Not only adults even, but teenagers or students also do a job to cover their expenses, to afford the things that parents don’t or can’t provide. As for adults, they do jobs for different reasons. They need a position to provide for the family, to become self-independent. However, getting a job isn’t easy. You have to fulfil the job requirements. And job vacancy depends on the economy of the country to some extent.
Five Countries with the Highest Employment Rate
In this current situation, many people lost their jobs as the economy of every country has fallen. For cost-cutting, companies are cutting off employees or reducing their salary partially. However, all these things are temporary, but most people can’t cope with this situation. However, you should be aware of some fully employed countries.
- Iceland- The employment rate is 83.8%
- Switzerland- Estimation found out that the employment of the country is 80.5%
- The Netherlands- The employment rate is roughly 78.2%
- Japan- The country has an employment rate of 77.6%
- New Zealand- Studies found that the country’s employment rate is around 77.4%.
Advantages of Full Employment
The term “fully employment” means there will be no deficient-demand unemployment. To be more transparent, it doesn’t mean there will be zero employment because other types of unemployment might remain at some point. There are many advantages of residing in any of the countries mentioned earlier.
- Firstly you won’t have to struggle a lot. You can pay bills quickly, and you can live a comfortable life and provide for your family if required. When you have a job, you will feel relaxed as your stress level will be less.
- Entirely employment is beneficial for the economy of a country as well. It will boost up the potential output in the economy of the country. As a result, the government can be able to achieve sizeable economic growth along with productive efficiency.
- Full employment reduces poverty; thus, more families will be able to send their children to good schools or universities. So more children will get a brighter future. As poverty will be less, more people can treat themselves to a better hospital if required.
- When a country has a good economy, the country becomes more developed because the government will receive tax from many people, so the government will have money to build good schools, hospitals, better roads etc. So thus, living in such a country is comfortable as well as suitable for a better future.
- Even full employment is advantageous to the business because when a country’s economy is in a good state, it can improve its budget position. So this consumer confidence will rise, which results in higher growth in the long term.
Wanting a comfortable, happy life isn’t a crime. However, certain situations make it hard for us. Living in an entire employment country is quite helpful. However, there are some opposing sides to it. For example, The complete employment economic cycle can bust, so the growth can sometimes become unsustainable. Even it can cause labour shortages.