
Fortune News | Sep 09,2024
Nov 2 , 2024
By Eden Sahle
A few years ago, I met a couple deeply in love. The woman was multilingual, holding a post-graduate degree from the United States, while the man had completed his bachelor’s at a state university in Ethiopia.
They were eager to start a life together. But life did not turn out as they or anyone anticipated. The woman, who had returned to Ethiopia hoping to put her skills to use, failed to secure any job for three years. The man, also unable to find stable employment, started taking whatever work he could find on construction sites—jobs that usually lacked fair pay and safe conditions.
Three years later, the couple's commitment to each other remains unshaken, though their economic frustrations have mounted. Despite their qualifications, they are painfully aware that they cannot support themselves or afford a life together. Their dreams of a future built on shared aspirations and hard work feel further away than ever.
When I met them again recently, they seemed to have fallen into a state of depression and hopelessness. The joy that used to light up their faces when they spoke about their future together was gone. I was heartbroken to see them caught in the anguish of not earning a livable income to start a life together.
Even after years of education and sacrifice, many adults find themselves unable to afford independence. This couple is not alone; unemployment, economic hardship, and a lack of opportunities are forcing many into a reluctant dependency on their families, usually well into adulthood.
Today, financial strain means that many adults, even married couples with children, are living with their parents. More often than not, these parents bear the weight of supporting not only their children but also their grandchildren. The situation can be so dire that grandparents who had hoped to retire are returning to work to support their families.
This is more than a personal hardship. It is an economic and social crisis affecting individuals, communities, and the country at large. Unemployment and underemployment bring chronic stress, anxiety, and depression, with far-reaching impacts on social stability, mental health, and even family dynamics. Psychologists note that the financial and social pressures of prolonged joblessness strip individuals of motivation and self-worth, often isolating them from social networks and fueling conflicts within households.
Long-term unemployment can also lead to skill degradation, making it difficult for individuals to re-enter the workforce, especially in fast-evolving fields like technology and medicine. When employment is not accessible, people can sometimes resort to illegal means just to survive—a risk that increases when there is no welfare safety net.
Beyond individual struggles, unemployment weakens the economy as a whole. Financial hardship reduces consumer spending, slows down businesses, and impedes economic growth. Economists note that countries with high unemployment often face prolonged stagnation, as reduced purchasing power stalls production and demand.
Addressing Ethiopia’s unemployment crisis, however, is complex. With a rapidly growing population and limited industrialisation, the solution will require a multifaceted approach that includes job creation, skill development, and robust support for small businesses. Building social safety nets could provide unemployed individuals with temporary financial assistance, giving them a lifeline as they search for jobs.
Integrating entrepreneurship into school curriculums could foster a generation of job creators. Investment in food processing and packaging industries would add value to Ethiopia’s agricultural products, creating jobs across different education levels. Accessible loans and business mentorship could nurture new employers, and accelerating infrastructure projects in roads, railways, and energy could directly create jobs while making Ethiopia more attractive to investors.
Embracing e-commerce and remote work would open Ethiopia to global markets, creating employment opportunities without heavy infrastructure demands. Establishing special economic zones with attractive tax policies could draw multinational corporations, while a stable political environment would only enhance Ethiopia’s appeal to foreign investors.
Building a country where dreams come true with plentiful opportunities demands persistent and inclusive economic growth. It requires not only government action but the collective will of society.
PUBLISHED ON
Nov 02,2024 [ VOL
25 , NO
1279]
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