What are the impacts of 'no jobs' and 'raging inflation' on the economy as mentioned by Chidambaram
Economy in slowdown; people reeling under 'no jobs, raging inflation': Senior Congress leader Chidambaram
- Unemployment: A lack of jobs leads to widespread unemployment, causing individuals and families to struggle financially.
- Reduced consumer spending: With no jobs, individuals have less disposable income to spend on goods and services, affecting businesses and the overall economy.
- Inflation: Raging inflation erodes the purchasing power of consumers, making everyday essentials more expensive and further straining household budgets.
- Social unrest: High unemployment and inflation rates can lead to social unrest and dissatisfaction among the population, impacting political stability.
- Economic slowdown: The combination of no jobs and inflation can contribute to an economic slowdown, affecting growth and development.
Answered
3 months ago