Choose if the following statement is True/False.

Unemployment has a detrimental impact on the overall growth of the economy.

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True

False

answer is A.

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Detailed Solution

The above statement is True.
The country's economy is badly impacted by unemployment. Human resources are wasted since individuals are not engaged in any constructive activity while unemployed. They have become a national liability as a result. People without jobs cannot provide for their families and educate their children. As a result, the entire family becomes dependent on the country, increasing the dependency of the jobless on the country's working population. A jobless person's quality of life declines. It might lead to criminal activity like stealing, robbery, etc. A depressed economy with a large portion of its human resources not working productively is one with rising unemployment patterns.

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