Question

what are the consequences of unemployment?

Answer 1

The impact of unemployment can be long-lasting. As unemployment becomes more long-term, its impact becomes more far reaching, often affecting living standards in retirement. The loss of income by the parents can damage the prospects of the next generation.

Answer 2

Heya

Here is your answer

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i) Unemployment leads to wastage of manpower resource. People who are an  asset for the economy turn into a liability.

ii) There is a feeling of hopelessness and despair among the youth. People do  not have enough money to support their family.

iii) Inability of educated people who are willing to work to find gainful  employment implies a great social waste.

iv) Unemployment tends to increase economic overload. The dependence of the  unemployed on the working population increases. The quality of life of an  individual as well as of society is adversely affected.

v) When a family has to live on a bare subsistence level there is a general  decline in its health status and rising withdrawal from the school system.  Hence, unemployment has detrimental impact on the overall growth of an  economy.

vi) Increase in unemployment is an indicator of a depressed economy. It also  wastes the resource, which could have been gainfully employed. If people  cannot be used as a resource, they naturally appear as a liability to the  economy.  

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