Unemployment: The Social and Economic Impact
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The paper analyzes the economic and social impact of unemployment on the individual and the society as a whole. The paper explains that employment is socially significant because, particularly in the Western culture, a full-time permanent job has been the basis of the process of social integration and the main source of life-security and social identity. The paper then discusses how aside from the financial hardship, the unemployed are likely to suffer psychological harm, stress, social exclusion and disruptions in family life. Furthermore, the paper reveals that high unemployment contributes to higher suicide rates, increases mortality, increases the crime rate and is exacerbated racial, ethnical and gender inequality.
From the Paper:"Work serves as a source not only of income but also of personal satisfaction, social prestige and self-confidence. This is why unemployment causes both financial hardship and psychological stress for the individual and the society as a whole. Unemployment is found in every society today. Few people when entering the labour force find a job immediately. Some people leave the work force temporarily to seek a better position. Others are forced to leave because of a long-term illness, whilst those who are illiterate or without skills find themselves locked out of the job market. It is true that many jobs are being lost and the jobs lost are mostly those held by blue-collar workers. The USA has experienced considerable deindustralization since the 1970s. "Deindustrialization is the process whereby automotive, steel, chemical, textile, electric and other manufacturing industries decline as a result of relocation or plant closures." Brym,1995; 10.10). This, as well the introduction of computers, robots and automated systems has accelerated the job loss in this sector."
Cite this Analytical Essay:
Unemployment: The Social and Economic Impact (2003, October 22) Retrieved December 04, 2023, from https://www.academon.com/analytical-essay/unemployment-the-social-and-economic-impact-32730/
"Unemployment: The Social and Economic Impact" 22 October 2003. Web. 04 December. 2023. <https://www.academon.com/analytical-essay/unemployment-the-social-and-economic-impact-32730/>