Unemployment and Job Creation

Unemployment refers to the situation when people who are willing and able to work cannot find jobs. It often rises during economic downturns, where businesses cut back on hiring. Job creation, on the other hand, is when new jobs are formed, typically through business expansion, innovation, or government initiatives. Healthy job creation helps reduce unemployment, boosting the economy by increasing consumer spending. Factors like education, training, and economic policies influence both unemployment rates and job creation, making it essential for governments to support workforce development and economic growth to foster a stable labor market.