1.0 BACKGROUND OF THE STUDY
Unemployment is a key measure of economic health. It is a major factor in determining how healthy an economy is; if the economy maximized efficiency, everyone would be employed at some wage. An individual unemployed is both unproductive and a drain on society’s resources. However, while unemployment seems a basic statistic – the number without jobs divided by those with jobs – the issue is anything but. Unemployment is a powerful statistic that shapes government policy and personal decisions.
In most less developed and in some developed countries in the world, people who are without work and actively seeking work are said to be unemployed. The clear point is that it is the general issue that the world at large is suffering from, and it is giving many Governments cause for worry considering that the goal of Government is to provide full employment at all times. It is a persistent and unimaginable problem facing all industrial countries of the world.