What is the impact of unemployment on our society?
Unemployment has many negative impacts on society. Youth unemployment is considered especially problematic as young people who lack jobs for a few years after completing their school lose out significantly on future job prospects and have significantly lower lifetime earnings than those who do get jobs within a year of completing their educations. Unemployment can also increase crime rates and substance abuse and have negative effects on both mental and physical health. The other problem is that the longer that people are unemployed, the more that their skills deteriorate and their qualifications become dated, making them chronically unemployable.