What will happen if there is no additional employment generated in the economy even though economy is able to produce goods and services in the economy? How will jobless growth happen?
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A jobless growth happens when production takes place using capital intensive methods. Such a jobless growth is dangerous for the economy.
- Unless employment is generated in the economy, poverty can't be eradicated.
- Without employment, people will not have an income. Without an income, who will buy the goods and services? It will lead to depression in the economy.
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