UnemploymentThe impacts of unemployment on people that are financial, social and emotional.

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rrteacher eNotes educator| Certified Educator

Financially, unemployment leads to a decline in income that can lead, even with government assistance, to dire consequences, like bankruptcy. Socially, it is an unfortunate fact of life that many people blame problems like unemployment on the unemployed themselves, and it can affect friendships and one's standing in the community. Emotionally, many people base their sense of self-worth on their ability to provide for their families, and when they can't to that, it can lead to depression and other psychological problems.

pohnpei397 eNotes educator| Certified Educator

Times of high unemployment tend to see decreases in the number of people getting married and the number of children born to marriages.  This is a social impact of unemployment that comes about because people no longer feel confident enough to marry and to bring children into the world.

litteacher8 eNotes educator| Certified Educator
The emotional impact of unemployment is significant. Unemployment can lead to depression and low self-esteem. So much of our identity depends on financial livelihood, and our jobs. Take both away, and you have a recipe for disaster. Even in a terrible economy, people blame themselves.
Lorraine Caplan eNotes educator| Certified Educator

I believe that the divorce rate goes down in times of high unemployment because people cannot afford to leave one another.   This is likely to lead to higher rates of domestic abuse, as well as emotional difficulties for everyone in the family.

e-martin eNotes educator| Certified Educator

Studies have shown that depression increases with increased poverty. The old phrase says that money cannot buy happiness, but people studying poverty have found that a lack of money can go a long way to ensuring that you are not happy.

shirleychen16 | Student

Financially, unemployment leads to a decline in income that can lead, even with government assistance, to dire consequences, like bankruptcy. Socially, it is an unfortunate fact of life that many people blame problems like unemployment on the unemployed themselves, and it can affect friendships and one's standing in the community. Emotionally, many people base their sense of self-worth on their ability to provide for their families, and when they can't to that, it can lead to depression and other psychological problems.

We can also add that relationships between spouses may deteriorate when they cannot provide for the family. People will also cut down on expenses, and that could also lead to decrease in manufacturing and production, causing another gloabal recession.