The Negative Impact of Unemployment
Individuals who are unemployed are often more susceptible to several challenges, including difficulty in finding future employment as well as decreased income. Unemployment also impacts society and the economy as a whole. The longer a person is out of work, the more likely they are to suffer negative consequences; and also contribute to the multiplier effect that unemployment has on the community. I recall going through a terrible emotional, psychological, as well as physical trauma a few years after graduating without a job. In this article, I will use my experience to educate you on the negative effects of unemployment on an individual; society, and the economy, as well as my success story.
Effects of unemployment on an individual
An unemployed person is vulnerable to a variety of difficulties. The following are some of the most common disadvantages of being unemployed:
Reduced income
As an unemployed person, you will have a lower income as a result of not having a job. People who are unemployed and have no other source of income frequently rely on their savings or borrowed funds to cover essential expenses. Individuals who are the primary caregivers in the family; on the other hand, face additional challenges because they must meet the needs of other family members.
Health problems
Unemployment can also have a negative impact on one’s physical health. Because being unemployed is a highly stressful situation, it may result in stress-related problems such as headaches, high blood pressure, insomnia, and so on. Because many people rely on their jobs to provide health insurance, when they are unemployed, they are unlikely to have access to good health care.
Mental health challenges
Unemployment raises a person’s risk of developing depressive symptoms. Anxiety is another mental health issue that many unemployed people face. Unemployed people frequently have poorer mental health than employed people.
Effects of unemployment on society
Unemployment has an impact on the community and society in which the unemployed person lives. While one unemployed person usually has little impact on society, high unemployment rates in certain areas frequently lead to higher poverty rates.
Communities with high unemployment rates are more likely to have limited employment opportunities, poor housing, fewer available recreational activities, and also limited access to public services and underfunded schools.
Effects of unemployment on the economy
Unemployment has a direct impact on the economy as a whole, in addition to its effects on the individual and societal levels. When people are unemployed, they spend less money, resulting in a lower contribution to the economy in terms of services and goods sold and produced.
Unemployed people have less purchasing power, which can cause other people who make products that these people buy to lose their jobs as well.
My Success Story
After graduating from high school; I assumed that finding a good job would be easy, especially since I had good grades. However, my years-long efforts to find a good job were futile.
Several of my friends were getting jobs, but I wasn’t, despite having better grades than many of them. I began to wonder if a white-collar job wasn’t for me at some point.
After several interviews with various companies; I was on the verge of abandoning white-collar jobs in favor of a menial job when I received yet another interview offer. I was discouraged after receiving negative feedback; but I decided to summon courage and call HR to find out why I hadn’t been accepted despite my qualifications and professional appearance. He responded in a way that changed my life.
Although you have got an impressive academic result and you look smart, getting employed goes beyond all of that. These days we are more concerned about practical soft skills an individual can offer to enhance the work. Wow!!!! What an eye opener; that was how I upskilled myself with the necessary employability skills and today I am gainfully employed.
If you are in a job seeking situation, do not give up. Hone your skills for improved workplace productivity and career success and thank me later.
For Employability Skills Training:
For this and much more Information relating to employability skills, employment opportunities, career advancement, and entrepreneurship development; Join our Telegram and WhatsApp groups, and also follow us on Instagram, Twitter and Facebook
