Employment,
Unemployment, Self-
Employment and
Underemployment
Employment refers to the
state of having a paid job. It
also refers to work done as an
occupation to earn a living.
What is Unemployment?
Unemployment
refers to the situation
where a person
actively seeks work,
but cannot or is
unable to find a job.
Unemployed persons are
therefore:
* laid off for one reason or * are temporarily ill
another * are awaiting results of job
* are not interested and are not applications
looking for a job * resident but do not have
* are awaiting results from employment status
examination * retired people
* are full-time students
Reasons for Unemployment
Lack of skills
Not educated enough/lack
qualifications
Cuts in government spending
Loss of markets
Reasons for Unemployment
Introduction of technology in
the workplace
Seasonal jobs
fired
Laziness
Problems Associated with Unemployment
homelessness
Increase in crime e.g. burglary or
sale of illegal substances
Financial problems- individuals may
not be able to buy their basic needs
Loss of wealth, savings and property
because of the inability to pay loans.
Problems Associated with Unemployment
Decline on the standard of living
Growth of squatting communities or
shanty towns.
Emotional and psychological problems
occur and social relationships are
affected
Frustration can lead to violence, crime,
substance abuse, prostitution etc.
Problems Associated with Unemployment:
Widespread Unemployment can lead to:
Social unrest and political instability
Underutilization of human resources
Fall in productivity
Social burden on the government
Less money being generated in the economy because
of the large numbers of persons who are unemployed.
This, in turn, may lead to more unemployment.
Strategies to Deal with
Unemployment
The government can provide
opportunities for persons to develop
skills and training in different areas
so that they can become employable
Expand government offices and
directly employ persons
Provide early retirement plans
Strategies to Deal with
Unemployment
The government can place
greater emphasis on
agriculture. This will benefit
the government and citizens
as it would be a source of
economic growth providing
revenue and creating jobs.
Strategies to Deal with
Unemployment
Encourage small business
ventures by providing loans for
persons with skills and talents
to set up their own businesses.
They will become self-employed
and at the same time create job
opportunities for others.
Strategies to Deal with
Unemployment
Provide tax shelters and tax relief measures.
Create incentives for local and foreign investors
so that they can generate jobs and money.
Employment planning- government can develop a
plan to identify what untapped growth potential
exist in the agriculture, export, tourism and service
industry to create job opportunities for others.
Self
Employment
Self-Employment this is a situation
where a person who has certain skills
and talents start his/her own business
or creates employment for himself of
herself.
Self Employed persons
include:
* Farmers
* Florists
* Fishermen
* Taxi-drivers
* Street Vendors
* Shop Keepers
* Entertainers
* Tradesmen etc.
Benefits of Self-Employment
Self-employment allows you to:
* Set your own rules
* Be independent * Get the help of family
* Set your own goals and pace;
members who are willing to be
you can work in the business with you
* Design strategies to achieve * Be always employed as long as
your goals you want to and as long as the
* Fashion your own career
venture remains viable.
path
Self-employment allows you to:
* Work whenever you want to and choose your own work place and
conditions of work.
* Maintain a balance between work, family and friends.
Disadvantages of Self-Employment
Self-employed persons bare all the
risks during the initial start up of their
business and is responsible for its
continued success.
The hours required to work are
usually longer and there is a constant
need for self-motivation, commitment,
sacrifice and creativity.
Disadvantages of Self-Employment
Income may be inconsistent
Self-employed people do not
get paid leave like others who
are working under someone
Disadvantages of Self-Employment
Self employed persons have more
responsibilities than people working
under others because they have to
make their own business plan and
strategies.
Persons may not be sure that their
business may succeed and sometimes
may go all out for a lost.
UNDEREMPLOYMENT
What is Underemployment?
In Trinidad and Tobago, we have plenty of
employment opportunities, but the jobs
available in the country do not match the
levels of training and expertise of our
human resources.
This causes Underemployment.
Who is an Underemployed
Person?
This is a person who works part-
time or in jobs which are below
the level of their qualifications,
skills and experience.
A highly qualified person may be
underemployed in a job that
does not use their skills or
training.
EFFECTS OF UNDEREMPLOYMENT
When a highly qualified person is
underemployed they may leave the
country to find employment
elsewhere. This is known as brain
drain.
