No abstract

1. Introduction Every business organization needs factors of production to be able to survive and make meaningful impact in its area of operation. Factors such as land, labour, capital and entrepreneurship are factors known to influence production so far as businesses are concerned. Notwithstanding the above traditional factors of production, there are equally some factors like time, government policies, technical know-how, inflationary periods and exchange rates that can positively or negative affect the production levels of a business organisation. 1.1. Literature Review Unemployment (or Joblessness) occurs when people are without work and are seeking for work (Romer 2011). For Keynes (2016) a person is unemployed if the person is (a) not working (b) currently not having available work and (c) seeking work. According to ILO report. (2010) over 197 million people globally or 6% of the world's workforce were without jobs in 2012. Essia et al (2012) said that over 74.2 million youth were unemployed in 2012. Unemployment may have expression in the following ways namely functional unemployment, which occurs as a result of the time people take to move between jobs, structured unemployment which occurs due to mismatch of skills in labour market and classical or real major unemployment; which is prevalent in a competitive labour market when labour is pushed above the equilibrium. There is also voluntary unemployment where people choose to remain unemployed and finally demand deficiency or cyclical unemployment which occurs when the economy is below full capacity For example in recession