Introduction
Unemployment and lack of economic opportunities are pressing social problems with far-reaching consequences for society. Problems of unemployment for citizens can affect all spheres of life because the development of the economy and technological innovation have led to changes in all industries. Furthermore, they directly impact their well-being, limiting people’s opportunities and hindering the development of citizens.
This subject of discussion is a social problem because unemployment has significant consequences for individuals and society through the relationship each citizen has with various areas of public life. For people, the inability to provide sufficiently comfortable living conditions can lead to decreased self-esteem and insecurity in social interactions. The government and non-profit organizations should focus on reducing unemployment and increasing citizens’ economic opportunities. To combat the global problem of unemployment and a lack of economic opportunities, it is essential to prioritize the development of entrepreneurial skills in people, providing them with meaningful and rewarding employment.
Problem
Causes
The growth of society led to significant changes, which in turn resulted in a high level of unemployment. This is supported by the fact that the development of economic opportunities and the rapid globalization and industrialization of the world in the 20th century have led to a crisis in the labor market (Matyushok et al., 2021). Such a crisis is explained by the fact that many jobs have become more automated and no longer require human intervention. This is because, for each group and specialty, there may be a shortage of jobs due to overcrowding in that labor market.
Large corporations occupy significant market shares in their segments, depriving people of the opportunity to develop their businesses and engage in entrepreneurial activities (Rozhkova & Olentsova, 2020). Small entrepreneurs have become less likely to gain market share because they lack the same large-scale opportunities. The problem affects various population groups, including young people and older adults. These concerns fall partly on the state’s responsibility, which cannot correctly distribute economic benefits such as equal pay.
The deterioration of the economic condition of many people is evident in the changes in the number of banks in the United States over time. For example, there are now approximately 4,100 commercial banks, whereas in the 1980s, there were 14,000 (Fitzpatrick & Hollerith, 2023). Thus, it can be argued that countries’ rapid progress and development have made it more difficult for people to get job opportunities.
Difficulties and challenges for job seekers are also caused by the fact that many companies do not hire employees without prior experience. Attitudes toward employees have evolved to the point where firms prioritize those who can bring the most significant benefits to the company (Bonaccio et al., 2020). Thus, it can be argued that applicants who lack significant abilities and have recently completed their education have limited employment prospects.
Thus, many applicants struggle to find a job and gain the necessary experience. This, in turn, prevents them from applying for higher-paid jobs in the future. As a result, a vicious circle is formed, and people are unable to find a way out. This is a significant and relevant reason, as young professionals often must work in low-paying jobs for an extended period to gain valuable experience. Due to this factor, additional difficulties arise for people that hinder their job search.
Impacts
Unemployment and poor economic opportunities are social problems that can affect all people by depriving them of their basic needs. One of the main reasons this topic is important is the increasing level of economic inequality. According to the Peter G. Peterson Foundation (2022), the incomes of people with high-paying jobs have increased by 16% since 2019, while the incomes of those with lower incomes have declined by 4%, considering the inflation rate. This demonstrates how strongly the society is diversified in terms of income and potential.
Without economic opportunities, some people cannot obtain a satisfactory means of subsistence (Steinfield & Holt, 2019). This affects the creation of social stratification when there are a small number of wealthy people and a majority of the poor in the country. Thus, the fallout and middle-class systems negatively affect the economy and can significantly undermine social cohesion.
Economic inequality can grow and become an aggravating factor that affects how people respond to social upheavals (Wei et al., 2019). Many citizens are unable to provide adequate protection when faced with significant losses due to natural disasters. For example, fires or floods can cause significant damage to personal property, which affects people’s financial situation. Thus, poverty will directly affect their ability to protect themselves and their lives.
Furthermore, social discontent and tension may be due to increased social inequality. Individuals who struggle to find employment for an extended period and lack economic opportunities to earn a living may subsequently experience a decline in motivation (Adelaja & George, 2020). As a result, they develop a sense of inferiority and uselessness, which affects their emotional tension and interpersonal relationships.
Divorces, family breakups, children left without parents, and other social problems can result from unemployment and lack of economic opportunities. These problems can be exacerbated when citizens’ constant financial insecurity leads them to become dependent on state welfare programs. According to Carter (2023), 12% of men and 15% of women fall into this category, which means that programs serve 65 million people over several years. Thus, this category of people turns out to be one that significantly limits the country’s economic potential.
Unemployment and a lack of economic opportunities should be considered a social problem because they lead to a deterioration in the condition of young professionals. Many specialists struggle to find employment, which prevents them from utilizing the knowledge they acquired at universities (Adelaja & George, 2020). This happens because people who have completed higher education and are entering the labor market for the first time are highly susceptible to the first impression of finding a job. However, their expectations collide with reality, where they are not needed in the job market and cannot find a good workplace in the work environment. As stated earlier, this has become more common due to globalization and industrialization.
