Unemployment is a very serious concern because it not only affects the breadwinner, but also the entire family. Its negative effects on the well-being of a family are discussed below.
When the breadwinner of a family loses his/her job, the entire family is adversely hit by the effects of unemployment. Steady source of income is extremely important for fulfilling all the needs of a family. But when this steady income comes to a halt, financial security is lost due to which the family suffers emotional, psychological and social disturbance.
Whatever be the cause of unemployment, for a person willing to work, this phase is extremely disheartening and it directly or indirectly affects the happiness and prosperity of the family.
Reduced Disposable Income
Loss of Financial Security
Increased Susceptibility to Health Problems
Negative Effects on Children
Loss of Retirement Security
Dependency on Government Welfare Programs
Handling unemployment can be extremely difficult. However, a person with a positive attitude and a peaceful mind can definitely find out ways to deal with unemployment, so that the entire family does not have to suffer too much.