Question

This reflection is a part of your participation grade and may be used in the live session.

The government provides safety nets for those who are unemployed, in the form of unemployment insurance. Administered at the state level, this provides a benefit to those who lose their jobs and are unemployed, generally up to 6 months. Do you think this safety net helps or hurts foster a well-functioning economy? Briefly share your perspective and then return to this element to comment on at least one fellow student's posting.

Answer 1

The above stated are the possible reasons of unemployment. safety nets protect people when they are unemployed. Safety nets help the temporary well being of the unemployed and help them to find their new jobs and careers without the worries of finances.

A careful implementation of this policy will help foster a well functioning economy. The major challenge that is faced is collection of correct information. In this case if the information is forged, which is very easy on this case, it will result in unnecessary expense for the government and the really needy will not get the scheme. The process of information must be decentralized upto the grass root level so that the realy needy get the scheme.

The real reason for unemployment must be analysed so that we can understand if the unemployment is genuine or if it happened out of laziness or because of easy availablitiy of alternate resource. Also the frequency of the eligible candidates must be studied so as to understand if the situation is genuine or is being staged by the candidate.

A little expense in this depth of information collection will reduce the risk of wrong practices.

The safety nets do offer a helping hand to those who are unemployed due to their circumstances and will help build their self confidence and to re build their career.