ECONOMIC EFFECT OF UNEMPLOYMENT IN THE NIGERIA ECONOMY (A STUDY OF ENUGU STATE). A RESEARCH PROJECT MATERIAL ON ECONOMICS
ABSTRACT
Going through the present investigation of problem & prospects of management of unemployment in Nigeria, many finding and results were made in the service and finance oriented organization.
The result postulated that prospects of management of unemployment in the Nigerian patterns in the organization which in our act as a motivational factors to high productivity increasing work performance to achieve organization goals and objectives.
On the other hand problem associated with prospects of management of unemployment adopted in every organization will identify any motivational problem inherited in that organization. It will further be having big problem which thus intends negative.
However effective prospects of management of unemployment is vital in every situation in the organization.
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
According to the advanced learner dictionary, Unemployment is defined as the amount of Labour unused. When a factor of production is not doing any job we say it is unemployed. In this project we are concentrating mainly on the Economic effect of unemployment in Nigeria Economy. In particular Emphasis on Labour which is the most important and active factor of production which simple means, that without Labour all other factors will not be put into practice.
Then all other factors are regarded as passive factors of production.
Unemployment is a very dangerous phenomenon to an Industrialized economic system. Further primitive communities in
Nigeria was usually self-sufficient and no unemployment problem, through their standard of living is a very low living. They share the work that had to be done and any spare time easy enjoyed as leisure. There is still little unemployment in Nigeria engaged in the production of primary product though these communities may suffer a general reduction in their product, fall in the world market. We often advocate for Industrialization as a penance to unemployment problem but in as much as that is true it is also very important to know that this Industrialization Coupled with the division of labor and specialization bring along with them this virus problem called unemployment to Industrial progress, how wonder it was the leading Industrialized nation that were the first to introduce scheme of social security.