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A description of unemployment as a problem in our society

The Effects of Unemployment on Society and the Economy Ads By Google Unemployment means being out of job or a situation where the individual is wiling to work but has none.

How does unemployment affect the economy?

How does unemployment affect the economy?

Some of the well-known effects of unemployment on the economy are: Unemployment financial costs The government and the nation suffer. In many countries the government has to pay the unemployed some benefits. The greater the number of the unemployed or the longer they are without work the more money the government has to shell out.

Therefore, the nation not only has to deal with the lost income and decreased production but also with additional cost.

Reduced spending power of the employed Increased taxes and the insecurity about their own work may affect the spending power of the working people as well and they too may start to spend less than before thus affecting the economy and also the society in a negative manner.

Recession With the increase rates of unemployment other economy factors are significantly affected, such as: All these affect not just the economy but the entire systems and the society in general. Here are some aspects of the impact of unemployment on our society: Unemployment brings with it despair, unhappiness and anguish.

It forces people to live their lives in a way they do not wish to — The life expectancy is negatively affected.

Here are the main aspects: Mental health problems like: Law self-confidence, feeling unworthy, depression and hopelessness. With the lost income and the frustration involved in it, the recently unemployed may develop negative attitudes toward common things in life and may feel that all sense of purpose is lost.

Frequent emotions could be — low self-esteem, inadequateness and feeling dejected and hopeless. The unemployment overall tension can increase dramatically general health issues of individuals.

Quarrels and arguments at home front which may lead to tension and increased numbers of divorces etc.

  • In answer to this controversy, Lampman 1974 stated that only those persons not at work for more than a specified minimum of time and who are able and are willing to work, and also actively seeking work, are generally considered as employed;
  • In his result, he discovered that the utter neglect paid on agricultural development in a bid towards the realization of industrial economic ambition in the underdeveloped Africa is responsible for their employment problems;
  • Investigation into Nigeria sources of revenue in the 1960s and early 1970s showed that agricultural products was the chief source of income to the country;
  • Similarly, the issue of unemployment has caused hunger and malnutrition.

Loss of trust in administration and the government which may lead to political instability Tension over taxes rise: Unemployment also brings up discontent and frustration amongst the tax paying citizens. In order to meet the demands of the unemployment fund the government many a times may have to increase the taxes thus giving way to restlessness amongst the tax paying citizens. The prevailing unemployment and the plight of the unemployed people and their families may create fear and insecurity even in the currently employed people.

Increase in the rate of crime. Increase in the rate of suicide attempts and actual suicides as well.

Causes And Effects Of Unemployment On Society

Unemployment may bring a decrease in social outings and interactions with other people, including friends. It also brings with it the disgrace that the person has to bear. Nobody likes to be termed as unemployed. In times of unemployment the competition for jobs and the negotiation power of the individual decreases and thus also the living standard of people with the salaries packages and income reduced. To further complicate the situation the longer the individual is out of job the more difficult it becomes to find one.

Employers find employment gasps as a negative aspect.