Question

what is the impact of unemployment

Answer 1

The most obvious impact of unemployment is that it hurts the economy. People who are unemployed have less money to spend. They are able to buy fewer goods and services, thus making businesses less profitable. This can lead, in turn, to even more unemployment. High unemployment, then, has very negative economic impacts.

Answer 2

Impact of unemployment:-

1. Unemployment leads to wastage of manpower resources.
2. People who are an asset for the economy turn into a liability.
3. There is a feeling of hopelessness and despair among the youth.
4. People do not have enough money to support their family. Inability of educated people who are willin to work, to find gainful employment, implies a great social waste.
5. Unemployment tends to increase the economic overload.
6. When a family has to live on bare subsistence levels, there is a general decline in its health status and a rising withdrawal from the school system.