Question

what are three consequence of unemployment

Answer 1

Unemployment is a critical civic and economic problem...

The repercussions are as follows...

1. Research has suggested that people who can't find work, basically people who are unemployed suffer from depression and other health issues as they are burdened by financial amounts. If they aren't employed soon, their daily expenses eventually drain their savings. 

2. If umemployment occurs at a large rate, the economy of a country is severly affected beacuse consumers will cut down their expenditure on goods and services, which results in a decline in the GDP.

3. An unemployed worker would not lead a luxurious life and so the quality of life will be decreased.

4. Suppose a college graduate enters the job market when the economy is down, then they might have to take any job that probably doesn't even meet their educational qualifications and might also have to accept a low pay.

Answer 2

1. Loss of income : unemployment normally results in loss of income the majority of the employed experience not efficient employment there jobs discourage worker

2.Negative multiplier effect : The closure of a local factory with the loss of hundreds of jobs can have a large multiplayer effect on both the local and regional economy.

3.Fiscal costs: The government losses and because of a fall tax revenues and higher spending on welfare payments for families with people out of work the results can an increasing on the budget deficit.