The Causes And Effects Of Unemployment

Unemployment

Losing your job can be one of the worst things that could happen to you. A lot of things start to go through your head and you begin to ask yourself several different questions. How will you pay your bills? How will you provide for your family? These are just a few that will immediately begin to weigh on your mind. Although your source of income has been taken, there is one thing that can help keep you stay afloat during these rough times. Unemployment will give you some source of income to assist you. What is unemployment? How much do you get and for how long? These are some of the questions that I will answer. Unemployment, what is it? Unemployment is defined by the Bureau of Labor Statistics as people who do not have a job, have actively looked-for work in the past four weeks, and are currently available for work. Also, people who were temporarily laid off and were waiting to be called back to that job are included in the unemployment statistics. Unemployment is an important statistic used by the government to gauge the health

“The social costs of unemployment are difficult to calculate, but no less real. When unemployment becomes a pervasive problem, there are often increased calls for protectionism and severe restrictions on immigration. Protectionism can not only lead to destructive tit-for-tat retaliation among countries, but reductions in trade harm the economic well-being of all trading partners. Other social costs include how people interact with each other. Studies have shown that times of elevated unemployment often correlate both with less volunteerism and higher crime. Elevated crime makes sense because absent a wage-paying job people may turn to crime to meet their economic needs or simply to alleviate boredom. The volunteerism decline does not have an obvious explanation, but could perhaps be tied to the negative psychological impacts of being jobless or perhaps even resentment at