Question

current economic conditions affect on employment

Answer 1

Assumption:

current economic conditions of the world and how it affects employment.

World is still under recessionary pressures and a growing protectionist policies of USA and retaliation by USA, European union and China make things worse for world output of goods and services causing large scale unemployment in countries which had offered cost saving options through cheap labors.

It is true that USA unemployment rate is low but this may be due to expansionary fiscal policies adopted by Fed and USA govt. This may not last long. It is also a fact that wages are not rising i USA.

G7 unemployment rates are increasing. In India a jobless growth is seen and also in China the low cost labor advantage is fading due to efforts by countries to promote domestic jobs.

Hence unemployment is major problem currently all over the world.