When the unemployment rate is low, it is easy to find a job compared to when the unemployment rate is high.
Explanation:
Unemployment is a situation in which the individual of working age is not able to get a job. Structural, frictional, cyclical and seasonal are the four types of unemployment. It is easy to find a job when the unemployment rate is low, which means the opportunity to find the job is high.
Unemployment may cause major economic change in the society, as it leads to poverty. An unemployed individual may led to depression, low self-esteem, anxiety and other mental health issues. If a deserving individual couldn’t get a job, he undergoes tension, stress and strain on the body.
