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There are lot many theories regarding the reasons behind the unemployment. But the real fact is that the person who is unemployed needs some sorts of economic help. In the great depression time in 1935, lot many people lost their jobs for no fault of their own. The government had to do something for them. There can be business downturns due to lot many reasons. But the effect of these business downturns is the unemployment for the ordinary workers. The idea of unemployment insurance was started in 1935 in those great depression days. If millions of people loose their jobs, then they will not be able to buy the goods and services necessary for their living. This in turn means that the business community will lose a major business. This was not good for the businesses also. In turn the whole economy will go on getting worst. It was necessary to provide some sorts of economic benefits to the unemployed so that they can buy the necessary goods and services and in turn can boost the business demand and their by give boost to the economy as a whole. It is obvious that these unemployment insurance schemes provide benefits for |
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