High unemployment or underemployment
1. Three Quantitative Examples of Specific Problems
a. The highest unemployment rates among youth have increased in the Greece (24.1%) and Spain (19.8%) (Statistica, 2016) at present in 2016. The problems in these two countries are not a secret and led by microeconomic policies. Likewise, Spain is facing unemployment due to the soaring housing bubble burst (Patton, 2015).
b. Britain is recognized as one of the largest hidden army of underemployed concealed with the reduced ratio of jobless employees. The statistics show that underemployment rate is higher among the individuals aged under 25 at 23.8 per cent in the last quarter of 2014, which is 3.4 times the corresponding rate for all workers (Blanchflower, 2015).
c. A most shocking fact related with unemployment in Pakistan shows that the rates are highest in the last 13 years. It can be analyzed that the educated class is more than twice jobless as compared to the illiterate relative to above national average (8.5%) in 2014-2015 (Abbasi, 2016).
2. Three Quantitative Examples of Major Outcomes
a. Unemployment is the major cause behind the mental disorders and illness rising among the western youth. It can be depicted from the findings of the recent study by Gallup that depression rates in America are 18% among those who have been unemployed for 27 weeks or more. In other words, every 1 in 5 unemployed individuals is suffering from the depression disorder (Rosen, 2014).
b. Similarly, job insanity (unemployment or underemployment) has also placed significant effects on marriage decisions. Comparative to the last 40 years, American marriage behaviors have severely declined with the decline in family earnings. Likewise, unemployment is also one of the major reason behind extramarital births as only in 2014, extramarital births outnumbered births inside marriages in several EU Member States: Bulgaria (58.8 %), Estonia (58.4 %, 2012 data), Slovenia (58.3 %), France (56.7 %, 2012 data), Sweden (54.6 %), Denmark (52.5 %) and Belgium (52.3 %, 2012 data), as well as in Norway (55.5 %) (Eurostat, 2016).
c. High unemployment in the UK is the major reason behind the political instability in the Britain resulting into Brexit referendum 2016. Proponents of the Brexit believe that they can generate 300,000 jobs by starting trade deals with non-EU and fast growing economies around the world (Grandhi, 2016).
References
Abbasi, A. (2016, Januray 29). Unemployment rate highest in 13 years. The News .
Blanchflower, D. (2015, April 29). Britain’s hidden army of under-employed. Independent .
Eurostat. (2016, June). Marriage and divorce statistics. Eurostat .
Grandhi, K. (2016, June 18). EU Referendum: Brexit could lead UK economy into recession and increase unemployment, IMF warns. International Buisness Times .
Patton, M. (2015, December 28). The Five Highest Unemployment Rates In The World. Forbes .
Rosen, R. J. (2014, June 09). The Mental-Health Consequences of Unemployment. The Atlantic .
Statistica. (2016). Unemployment rate in member states of the European Union in May 2016 (seasonally adjusted). Retrieved August 08, 2016, from http://www.statista.com/statistics/268830/unemployment-rate-in-eu-countries/