KEY WORD: Online jobs
META DESCRIPTION: Online jobs are beginning to dominate today’s labour market. This article seeks to give a picture of effects of online jobs on a country’s economy.
The effects of online jobs on the economy
Innovation: Individuals get the chance to be innovative when working online. This is because they are given space to do what suits them best. This leads to thinking outside the box and coming up with ideas to deal with different situations. Innovation leads to growth of an economy due to availability of a pool of ideas to deal with different economic problems.
Reduced unemployment rates: Online jobs have created employment opportunities for individuals and this has greatly influenced the reduction of the unemployed individuals. With this the poverty rate has also reduced.
Increased revenue to the government. This has occurred due to an increase in the purchasing power of citizens. Increased purchasing power leads to a higher demand and supply of products on the market which leads to increased revenue. This greatly boosts the economy.
Increased economic development. With a boost in revenue, the government will be able to fund its social economic projects in health, security and education. This will ensure economic development is smooth.
Reduced “crowding” on the labour market. Over the last couple of years there has been a lot of crowding on the labour market where skills are available but there is limited demand. Online jobs have ensured this crowding is reduced by having some of the skills utilized and this has greatly influenced the reduction of crowding on the labour market.
Lower benefits spending. Online jobs have created employment opportunities for citizens and this has reduced the government’s expenditure on benefits. This ensures that the savings are used to undertake other important functions.
Increased G.D.P. Online jobs ensure an increase in the Gross Domestic Product of a country and this signifies economic growth.
Reduced social problems. Creating employment opportunities has reduced the idleness in youth and this has had a great influence on the reduction of social problems like drug abuse and robbery.
Increased demand and pressure on the labour market. Some skills have been utilized by online employers and this has created a lot of pressure and competition on the labour market to be able to aquire the skills since supply of this skills has reduced.
Increased purchasing power has its own negative effects like increased inflation rates. Increased inflation rates reduces the value of currency in a country.
Reduced number of individuals with technical skills. Online jobs have led to a rush to aquire knowledge in communication technology and networking living behind technical skills like plumbing, welding and even basic engineering.
KEY WORD: Online jobs