Question

what are the effects of unemployment
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Answer 1

Answer:

The longer the unemployment goes on, the more severe the health consequences, with increased depression and other health issues worsening over time. In addition to the obvious loss of income, unemployed workers were found to have lost friends and self-respect.

Unemployment affects the unemployed individual and his family, not only with respect to income, but also with respect to health and mortality. Moreover, the effects linger for decades. The effects of unemployment on the economy are equally severe; a 1 percent increase in unemployment reduces the GDP by 2 percent. The criminal consequences of unemployment are mixed; in some circumstances, property-crime rates increase significantly; in other circumstances, there seems to be no effect.

Writing in The New York Times on "The Enduring Consequences of Unemployment," economist Binyamin Applebaum explains that the consequences for an unemployed individual are both grave and long-lasting. For example, workers who became unemployed in the severe early 1980s recession were making about 20 percent less than average 20 years later. It's also bad for your health. A 2009 Pennsylvania study found that unemployed workers died more than a year earlier than average.

Answer 2

Answer:

The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health .

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