Today there is a huge number of unemployment rate among university graduates. Because of strong competition and technological advancements, most of them are struggling to find a suitable job in their own speciality. I will try to adress this issue in the following essay.
On the one hand, in today’s fast-pased world, things are evolving in every second. For example, in recent years, the number of universities increased significantly. Therefore, people have more access to education compared to past. Actually, this development is considered as a positive one, because it enhances human capital which can really add value to economic well-being of a country. However, it leads strong competiton in a workplace among graduates. Furthermore, industrialization is becoming widely known in every part of the world. As a result of this, demand for labor force is decreasing due to efficiency of sophisticated tools.
In order to tackle this problem, many researchers have already gave different types of solutions. For instance, governments are able to create an immediate effect by reducing the working hours. Doing this can affect not only on a labor supply, but also on quality of life. In fact, today everyone spends the high proportion of their time at a working place, that is why this approach helps them to spend longer hours with their family. Moreover, flexible working hours can rise demand for labor.
In conclusion, I firmly believe that it would bring a number of positive outcomes if government authorities introduced flexible and reduced working hours.