Effects of Unemployment


Unemployment is a phenomenon when a person is available for work but is not able to get it. The level of unemployment is known as unemployment rate which is a major criterion to check a country's growth rate and macroeconomics. Causes of unemployment always have been controversial and have been debated by many financial experts. Unemployment and its causes change with the location as well.

Unemployment level has an effect on the people who are employed as well. The employed sector feet insecure which may affect their productivity. Unemployment impacts the society as this creates divisions, which historically leads to the concept of 'unequal opportunities' seen more in underdeveloped and developing countries.

Unemployment affects a person psychologically which can have many short term and long term problems. Some psychological effects of unemployment are discussed below.

Lack of Self Esteem and Confidence: — Money and success make you confident and a job is a synonym for these and a way to get these factors. When a person gets unemployed, his confidence reduces which leads to lack of interest.

Stress: — It is a major factor and a certain after-effect of unemployment. The problem with stress is that it is directly proportional to the time of unemployment.

Loss of Enthusiasm and Willpower Issues: — "If you want to kill a man, take away his enthusiasm," goes a famous saying and this is what happens as a result of loss of employment. Enthusiasm and willpower are closely related as well.

Ill-Health: — Stress is known to have physical effects on a human body and many unemployed individuals are known not to care for their health in this period which leads to a degree of health.

Harsh Effects and Suicidal Tendencies: — There is a considerable proof that suicidal tendencies are seen more in unemployed people. This may be due to the combined effects of the above factors.

Unemployment is a phase of life which can be taken positively to reinvent ourselves. There are certain steps which would help an unemployed person. Some steps which would help a person to stay unaffected by the stress induced by unemployment are as follows.

Stay calm and composed
Try streamlining and making a schedule
Check for new horizons
Join different online job sites and consultancies
Talk with your spouse and friends
Learn new things about your field
Have faith in your abilities

Make sure you do not stop living like you did earlier when you had a job. Life moves on and we need to keep learning from it.

Simon Waker Haughton