Unemployment is a real concern in all areas of the world. According to the Bureau of Labor Statistics, as of February 2018, there are 6.7 million individuals in the United States who are unemployed. Some of these people might not want to work, but many wish they had a job. The negative effects of unemployment on society outweigh the positive effects.
TL;DR (Too Long; Didn't Read)
Unemployment hurts the economy. The more people who are unemployed, means less money is spent. The effects of employment can be economic but they can also been seen in areas like crime.
Positive Effects of Unemployment
The only positive effects of unemployment are individual effects.
Avoiding Morning Commute: Many people despise rush hour traffic on their commute to work. Being unemployed means no more getting up early to deal with heavy traffic.
More Time With Family and Friends: This is a strong positive effect of unemployment for an individual. They can spend time with their children, family and friends. Without a job, there is more time to participate in family or school events.
Negative Effects of Unemployment
The negative effects far outweigh the positive effects when it comes to the impact unemployment has on society and the individual as well.
Not Enough Money: This is one of the adverse effects on the individual. Everything in the world costs money. If there is no source of income, you're going to have to settle and go without. If an unemployed individual has a family, it's difficult. Sure, there are unemployment benefits, but they aren't going to pay for extra things to do with your family and travel to new places.
Health Issues: This is another individual negative effect, but an important one. Being unemployed can lead to depression, low self-esteem, anxiety and other mental health issues, especially if an individual truly wants a job but can't find employment. Tension can occur, causing stress and strain on the body.
Economic Issues: During unemployment, there is no income, which leads to poverty. The burden of debt will increase, leading to economic problems. When there is unemployment, the state and the federal governments have to step in and pay unemployment benefits. By needing to pay more of these benefits, the government must borrow money to pay the benefits or reduce spending in other areas.
Social Issues: Many crimes are committed by individuals who are unemployed and living in poverty. When unemployment rates increase, crime rates tend to rise. According to the study in the Journal of Quantitative Criminology in 2016, individuals who are unemployed for socially unacceptable reasons and don't wish to seek out job opportunities are more likely to engage in burglary or robbery.
Heather Burdo has been personally involved in business for six years. Her passion is to help small business owners and entrepreneurs through engaging and insightful content.