Unemployment Results and Types

Dealing with unemployment is a challenging situation to handle. Especially when you are a family person, the first thing that comes to mind when being laid off for example is what will happen to your family, especially the children. You will be bombarded with a sea of thoughts as to how you can come up with alternatives to continually support your children’s schooling and the bills around the house that you need to pay. When you have other financial obligations such as your house and car financing, insurances, and other pre-need plans, you might fall into depression when you do not act quickly and accept that these times will just pass. In one way or another, you can deal with unemployment on a positive air and you can get the job you need soon.

Emotional instability in the family is one of the costs of unemployment. A reduced standard of living will cause a lot of emotional problems to the family. Looking into the society, unemployment is detrimental as well. When workers are unemployed, their capacity to work is put to waste. A particular business in the production sector will be manufacturing fewer goods due to lack of people. It will then result to lesser goods made available for purchase by the public. When unemployment rate is high, consumers cannot pay for goods or services, too.

Frictional unemployment occurs when people are just waiting to begin with their next job. They are simply between jobs due to relocation or being hired elsewhere. Structural unemployment happens when people do not get the jobs they need due to rapid changes in technology or industry shifts. Cyclical unemployment occurs when there is a general downturn in business activities within the society and employers are not creating enough jobs for active jobseekers.