Global Societal Problem, Argument and Solution

Introduction

Lack of job opportunities is one of the concerns people have to deal with in the current world. Many factors contribute to the problem of unemployment and lack of job opportunities. One among such factors is that the education systems offer courses that make a candidate unfit for the industry after graduation. As a result, there is a considerable gap between studies offered in tertiary institutions and requirements of the labor market. Besides, there is no adequate career guidance that helps students choose courses that will offer them opportunities once they graduate because they do not have employable skills indicated in their certificates. Besides, the organization seeks to lower costs while maximizing revenues.

On the other hand, students acquire knowledge from top-ranking institutions hoping that they will land a decent job. Despite the considerable amount of fees they spend on their education, these people fail to secure employment leading to life-threatening issues such as depression and anxiety if these people fail to get employment. Governments should develop strategies that will help such individuals start their own business instead of waiting to be employed and end up being wasted (Chigunta, 2017). The government can offer them free interest loans and create an enabling environment for businesses and prevent them from experiencing hardships when they cannot secure employment. This paper evaluates unemployment and lack of economic opportunities, the background to such issues, solutions, and ethical outcomes expected from solutions suggested.

Many issues result in unemployment and lack of economic opportunities. The number of professionals in a particular field increases while their unmatched opportunities to absorb this large of graduates. Therefore, individuals have to compete for the available opportunities to be absorbed. This has created other social issues such as corruption because some individuals engage in bribery to be absorbed. This results in compromising the role of competition in hiring the most suitable candidates for the available posts.

On the other hand, failing to secure employment among the graduates can result in health problems such as depression. This may affect the whole family and society, mostly when the child was their last hope following massive investment in their education. Besides, the victim may lose the sense of their future for which they have worked so hard to achieve. The victims might resort to socially unacceptable behaviors such as crimes as they become more frustrated due to lack of employment opportunities. Unemployment may destroy society as socially unacceptable behaviors like crimes, and drug abuse may be introduced (Saleem & Hussain, 2018).

Urban communities tend to be more concerned with unemployment compared to rural populations. High taxes and rents taxes people in the urban areas may make it necessary to seek an income source that will meet their needs. While rural societies can live comfortably without looking for alternative employment sources, it is hard for urban communities since they must have money for them to survive. The rural unemployed youths can work in their parent's firms and help their parents as they grow old and cannot handle their duties, instead of urban unemployed youths who have to raise money for both upkeep and paying the huge bills that await them. The people are unhappy about their lives and are frustrated and might resort to alternative income sources if what they are earning does not meet their needs. The situation can be worse if one is unemployed or they lose their source of income. This not only leads to individual frustration but also leads to social crimes as they try to sustain their livelihoods. Lack of opportunities is a critical issue in society because it not only escalates the poverty index of a country but also results in social crimes such as theft, which threatens an area's security (Srivastava Ms, 2019).

Citizens must pay taxes in exchange for social services and assistance in circumstances in which individuals cannot help themselves. The government needs to create fresh graduates opportunities by employing them in new projects to reduce unemployment and help them secure jobs. This enables the freshly graduated individuals to acquire experience that is critical to seek employment in other areas. Besides, these provide them with the resources that encourage them to acquire higher education to improve their educational qualifications to seek employment from other employers.

Another option available solution to unemployment among the youths is for the government to consider offering low-interest loans to the population's unemployed segment. Low-interest loans to people who have prolonged periods of unemployment enable them to create income-generating ventures. The government can develop initiatives where entrepreneurs who create employment opportunities are given funds to expand their initiatives. This will stimulate the spirit of entrepreneurship in the country and eradicates massive unemployment. This can have a lasting economic impact on the country as the people change their way of thinking to become employers rather than employees. Also, these individuals gain business skills and experiences that are critical when they become employed. However, such loans might be useless if these people are not equipped with the appropriate financial literacy. Financial and monetary institutions should join hands and educate individuals on utilizing their loans to create opportunities (Carpena et al., 2019). It will be advisable that people are granted a loan after they develop a feasible business project proposal. This will reduce these individuals' chances of misusing the fund because they have the necessary financial knowledge to enable them to account for every dollar they spend in their ventures. Low-interest loans promote these individuals' confidence, and they start taking commercial loans to expand their businesses. This ensures that these people contribute to the economic development and eventually by contributing to tax payment.

Entrepreneurs who do not have the appropriate skills to develop their innovations can be trained to do their best. The government can initiate free training programs that equip unemployed youths with employable skills to earn a living. Besides, such programs will help children from low-income backgrounds and do not have access to education use them as education platforms that will earn them skills to support their families financially. Existing training programs make it hard for youths to attain employment requirements due to a lack of experience. Thus, training and imparting online skills can help them diversify employment capabilities and earn a living. It is also crucial for training institutions to adopt artistic courses that have become significant in the modern economy. Besides, the youth also need training that will enable them to learn how they can use their skills and contribute economically and avoid giving up when they fail to secure employment. Training opportunities for the youth will help address these challenges and equip them with confidence so that they are able to implement their skills successfully. The youth should also be informed about the opportunities such opportunities present them in the future.