The high unemployment rates among the young population, in turn, lead to the fact that the current economic opportunities and prospects for their development are deteriorating (Von Wachter, 2020). Such a trend can harm self-esteem, personal development, and social stability, and impede the sustainable development of youth. Thus, the problem of a lack of jobs and economic opportunities leads to societal tension that begins to grow and cannot be adequately controlled.
Solution
Growing Entrepreneurs
Given the described problem of a lack of jobs and economic opportunities, several solutions can be proposed to help alleviate the situation and enable people to earn a living. Firstly, an important aspect is the development of entrepreneurial capabilities and skills in people. Incorporating such knowledge, for example, in extracurricular courses such as educational clubs, can help many people acquire the necessary skills that will enable them to create economic opportunities.
Starting and maintaining a business can create a significant number of jobs, providing others with employment opportunities and helping them realize their full potential. Such a decision will contribute to innovation development and increase the number of people who can find jobs without difficulties. According to Akhmetskin et al. (2019), most outstanding entrepreneurs can succeed because they have the right skills and knowledge. Entrepreneurial capacity decisions may primarily affect the youth population since it will be most convenient to study entrepreneurship in the context of university studies. However, older people will also be able to receive proper education by creating separate external courses that may look like interest clubs.
Regarding disciplines, the decision to study may primarily benefit individuals specializing in economics or law. According to a report by Britton et al. (2021), these professions have the highest rate of social mobility, which is 2.2% and 2.9% respectively. Thus, we can say that specialists who have received the appropriate education have a great chance to profit from developing entrepreneurial skills.
Entrepreneurial skills can have a significant impact on people’s economic opportunities. In their research, scientists Liu et al. (2019) and Voda and Florea (2019) demonstrate that implementing entrepreneurial training programs for individuals can significantly enhance their ability to start a business in the future. For example, students of economics colleges will have sufficient knowledge to understand the market opportunities available for entry. Additionally, other specialties can be implemented as they correspond to different areas of goods and services. Those who have completed an entrepreneurship training course are more likely to open their own business than those who have not had the training (Wei et al., 2019).
Universities and individual courses can provide such programs. It would not be profitable for businesses to offer such knowledge, as it could potentially distract their employees from their primary tasks. Thus, it can be considered that entrepreneurial training programs, when implemented in higher education institutions or as individual courses, can have a complex impact on employment and help many people find employment opportunities. Economic opportunities are more likely to be developed due to the emergence of numerous private companies of various sizes. Thus, jobs can be created nationwide to invite people looking for work.
Creating Job Opportunities
Another solution could be to invest in programs designed to create jobs. Jobs can be increased by actively building the growth potential of enterprises and promoting them in the labor market. Such solutions can stimulate economic growth and help many people seeking employment opportunities. These initiatives have proven successful in South Korea, where several job creation strategies have been implemented, including supporting Small and Medium-sized Enterprises (SMEs), investing in innovation, and promoting start-ups (Ha & Byrne, 2019). Governments have provided many small businesses with opportunities to grow by awarding government contracts and offering low-interest-rate financing for their development.
In addition, Japan is actively developing an initiative to create jobs for young people and pensioners, offering them simple paid work, such as pedestrian traffic control or newspaper delivery (Suzuki et al., 2020). Thus, it can benefit all population segments, as people will feel a sense of solidarity and improved socialization at any age. In addition, a job creation initiative can complement a decision on entrepreneurial education.
Expanding the creation of new jobs can provide employment opportunities for many people, thereby mitigating the adverse effects of social inequality. When investing in small businesses, the country will be able to create economic opportunities as the turnover in the market will increase, which will lead to more taxes (Sall & Burlea-Schiopoiu, 2021). This means that business support can significantly improve people’s employment opportunities and open up significant economic opportunities for the country. Business development can ultimately pay off, and companies can replenish the country’s budget through their activities.
Strategic investments and support programs can target specific sectors, such as green manufacturing or the development of renewable energy sources. Strengthening such programs will better affect citizens by creating more jobs for them. This program will have a positive side effect, as young companies will help improve the country’s environmental situation. Implementing the discussed government interventions can create a favorable environment for the growth of new small companies that will create more jobs.
Evaluation of the Evidence
The evidence for the performance of the solutions presented in this paper may be subject to some bias. For example, one may be that the works in question covered all age groups, while the strategy proposed in this paper focuses on young people. However, all sources used are peer-reviewed scientific journals and have been data authenticated.
For example, an article by Liu et al. (2019) was written by authors with relevant knowledge in economics and public administration. Moreover, the same information is confirmed by scientists Voda and Florea (2019). The general conclusions that several groups of scientists have reached may indicate that the strategies they are considering have achieved some success. Authors Akhmetshin et al. (2019) and Wei et al. (2019) considered the implementation of entrepreneurial skills from a psychological and educational perspective.
