Compare the Economies Essay Example | Topics and Well Written Essays - 750 words

Comp atomic number 18 the Economies - Essay ExampleExamining unemployment levels is one important way of looking at the reason behind the reported high poverty levels in a country. The unemployment level for this purpose shall attend to the number of non-working (and at that placefore unproductive) individuals who ar of working age (usually 15 years old and above). The number of hoi polloi in a given population without jobs indicates the grammatical case of labor force the country has. Unemployment rates whitethorn invoke questions such as Why bent there enough jobs for everyone of working age Are there non enough business enterprises or investments in the country that contribute to job creation or If there are available jobs, why arent the concourse employed Do people choose not to work at all or Are there issues in literacy and education as head In addition, trends in unemployment levels whitethorn indicate how a country is progressing in terms of its growth and developmen t. Since Vietnam and the Philippines are still in their developing stages, the unemployment level could be an important indicator of how well and how fast they are achieving their development goals. In summary, a countrys unemployment rate may provide a lot of insights on its stinting growth and development.High unemployment rates could only cogitate deuce things... High unemployment rates could only mean two things either job seekers could not be given the jobs they are looking for or people simply do not want to work, that is, participate in the labor force. Given the status of the two countries chosen for this assignment as being underdeveloped and having large populations under the poverty line, it is highly flimsy that people in these two nations would not want to work and earn income at all. The latter type of situation is more likely to occur in highly developed countries wherein governments can provide for lusty subsidies for their citizens living allowances. In the case of Vietnam and the Philippines, both countries barely have enough financial resources to offer spare education to the public, much less to provide for the daily needs of their poor. Thus, unemployment in this context shall be center on not having enough jobs for qualified job seekers. A countrys economy is usually gauged as dictatorial or negative in terms of what goods and services it produces, how much of these are actually produced, how these goods and services are produced and for whom and how production rates can grow over a period of time. Simply put, a countrys stinting growth largely depends on its capacity to produce. Productivity in turn is influenced or affected by the availability and utilization of capital, natural resources and the labor force, among others. In order to produce goods and services, there must be work involved in the process and work is done by skillful and knowledgeable workers, which work the labor force. Thus, all things being equal, if more peopl e are able to work, more goods and services may be produced and if there is a constant increase in the number of people who work, steady productiveness