<center><img src="https://cdn.pixabay.com/photo/2012/03/01/01/01/bad-19907_960_720.jpg"/><br/><em><sup><a href="https://pixabay.com/photo-19907/">Economics & Unemployment - Pixabay (CC0)</a></sup></em></center></div>

<div class="text-justify">The most important developments over the past few years have been a considerable increase in the use of part-timers, a higher tendency for organizations to subcontract work and to outsource services, and a greater requirement for specialists (knowledge workers) and professionals in organizations. Telecommunication has increased the ability to Telework (working at home with a computer terminal link to the firm) and call center jobs have become very wide spread. At the moment, nearly half of the world’s work force is involved in flexible arrangements such as temporary contracts, self-employment and part-time jobs. </div> 

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<div class="text-justify">Under the pressures to be competitive and to reduce overhead costs, organizations are not only ‘downsizing’ but are also engaging people on short-term contracts, making no pretense that they are there to provide careers. They want specific contributions to achieving organizational goals now and, so far as talent management is concerned, they’ll rather let the future take care of itself, believing that they can acquire or purchase the talent required whenever necessary. This may be short-sighted, but it is the way many businesses now operate. </div>

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<div class="text-justify">When preparing and implementing human resource plans, HR practitioners need to be aware of these factors and trends within the context of their internal and external environments. A further factor that affects the way in which the labor market operates, and therefore human resource planning decisions, is unemployment. High levels of unemployment are a general phenomenon all around the world. As it exists in Africa, so does it exist all around the world. This however, is no consolation. Economists seem unable to agree on the causes of or cures for unemployment. The classical view was that unemployment was voluntary and could be nullified by natural market forces. </div> 

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<div class="text-justify">The Neoclassical theory is that there is a natural rate of unemployment which reflects the rate of technology, individual preferences and endowments. With the prevalence of flexible wages in the current competitive labor market, any unemployment that remains is voluntary. There is of course no simple explanation of unemployment and no simple solution. All that appears to be certain is that unemployment will continue at a high level, especially if the main focus of economic policies are to reduce the rate of inflation. Skill acquisition and development, personal initiative and ability to bring true value to the market place is the youths’ only chance of securing market relevance and creating employment for self and others in this complex and competitive market space.</div>

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<center>**Cheers and thanks for reading!**</center>