write a short note on the impact of unemployment
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The economy suffers as unemployment rates increase. As more people become unemployed and apply for federal or state assistance, governmental strain continues to grow, which increases government borrowing. People who are unemployed also spend less, which impacts local businesses by reducing within, which can lead to violence and other types of criminal behavior. Children are also impacted by a parent’s job loss as they may also go without daily needs, such as food and clothing. Children begin suffering from stress and depression due to the lack of essentials as well. Poverty stricken children are more likely to suffer academically and engage in risky behaviors. their revenue. As businesses lose income, they face inability to maintain operating costs. Important resources start to decline; people who are unable to locate adequate employment begin suffering since they are unable to afford foods, medical care and other basic items. This impacts families greatly by creating high levels of stress and depression. When people experience these issues, it can create tensions
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Impact of Unemployment:
- Unemployment is a bane.
- An unemployed person can go into depression and severe anxiety. He might always remain unhappy because he is unable to grab a job to earn his livelihood.
- He won’t be able to support his family members. He will not be in a position to go shopping even if he has a desire for it.
- Unemployment leads to poverty as there is no source of income. Tension can lead to stress and strain in an individual.
- People who are unemployed also spend less, which impacts local businesses by reducing within, which can lead to violence and other types of criminal behavior.
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