Consequences of Unemployment - JSS3 Civic education Lesson Note
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Financial Hardship: Unemployment can lead to financial strain, as individuals lose their primary source of income and struggle to meet basic needs such as food, housing, and healthcare.
Social Isolation: Unemployment can result in social isolation and psychological distress, as individuals may experience feelings of shame, worthlessness, and loneliness due to their inability to find work and participate in social activities.
Economic Costs: Unemployment imposes significant economic costs on society, including reduced consumer spending, lower tax revenues, increased government spending on social welfare programs, and lost productivity.
Skills Erosion: Prolonged unemployment can lead to skills erosion, as individuals may experience stagnation or decline in their skills and qualifications, making it harder to re-enter the workforce and compete for available jobs.