Measures to Overcome Unemployment Problem among Graduates
A mind map about the measures to overcome unemployment problem among graduates.
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Measures to Overcome Unemployment Problem among graduates
1. Creation of job opportunities through entrepreneurships programs
Entrepreneur serves a significant role in providing employment opportunities. There are two important problems where the development strategy of our country confronts which are unemployment and poverty of the masses. Therefore, entrepreneurship programs can encourage participants to become entrepreneurs. By activating the latent human potentials through entrepreneurship, the previously stated problems can be effectively minimized. With entrepreneurship programs, there will also be the creation of self-employment avenues for large number of people. An example of entrepreneurship program is Federal Agricultural Marketing Authority where it will provide entrepreneurs with skills and knowledge to increase their professionalism in marketing.
2. Education and training programs to provide students with relevant skills
Since most employers seek candidates who are educated, it is crucial to ensure that students possess the knowledge necessary to carry our their job duties effectively. Thus, education and training programs should be carried out to the students in order to provide them with necessary knowledge and skills for work. For example, universities in Malaysia should focus on providing students with relevant skills and knowledge rather than just learning theories. Not only that, they should emphasize more on creative and critical thinking skills for students where they will need to think outside the box to solve tasks instead of solving it by the book.
3. Attracting Foreign Direct Investment
When an individual or business possesses 10% or more of a foreign company, Foreign Direct Investment (FDI) happens. Through (FDI), more domestic jobs can be created while also intensifying economic growth. Moreover, FDI can enhance the productivity of human capital and also pursue modernization.
4. Through government policies
The government can overcome unemployment problems among graduates through Fiscal policy. Through Fiscal Policy, aggregate demand can be increased along with the rate of economic growth. Therefore the government will have to pursue expansionary fiscal policy which involves cutting taxes and increasing government spending. Disposable income increases because of lower taxes which will help to increase consumption. This will lead to higher aggregate demand (AD).