The paper "Economic Growth without Employment in Asia" is an outstanding example of a micro and macroeconomics case study. Economic growth or development is the overall rise in the level of economic activities in a given country, region, or continent. Over the recent past, the majority of the least developed countries have been realizing a lot of development in various sectors of their economy. Asian countries are just but good examples of such countries. One of the countries that have continued to register a lot of economic development is the Asian countries.
These include countries such as China, India, the Philippines, among others. Nonetheless, as these countries’ economies continue to improve, the majority of them have failed to register corresponding job creation opportunities. Conversely, this has led to an increased number of unemployment cases. Therefore, this paper intends to establish whether indeed it is feasible to have economic development while in unison creating jobs to the citizens. Economic Growth and Unemployment First, employment opportunities are wide and available within a short term period. However, the situation becomes different when it comes to the long term basis due to the nature of labour requirement within a given city or a country.
As a country develops, new sectors are created. These sectors require totally different technical manpower which may at times be lacking locally. For instance, jobs are skewed towards one sector. In most cases, economic development leads to a concentration of jobs in certain industries especially the service industries. Most of these newly created jobs are categorized are white-collar job or occupation. Conversely, the overall job increment leads to decrement in the number of job opportunities in the manufacturing sector.
As a result, the majority of the developing countries have seen a decrease in the level of blue-collar employment opportunities. As such, local workers who are in the blue-collar sector live under threat when a country is on the verge of take-off in terms of economic development. Job creation in the manufacturing industries remains negative, thus, worsening the situation. Economic development paves the way to the urbanization of a country. Therefore, more industrial land encroaches as the local authorities urbanize most of this land.
Therefore, manufacturing industries are phased out, leading to massive job loss. However, blue-collar employment opportunities can still be found in areas that are not fully developed. A sizeable population relies on blue-collar employment as compared to those who rely on the white-collar one. Therefore, economic development may lead to massive loss of job opportunities due to its interference with the industrial land. Therefore, a large population loses its employment as a result of economic development in a given country. The few employment vacancies in the white-collar sector may go to foreigner due to limited or lack of local technocrats to handle these jobs’ requirements.
It is worth noting that employment opportunities that are numerous now may continue diminishing as times goes. The local diversity in terms of employment opportunities will continue decreasing as a result of more concentration in the service industries. However, this phenomenon takes place at a gradual pace as a country becomes more economically developed. Majority of those who are affected by the economic development is the low skilled as well as those who have low levels of education.
Economic development is normally accompanied by creation level of job creation that requires a lot of technical skills in addition to an adequate education. It leads to industrialization of a country and hence in the process leading into a reduced level of competitiveness of the locals.