment in Crypto Currencies,Nfts, Affiliate marketing and others too many too mention. With the high cost of feeding I think and feel, it's high time we move isn farming as this will lessen a lot of spending in that aspect as even in the next twenty to thirty years people will still want to eat as that is a good business and a self employed business.