Question

Explain the cost of unemployment to society.

Answer 1

The most noticeable effect of unemployment on society is economic, because the unemployed have less money to spend, meaning companies don't make the same profit. Unemployment, too, has social implications. Unemployed people may suffer from depression or other mental health problems, and they may struggle to provide for their families, especially when it comes to nutrition and healthcare.

Unemployment may have many effects on society if it is big enough. Such impacts can be economic, but in areas such as crime and the family they can also be seen.
The most obvious effect of unemployment is that it affects the economy. Unemployed people have less money to spare. They will buy less products and services and thus make companies less competitive. This, in effect, will lead to even more joblessness. High unemployment has very negative economic implications, though.

Unemployment can affect society in ways that go beyond its impact on the economy. Unemployment can be very hard on a worker psychologically, for example. It can cause that person to doubt his or her worth as a person. This can lead to stress in the relationships within that individual. Unemployed people are less likely to get married and more likely to divorce, because they are overwhelmed by their lack of jobs. Stress can also lead to poorer health in the unemployed, which gets worse if they have less access to health care than they did before. Finally, unemployment could potentially lead to criminal activity. A individual without a job still needs life's necessities.

Unemployment affects society in many other ways. It can, in general, have both an economic impact and a more social than an economic impact.