Question

Unemployment and economic policy.

What policy advice would you give to a government trying to reduce unemployment?

Answer 1

When it comes to unemployment, the government should focus and target it with the best possible solution. some of the steps or policies can be-

1. INCREASE DOMESTIC PRODUCTION-This can help in more and more employment and growth opportunities to every class of people and ultimately benefits the government for the betterment of the economy

2. TAX AND SUBSIDIES-the lowering of unnecessary tax and providing the needy ones with subsidies will help them actually to generate employment

3. CYCLICAL EMPLOYMENT- some types of unemployment cannot be controlled like frictional and structural but some unemployment like cyclical can be controlled by generating employment

4. EDUCATION-IT is the most important key factor for any economy to control unemployment. By training and knowledge given to people will actually help to curb unemployment.