Global Graduate Unemployment Crisis - Free Essay Sample

Introduction

With the rising number of students joining universities, colleges, and other institutions, in order for them to secure a place at the marketplaces and be able to get jobs has proven to be a problem over the past decades. Most believe that when one goes through the school system, there is a high probability of securing jobs once they have graduated, but with the economic strains, it has been hard for the individuals who are graduates to get employed. The graduates usually face many challenges such as insufficient skills or lack of experience, and this forces them to involve in gang activities so that they can make themselves resourceful in the society or be in a position to care for themselves.

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Ability to Hire

The skills that the students develop when they are continuing with their education at various institutions vary with the practical jobs that are in the market place, and this may be another reason for the increase of unemployment among the graduates (Ferreira, Lizunkov & Politsinskaya, 2017). Mostly when it comes to securing jobs, it usually depends on a personal background that is usually influenced by gender, race, and other factors that play a significant role in making one will get employed (Ferreira, Lizunkov & Politsinskaya, 2017). Also, the skills that one develops at the school grounds are usually insufficient at most of the organizations. It is because education is limited to some level, therefore making it hard for someone to get employed.

Experience

The main reason why graduates find it hard to secure jobs is that most of the employer’s value experience more than the grades that the graduates have (Ghani & Muhammad, 2019). Also, with the skills that one may have gained during the internship may not be sufficient enough for them to secure jobs at different market places (Ghani & Muhammad, 2019). It makes employers reject their applications.

Unmarketable Courses

Some of the courses or majors offered by some institutions may not be marketable (Hamid, Mohamed, Devarajoo, Mani & Lazim, 2020). It is because the programs may be insufficient depending on the skills learned, and it makes it hard for employers to employs individuals who have pursued this kind of course.

Skills Mismatch

Skill mismatch is the reason why graduates who have completed their education have trouble finding jobs (Hamid, Mohamed, Devarajoo, Mani & Lazim, 2020). Most of the businesses need skills that the graduates have not yet acquired (Jonathan C., 2018). It is because most of the graduates have trouble transitioning from school to work, and thus the companies cannot employ them.

Also, most of the young persons who are graduates and have advanced degrees mostly become choosy and render themselves overqualified for performing some jobs, which makes them want to select jobs at higher companies (Jonathan C., 2018). Also, the companies do not allow young persons to explore their full capabilities and potentials; thus, they cannot employ graduates who have just finished school.

Geographical Areas

Some geographical regions tend to influence the employment of graduates. In some regions, for example, in urban areas like in the cities, then individuals are at a lower chance of getting any jobs (Merino, Privado & Arnaiz, 2019). It is because of the high population and that everyone is storming the city in search of specific jobs.

Lack of Jobs

Most undergraduates finish school with high hopes that they will be able to secure various jobs in the outside world. In some of the countries for one to find a job that relates to the course that one has been undertaking for years may be a challenge (Merino, Privado & Arnaiz, 2019). Also, some graduates may define themselves as being overqualified to perform or handle some jobs; thus, they may decide to be choosy and look for jobs that offer a higher wage of which this idea may not be a success.

Cyclical Unemployment

The primary cause of unemployment of graduates is due to the recession or decline in the economy. Most of the young individuals who are graduates are at a higher chance of being denied opportunities or losing their jobs (Neneh, 2020). It is because they lack experience, and when the economy has declined in a specific country, older individuals with much experience are brought aboard to work in order to save the situation.

Cultural and Social Factors

Graduate unemployment is usually high in areas in persons who have a terrible history, for example, drug use, prostitution, criminal records, and broken families (Neneh, 2020). These factors in some regions and countries in the world are taken with seriousness; thus, graduates who have a history of these factors find it hard to secure jobs or opportunities in these regions.

Corruption

In third world countries where corruption is at its climax, it affects the rate of employment among graduates. Corruption in these countries has an impact on the job recruitment process (Neneh, 2020). Most of the graduate’s face challenges in getting jobs; this is because, with the high level of corruption in one`s country, one is forced to seek help from senior officials in the government or workplace (Neneh, 2020). The graduates are also forced to pay some amount of money as a token so that they can secure jobs when they are applying for various jobs.

Black Market

The graduates may lose job opportunities in areas where the underground economy has taken over (Schmelzer & Schneider, 2019). The black-market entails the sale and purchasing of illegal drugs, soft drugs, and gang activities. These activities usually make the economy of a country to escalate downwards and thus deny the graduates the ability to secure jobs that they have worked for many years.

Financial Instability

Financial instability is a significant cause of increased unemployment among graduates in various states and regions. When a country is undergoing a financial crisis, it leads to a decreased number of employment opportunities. Therefore, the employees are forced not to employ any other candidates in the firm (Schmelzer & Schneider, 2019). It is because the employees will be required to form ways in which they can ensure that the company`s resources are well managed, and the losses are cut. It also includes no employing of candidates as a way to manage the financial issue.

Consequences of Graduate Unemployment

Most of the graduates who have completed their studies and they do not get any jobs; poverty may strike them and force them to involve in criminal activities (Sinha, 2018). With the high rate of unemployment among many young undergraduates, most of them are forced to indulge themselves in criminal activities such as selling drugs such as marijuana, cocaine, and heroin (Sinha, 2018). They involve themselves in these activities so that they can be able to get quick money which they will use to manage and help themselves and that they do not have any reliable source of getting money.

With the high unemployment of graduates in the country, it leads to the economy operating below its full potential and capacity, and therefore it leads to lower-income. It is because the unemployed graduates cannot purchase goods, thus leading to lower outputs (Vilchinskaia & Volokhova, 2019). An increased level of unemployment in society usually harms the economy. It will also lead to increase of debt which affects the economy of the country this is because the country will be forced to borrow some loans from other countries in order to pay the loan but, this will be a problem since the country and state will not be able to forge forward, but they will be trying to pay off the debts that had been borrowed.

Conclusion

Thus, one of the possible solutions is to encourage the graduates to involve in entrepreneurship by setting up small businesses and taking financial risks. Through entrepreneurship, they will be able to self- employ themselves and therefore create their wealth (Ferreira, Lizunkov & Politsinskaya, 2017). By teaching the graduates how to manage and operate one`s business, this will help to eradicate the issue of unemployment and also positively drive the economy of the country (Zhang, 2019). Through entrepreneurship, the individuals will hardly rely on the job opportunities offered by the government or private firms, but they will make their selves useful by starting their businesses.