Title: The Impact of Unemployment on an Individual | Career Trend
Headings: The Impact of Unemployment on an Individual
The Impact of Unemployment on an Individual
Stress
Financial Hardship
Self-Esteem
Lifestyle Changes

Content: The inability to pay bills on time and to keep up with current living standards places a burden on individuals, and they find themselves stressed because of situations that are out of their control. According to authors Deborah Belle and Heather E. Bullock of the Society for the Psychological Study of Social Issues, unemployment is directly related to many physical and mental problems. The stress people suffer because of unemployment can also negatively affect their families and cause hostile living situations. Financial Hardship
The most immediate impact of unemployment on an individual is the loss of income. The size of the impact depends on whether the individual receives unemployment benefits or has money saved to take care of living expenses until suitable employment is found. Some people fall so far behind on bills that they experience the repossession of cars, foreclosure on homes and a decline in their credit scores. Many unemployed workers also lose their health care benefits. The federal government offers a continuation of health insurance coverage through COBRA, but the cost to continue coverage is often too high for unemployed people. 00:00
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Self-Esteem
Workers experiencing prolonged unemployment periods often suffer from low self-esteem. Many workers not able to find jobs discontinue looking after a certain period and are considered discouraged workers.