When many people are out of work, it can create serious problems for the economy and society. Here are a few ways this happens:
Less Money Made: When people don't have jobs, they can't create products or provide services. This means the overall money made in the country goes down.
More Government Help: With higher unemployment, the government spends more money on benefits for those who can't find jobs. This raises public spending.
Social Problems: When more people are unemployed, it can lead to more crime, mental health issues, and protests or unrest in communities.
In the end, high unemployment affects everyone, not just those who are jobless.
When many people are out of work, it can create serious problems for the economy and society. Here are a few ways this happens:
Less Money Made: When people don't have jobs, they can't create products or provide services. This means the overall money made in the country goes down.
More Government Help: With higher unemployment, the government spends more money on benefits for those who can't find jobs. This raises public spending.
Social Problems: When more people are unemployed, it can lead to more crime, mental health issues, and protests or unrest in communities.
In the end, high unemployment affects everyone, not just those who are jobless.