Migration

• Immigration - The people who come to your country for any kind of purpose, for economically related contexts, people usually immigrate for job opportunities and more income

• Emigration - Emigration is a process of people leaving a country of mostly economic reasons like unemployment, less income or cant fulfill basic needs

Unemployment Vs Work Force

• The work force includes employed people and also people who seek for employment

• Work Force = Employed People + Unemployed People ( Actively Seeking For Jobs )

• Thus work force includes unemployed people too

Problems Of Unemployment

• Lower Economic Growth – Fewer people working means less production and lower GDP. This affects the labor of firms making them produce less, in some terms at todays world, firms have the freedom to use machines which makes work more efficient. But when production is less GDP decreases

• Higher Government Spending – Governments have to spend more on unemployment benefits, welfare, and social security. This can take a lot of time particularly in the spending of education and work training, government also will be pressured by the deficit as exports will be less, imports will be higher and there are chances for higher prices for low production, this can increase inflation

• Low Tax Revenue - Considering income tax, the government receives less tax, including the taxes of firms as possibility of firms shutting down are high

• Report -: In economies like Japan, more than 182 companies went down due to shortage of labor

• Unemployment is a major problem as it should be addressed