Untitled document.edited (22).docx - Unemployment and Inflation Introduction Unemployment takes place when those people who are ready to work do not get

Untitled document.edited (22).docx - Unemployment and...

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Unemployment and Inflation Introduction Unemployment takes place when those people who are ready to work do not get the opportunity to work. On the other hand, inflation is a situation where the prices of the goods increase hence necessitating that people spend more to meet their needs. Many countries are seeking ways of reducing unemployment rates. In this attempt, they increase inflation rates. An increase or decrease in either of them affects the lives of people. Policies can, however, be used to solve the issue. It is crucial to evaluate the effects of the increase in unemployment and inflation levels in a country. Unemployment has been confirmed to affect the older members of the society who have increased financial responsibility (Argy & Nevile, 2016). It results in the inability to meet these responsibilities, such as servicing their mortgages and supporting the defendants. Due to the failure of people to save, the dependency rate increases when the older generation increases.
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