Eli5 Why unemployment in developed countries is an issue?

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I can understand why in undeveloped ones, but doesn’t unemployment in a developed country mean “everything is covered we literally can’t find a job for you.”?

Shouldn’t a developed country that indeed can’t find jobs for its citizen also have the productivity to feed even the unemployed? is the problem just countries not having a system like universal basic income or is there something else going on here?

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Anonymous 0 Comments

No it definitely doesn’t mean “everything is covered we literally can’t find a job for you.”

In a well functioning economy, unemployment is not that much of a problem, most people can find a job in reasonable timeframe and they won’t be jobless long. Those that can’t find a job are just generally useless so that’s an entirely different social problem, not a jobs issue.

But then sometimes the economy goes poorly and then you have a real jobless problem. People that could be productive aren’t because of bad politics or poor financial stability, it becomes quite a waste and really valuable people can fall on hard times and lose their potential to depression, criminality, alcoholism etc.

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