At the same time, in some articles, it is possible to consider prejudices manifested in expressing a public opinion that does not require confirmation. This is evident in statements about the lack of jobs or the need for material support for businesses. Such shortcomings in scientific papers can be seen as stretching the material rather than providing a concise and precise analysis. However, this has little effect on the conclusions because the statements presented by scientists as conclusions are based on the analysis they provide.
Many sources cited to prove the facts considered the impact of the decision to sponsor job creation programs. It is essential to clarify that the same results were obtained from different countries, indicating the effectiveness of such programs. For example, Ha and Byrne (2019) reviewed Korean programs, drawing on considerable evidence and other research. At the same time, Suzuki et al. (2020) considered investing in job creation programs in Japan, which showed the effectiveness of this strategy across the board. Additionally, each source included the necessary calculations that clearly demonstrated the importance of sponsorship programs.
The strength of the sources used is objective statistical data. For example, researchers from Sall and Burlea-Schiopoiu (2021) support their findings with an example of an increase in the Gross Domestic Product (GDP) in Senegal following an investment program aimed at creating jobs in the country (Figure 1). The weakness of some sources lies in the fact that the authors often formulate statements as personal opinions.
For example, Matyushok et al. (2021) argue that maintaining a business is not always efficient, but they provide no reason for this assertion. The statistics provided illustrate the impact of job creation on individuals. Since the GDP has increased, it indicates the creation of economic opportunities and, consequently, job creation. Other world economies can work according to this principle, creating suitable economic opportunities for citizens.
Future academic developments are needed to curb unemployment and increase economic opportunities. Their task should be to develop new methods and strategies to address the problem. This is important as most researchers focus on options that involve investing in job creation programs. This is a working system.
However, it allows for solving the unemployment problem, rather than one-sidedly, without considering complex factors. It is essential to study all the reasons for the decline in the economic opportunities of the population to develop a competent strategy. At the same time, other options, including the development of entrepreneurial skills, remain poorly understood and require more attention. This may lead to finding more efficient and cost-effective ways to increase the number of jobs.
Ethical Outcomes of the Solution
The lack of employment and economic opportunities inconveniences people or, worse, typically prevents them from maintaining their livelihoods. Decisions related to training people and investing in job creation have some positive ethical implications. Such impacts can be observed in an increase in personal autonomy among people.
If people receive a stable income, it can be reflected in their future, improving their overall well-being. Achieving this will make it possible to eliminate the factors of uncertainty that could negatively affect their well-being. Decisions to invest in programs to create jobs and train people in entrepreneurship can have positive ethical implications. They can be traced to people gaining a more prosperous and independent life. This, in turn, will help to create greater economic opportunities.
Unemployment and the lack of economic opportunities are negative social factors; their solutions can cause negative ethical responses. For example, resource allocation conflicts can arise when government programs are created to invest in job creation. This is manifested in the fact that the public may react differently to such initiatives by objecting that financial resources can be directed to other, more relevant and vital areas. In this context, Rawlsian theory can be cited as an example, emphasizing distributive justice (Asakura et al., 2020). In addition, encouraging the creation of more businesses may raise environmental concerns as more factories and industries appear.
One can cite an example of environmental ethics, which can be violated due to a deterioration in concern for nature (Rui & Lu, 2021). These ethical implications can become an opposing side of the decisions regarding overcoming unemployment and creating jobs. For example, citizens may prioritize financial investment to develop a more accessible healthcare sector.
The case for teaching people entrepreneurial skills and investing in job creation far outweighs the negative ethical implications. The rationale is that eliminating the shortcomings of these solutions can be achieved by promoting the creation of environmentally friendly companies. This means the government must invest adequately in organizations that will help society.
In the proposed system, companies may have incentives to create a more socially approved and efficient business. In this way, it will be possible to satisfy the demands of society and the potential dissatisfaction that may arise from the implementation of decisions. People need the state to provide them with the best possible opportunities to get a job and economic opportunities, as their well-being and ability to survive depend on it. The ethical implications of an intervention for solving people’s social problems can be positive for all members of society.
Conclusion
High unemployment and lack of economic opportunities are acute social problems requiring serious intervention. In this regard, it is essential to present solutions that could seriously affect the elimination of these inconveniences. The government pays significant attention to these aspects since the well-being of many people depends to a large extent on them. Thus, it is important to take reasonable steps to resolve the issue.
One option is to create programs to train people in entrepreneurial skills. In this way, it will be possible to increase people’s knowledge of business and influence their creation of companies, improving economic opportunities. Investing in initiatives that generate jobs is another possible way to address unemployment and limited economic opportunities. It can improve citizens’ financial independence and make their lives more comfortable.
This is an essential issue for discussion because employment opportunities determine how well people feel in society and how they can provide for their livelihood. The topic under consideration is a serious one since unemployment and lack of economic opportunities can lead to a deterioration in living standards and an increase in the number of homeless people. Thus, researching the causes of unemployment and finding ways to eliminate this problem can be helpful, so that new options for solving problems can appear.
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