Unemployment in Europe Essay Example for Free

Unemployment in Europe Essay Unemployment is the state of being jobless or else being without an occupation and you have looked for a job without success. You should also be willing and ready to work if given a chance. Lack of occupation is a severe problem not only in Europe but in all corners of the world. People who are unemployed are seen as a liability to the society. This is because people with no jobs or other sources of income are always seen as dependent on their colleagues employed with financial stability. The unemployed find it difficult to live up to their basic needs. Unemployment in Europe and measures put in place Technological change and expansion in international trade has sternly affected employment adversely. As technology advances more people are n being left unemployed while others who were formerly employed being laid off. This is due to the fact that modern technology aims at reducing the cost of manpower by availing machines that are more productive than a group of people. The unskilled personnel are replaced with more skilled employees in a bid to compete effectively in international trade. High levels of unemployment may result in social problem like crimes, prostitution among others. The unemployed will seek other sources of income as the disposable income they used to get before reduces or is completely not available. During the unemployment period the workers also lose their skills and have the fear of their jobs being taken up by people from foreign countries. The problem of unemployment is being curbed by putting in place policies and measure that protect employees. Such measures include extending employee benefits during recession to cover a longer time frame. It is also illegal in some countries to fire more than twenty employees without following some legal processes. The governments in Europe and USA help the unemployed through the social welfare program where they get benefits such as insurance and subsidies. Most of the people who lose jobs are either unskilled or low performing. Once they lose their jobs it is normally hard to get back their jobs as their positions are taken over by more skilled and much productive workers than them. Saudi Arabia is a prime market for foreign business and investors due to the following reasons. First of all it is an oil producing country with vast deposits of petroleum products among other natural resources and minerals. Saudi is well known for its effort in fighting stabilization of petroleum products. Foreign investors are attracted by the huge deposits of minerals which they go to exploit. Mineral exploitation has always been known to be a highly profitable business in which everyone is interested in. The oil products also provide a cheap and reliable source of energy and fuel for the industrial machinery. Saudi Arabia also has a sound economy with a fast growing young population. The population provides cheap labor for industries in the region they by lowering the labor costs for investors. The banking system is well managed and transparent. This gives the investors assurance that their money is in good custodian. It also provides incentives to investors especially targeting to put up new manufacturing zones in the area. Financial advices are also offered to ensure that investors’ funds are properly used and managed to avoid investing in unworthy businesses. Conclusion High levels of unemployment will always have adverse effects to the unemployed, general public, employer and even the government. The unemployed suffer psychologically while the society is faced with crimes and the government faces economic hard times as the unemployed depend on them. To conclude all stake holders should ensure that they minimize the number of people unemployed in the country.