Most valuable resource is people

ECONOMIC growth or GDP expansions are not an end in itself.
It is a means to achieve certain ends and the ends are: poverty reduction, reduction in unemployment and inequality, reduction in unemployment and inequality.
Human resources are seen as the most important economic resource.
The reason being that, human beings are: durable and renewable resources.
Quality of human material is the ultimate determinant of economic success or failure of nations.
Without humans man-made resources will not be produced and other natural resources will remain idle.
People are seen as factors of production, and, therefore, must be utilised as much as possible in anyway to enhance productions levels in the economy.
The under-utilisation of this resource brings about unemployment and therefore declining levels of GDP. Since the level of population supports the level of GDP, it has a direct effect on level of GDP.
When a large proportion of a country’s population is unemployed, GDP level becomes relatively less as compared to a smaller proportion being unemployed. Unemployment is a state of joblessness that can cause social problems such as law and order, rural-urban drift, growth of urban slums/squatter settlements, urban crime, poverty, malnutrition, ill health, low level of education etc.
This is because people need to be employed to earn income and support themselves to meet basic needs.
Besides social problems, unemployment can also cause economic problems.
The reasons stand from the fact that the level of employment influences the level of demand (aggregate demand).
If employment level increases, more people will earn income, which will then increase their level of demand on goods and services on the aggregate.
The increase in demand then fosters increases in supply. That is, increases in demand must be met by increases in supply to meet and clear market conditions.
To increase supply, production levels must then be increased which means increases in the level of GDP.
The level of unemployment of labour can be measured when the size of the labour force is known.
The size of the labour force can be measured from many fronts, as to how much labour should be included in the labour force depends on how countries define the extent of it.

Seth Rake, Via email