Negative Effects On Unemployment

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enormous drop in their household income. As unemployment rates increases, income, health care costs, standard of living, and poverty are considerably affected (, 2014). An economic uncertainty connected with unemployment varies from income and education levels. Unsurprisingly, uneducated African-Americans and Hispanics are more likely to become affected most by these economic insecurities. Unemployment has a more devastating effect on families with children due to all the responsivities that have for example: making house payments, buying food, transportation, health care, and child care. There is Research that has been done that shows how unemployment not only affects the adults, but their children as well. Children…show more content…
Numerous of unemployed individuals encounter problems with their health; chaos, pain, depression and, anxiety. As Christians, our Bible is the manual; we need to follow in every area of our life. Jesus told us in this life we would have troubles, but he has overcome them. This scripture lets us know that we to can overcome the issues of this life if, we follow his word. The Bible provides us with solutions and gives us comfort in dealing with all of life’s stresses. “Finally, brethren, whatever things are true, whatever things are noble, whatever things are just, whatever things are pure, whatever things are lovely, whatever things are of good report, if there is any virtue and if there is anything praiseworthy—meditate on these things,” Philippians 4:8 NLT. The financial crisis of 2008 created record levels of unemployment, as 8.3 million jobs were lost. By 2009, the unemployment rate had risen to 10.1%. Housing, which usually drives the expansion phase of the business cycle, was suppressed by a wave of foreclosures. As a result, nearly half the unemployed were out of a job for six months or more. This created structural unemployment, as their skills and experience started to become…show more content…
The effect of the unemployment on our society not only affects the person themselves, but it affects the society where an individual lives. Unemployment comes with uncertainty, doubt, unhappiness and anguish. People are suddenly force to live their lives in a way they’re not accustomed to due to the loss of income.
Finally, we see that the cost of unemployment and the effects on the economy are very detrimental to society as a whole. Unemployment affects every area of your life either directly or indirectly. Once an individual becomes unemployed it cause a down ward affect not only to the individual, but our economy as well. The loss of jobs causes the economy to go down. Once this happen people stop spending and buying, which in-turn slows down selling and buying of goods that keeps the economy for growing. Once the economy stops growing than we are in trouble for our economy and a possible repeat of the recessions, that has plague our country from the past. When consumer demand for goods and services drops, business revenues decline, and eventually companies have to lay off workers to maintain profit margins. Often there isn 't enough production to keep the workers busy. Over a period of time, the economy experiences many ups and downs this causes
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