Statistical Analysis of Literature

González-Chica et al. (2017) conducted on the impact of unemployment on cardiovascular diseases and the quality of life showed that out of the 2379 sample used in the study, 13% percent had at least one of the chronic infections. Out of those interviewed, 73% were urban residents, while 75% had gone beyond the secondary education level. Individuals in government community housing had a higher risk of cardiovascular diseases compared to those earning homes. This indicates the prevalence of lifestyle conditions to unemployed and educated people, with the young and unmarried showing the highest prevalence of cardiovascular conditions. It would be better to conduct research that combines both sociodemographic and socioeconomic factors while establishing such relationships.

Ahmad (2019) researched to investigate the cause and consequence of unemployment. Out of the 120 participants in the study, 32.5% were unemployed because they had low education, 15.8% had inadequate skills, and 55% were never employed because they did approach the relevant employing bodies. 65% did not possess the necessary skills, while 73.3 percent were never employed, while 7.5 percent were unemployed due to business completion. However, unlike other studies, the research findings showed overpopulation was a significant cause of unemployment; unemployed individuals resorted to crimes and suicide. The study indicated with proper education, access to capital, proper skills, and a reduced rate of population growth, unemployment can be eliminated.

Lee et al. (2020) study on the impact of unemployment on nicotine dependence showed that unemployment had a statistically significant impact on nicotine dependence. However, nicotine dependence had an insignificant impact on unemployment. This shows that unemployment plays a vital role in introducing the unemployed population to antisocial behaviors, and the authorities concerned should employ a strategy for its control.

The proposed solutions present numerous ethical implications. Unemployed individuals can secure opportunities through training programs or government loans and empower them to be employed. Therefore, they will be able to the economic development of the country. This enables them to work independently without looking for employment elsewhere because they can start their jobs. Additionally, the spirit of entrepreneurship is enhanced. However, when unemployed youths are offered loans, they might not use the money for the right purpose. This might lead to low life and have even more adverse effects on the person. When such individuals mess up, they are likely to turn to drug use to control their anxiety, leading to addiction.

Besides, if the youths are not well monitored on the type of businesses they establish with the loans, they can use it for illegal purposes such as drugs. This is promoted by the fact they are aware that illegal businesses generate fast cash without much struggle within a short period. This will lead to further implications such as widespread drug addiction destroying other members of society's lives. Besides, if the individual uses the money for the wrong purpose, they might never be able to repay back. The government should bear in mind such factors and employ strategies to ensure the money is used for the right purpose. The loans should also be set aside for only people who have attained a specific age limit to ensure they can use the money wisely without wasting it. Serious training is required to ensure that the youths are equipped with skills to use their money wisely and ensure they can pay back as agreed.

Moreover, people can discover their production potential and create jobs for others and avoid wasting their abilities. Entrepreneurs will also emerge when the government offers both financial and educational assistance creating room for innovation and more job creation. The country can develop more jobs and generate more revenues for the government through taxes. These strategies ensure that the unemployed and the youths are kept active and are prevented from engaging in social crimes such as theft and drug abuse. The government needs to intervene to revert the negative impacts of unemployment and create economic opportunities for the population that has limited access to such benefits.

References

Ahmad, Z. (2019). An Analysis of the Causes and Consequences of Unemployment in District Peshawar. Journal Of Social Sciences & Humanities, 1(1 & 2), 85-97.

Carpena, F., Cole, S., Shapiro, J., & Zia, B. (2019). The ABCs of financial education: experimental evidence on attitudes, behavior, and cognitive biases. Management Science, 65(1), 346-369.

Chigunta, F. (2017). Entrepreneurship as a possible solution to youth unemployment in Africa. Laboring and learning, 10, 433-451.

González-Chica, D. A., Adams, R., Dal Grande, E., Avery, J., Hay, P., & Stocks, N. (2017). Lower educational level and unemployment increase the impact of cardiometabolic conditions on the quality of life: results of a population-based study in South Australia. Quality of Life Research, 26(6), 1521-1530.

Lee, J. O., Horwood, L. J., Lee, W. J., Hackman, D. A., McLeod, G. F., & Boden, J. M. (2020). Social causation, social selection, or common determinants? Examining competing explanations for the link between young adult unemployment and nicotine dependence. Nicotine and Tobacco Research, 22(11), 2006-2013.

Saleem, A., & Hussain, S. (2018). Socio-Psycho Impacts of Unemployment on Educated Youth: A Case Study of Lahore City. Pakistan Administrative Review, 2(2), 267-275.

Srivastava Ms, P. (2019). Crime, unemployment and society in India: insights from rape data. Undergraduate economic review, 15(1), 17.