Not just in the developing world, unemployment is severe even in the developed world. For example, unemployment in India (a developing country) is 7.9 percent, whereas in the United States (the developed country) it is 5.5 percent. There are many reasons for unemployment, but the most common reason is lack of knowledge and skills.

Is it easy to get a job if you are a graduate?

The rate of unemployment is very high in many countries. Unemployment is high even among university graduates.

A lot of people go through the hardship of college and university life just because they can get a higher qualification and become eligible for the job market. Sadly, this does not happen. A lot of university graduates remain jobless.

Education is important to gain knowledge, however, why is not education helping these people to get a job?

Most of the graduates believe that once they have a degree they will easily get a job. This is simply not true.  It is true that you need the education to apply for a high-paying job but just because you have certificates of master’s program does not mean you are recruited by a company. Education is one of the requirements for a job, but you also need vocational skills.

Why Educated People Are Unemployed?

If unemployment was high among the semi-educated people, you would have rationalized that these people are not employed because they are not educated and do not have high educational qualifications. However, educated people are also unemployed. One of the reasons why educated people are unemployed is because they do not want to do menial jobs because it's “degrading” for the qualification they have.

Another reason for graduates being unemployed is they have theoretical knowledge because of education yet they do not have practical knowledge because they are not trained for skill development.

You are a Management graduate, do you think you can get a job in a bank? I don’t think so. You also need skills related to the operation of banking software, you also need to pass the competitive exams.

Education helps you to build knowledge. But you also need to undergo training to develop professional skills.

Why Governments Need to Create Businesses to Curb Unemployment

Unemployment is a major problem everywhere. In the United States, the current unemployment rate is 5.5 percent, whereas in India it is 7.9 percent. The world’s highest unemployment rate is in Burkina Faso (77 percent), Syria (50 percent), and Senegal (48 percent). The data is provided by statista.com

In the countries where there is a low unemployment rate, the government may not be required to do anything as unemployment is mostly related to immigration; however, in the countries where unemployment is very high, governments need to create work opportunities to curb unemployment, for example, the government might launch a business and the business will create a lot of job opportunities. Governments can establish industry to create work opportunities for their citizens.

There are two benefits of creating businesses and industries, they will boost the economy, two the citizens will be employed.

Are You Unemployed? Try Working Online and Build Your Online Career?

If there is a lack of jobs and if you cannot find a job despite having education and skills, you might have to think differently and try to become self-employed.

Even though a lot of people were already earning online prior to Covid Pandemic, Covid-19 changed the whole concept of working. When a lot of companies and businesses asked their employees to work from home, it was found that a lot of jobs do not actually require you to go to the workplace.

A lot of people are confused about working online, for them working online just means working on earning sites like PTP forums, Microjobs, and GPT sites. Well, you can earn from these sites but you cannot actually make your living from earning sites.

When you are applying to jobs in the real world, you are required to have a certain level of education and specialized skills. This also applies to the virtual world. In a real-world job, if you do not have skills and knowledge, you will never be hired. Likewise, in the virtual world, if you do not know knowledge and education, you cannot earn.

You will have to start looking for jobs on freelance marketplaces or start selling your services.

How to Become Self Employed and Grow Professionally

Whether you are in a business line or are a job holder, where you are self-employed or a freelancer, you need to grow professionally in order to excel in your field, and also make more money. So, how do you grow professionally?

What exactly is professional growth?

If you are in business, professional growth means sales are rocketing and there is a demand for your products in the market.

If you are a job holder, professional growth means you get promotions and bonuses regularly.

 If you are self-employed or a freelancer, professional growth means you get high-paying contracts, high-paying offers, etc.

What do you need for professional growth?

In order to grow professionally, you need just two things.

1.      Propensity to learn new things

2.      Ability to learn quick

You can grow professionally, also personally, as long as you have these two things.

Preparing for Self-Employment

Self employment sounds great. You have flexible working hours, you are your own boss, you have an opportunity to make more money, and you get financial freedom. However, becoming self employed is not easy. Well, you can of course start working independently but earning consistent income can be difficult. Therefore, do not start a self-employment journey without having enough money on your emergency accounts to pay bills for more than 56 months. You can generate immediate income through self-employment, but your initial earnings might not cover your bills. When you decide to become self employed, you also need to build skills in multiple disciplines as a single source of income might not be enough.

You need skills to make money, you also need skills to invest month. What about saving money, do you need some kind of skills to save money. Well, to save money, the first thing you need is to earning it. You can earn money form a job, business, or self employment and all of these need skills. Therefore, investing in yourself to learn skills is important for making money. When have skills, you can use your skill to generate income. Once you have income, you need to save, so how do you save? Do you need any special kind of skills to save money. Can anyone save money?

I worked for salary for many years before turning to self employment through freelancing and online businesses. When I received pay check ever month, I saved some percentage of my income and when I had sizeable savings, I started investing in stock market, bonds, certificate of deposits, mutual funds, and even crypto. If you are on the payroll, you will have regular income, when you have a regular income, it is not only easier to manage your finances but even save money and invest money.

Can You Build Wealth Through Employment

Any kind of employment will not help you build wealth. To build wealth, you need to invest or start your own business. Investing can be simple as you do not have to work, but it requires a lot of money or invest regularly for many years. Starting a business can help you earn a lot more money in a shorter period provided you become successful.

Not everyone can become successful with a business, not everyone can generate income through self-employment, however, job offers regular income for a lot of people and becoming successful with job also has a high chance. You can start as a low position and with your hard work, you can gradually promoted and reach top position. Since you receive salary regularly, it is also easier for you to save money and also invest money. Therefore, job is an idea way to make money for a lot of people