nto agriculture will facilitate more export of primary agriculture products to UK and North America, to a service economy in which tourism is now the principal earnings of foreign exchange.
While the government of Jamaica seeks to create avenues for the improvement of the economy by using strategies to reduce unemployment, we can reduce unemployment by creating work at home;
Repairing, sewing and altering clothes
Crafts such as- pottery, knitting, quilting, crocheting, making candles, soaps and even offer classes in these areas. Let’s work to turning these skills into bigger industries.
Teacher at home who are currently unemployed work out of home; offer music class and tutoring.
House wife with no skills can sell their home grown flowers and vegetables or offer room and board.
It is also ample time that the government considers charging the richer population more on taxes and the poorer population less on taxes. I completely agree with Karl Samuda when he stated that, “to solve the problem of unemployment we need to provide a society and a macroeconomic framework that will encourage people to invest in the country (jamaica gleaner, 2004). Only through investment and the creation of a new business will we find it necessary to provide jobs for all those who are unemployed (jamaica gleaner, 2004).
Jamaica is in serious economic problem where unemployment is concerned as employment is not limited to a person’s financial security, it also affects their emotional stability, psyche, family relation and eventually leading to crime and violence. Unemployment is not caused by one affecting factor but by a variety of reasons like educational qualification and relevant skills. Unemployment cannot be solved but can only be reduced which in a sense is not a bad thing, as the economy needs some amount of unemployment in order to strive. More emphasis should be place in educating people, teaching of skills and most importantly, the creating of jobs.
The objective of this research is to outline an economic issue in Jamaica, review theories about this same issue, recommend economic concepts or interventions that could correct this issue and out like the benefits of using those concepts and intervention. Unemployment is the economic issue selected because according to politics.co.uk, unemployment is an economic indicator that refers to the number or proportion of people in an economy who are willing and able to work, but are unable to get a job; a person in this situation is said to be unemployed (reference, n.d.). The researches uses the objectives listed above as guide lines in obtaining information from articles and web pages to show that unemployment is a growing problem to the Jamaican economy and offer solutions to reduce this problem.
Table of contents
What is unemployment and why it is considered and economic issue
Reviews of economic concepts to correct the issue of unemployment
Recommended economics concepts to correct the issue of unemployment
Benefits of the concepts recommended
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Durueke, U. (2012, 04 25). Reducing unemployment. Retrieved 11 15, 2012, from www.jamaicaobserver.com: http://www.jamaicaobserver.com/letters/Reducing-unemployment_11331205
Eckstein, M. D. (2009, 8 11). Economic Theory: Advantages and Disadvantages of Unemployment. Retrieved 11 15, 2012, from voices.yahoo.com: http://voices.yahoo.com/economic-theory-advantages-disadvantages-unemployment-4045389.html?cat=3
Hendrickson, J. (2010, 05 02). The everyday economist. Retrieved 11 15, 2012, from everydayecon.wordpress.com: http://everydayecon.wordpress.com/2010/06/02/keynesians-monetarists-and-unemployment/
limited, T. (n.d.). tutor2u- unemployment- policies to reduce unemployment. Retrieved 11 16, 2012, from www.tutor2u.net: http://www.tutor2u.net/economics/content/topics/unemp/unemp_policies.htm
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