Effects Of Job Loss And Unemployment
Just last year, over 2.5 million people lost their jobs due to layoffs, quits and workers getting fired. The unemployment rate is now at a steady 4.9 percent; citizens of the United States lose their jobs every day. Layoffs at work can cause it, or it can simply be that one 's boss has fired them. Job loss and unemployment can affect one 's everyday life. Not only does losing a job affect one, but it also affects one’s family. On the contrary, they do have grants for people who are unemployed. However, there is a good chance one will not be eligible for financial aid. Alternatively, the amount of money would not be a sufficient amount for day to day living.
“The Great Stock Market Crash” was the largest economic depression in history. During this time in 1933, companies were forced to lay off workers because of the economy. This lead to over 13 million American citizens being unemployed. The United States has not seen an economic downturn like that since 1933, but that does not change the fact that Americans are still getting laid off in today 's society. Unemployment is common in today’s generation, and as more citizens lose their jobs, the economy continues to get worse.
The steps to losing a job and becoming unemployed are a chain of …show more content…
Job loss does not only effect one individual person, but it also affects one’s family. The amount of income decreases and one must budget their money. My uncle was unemployed for two years, and he told me that “the worst feeling is not being able to provide for your family, and it feels even worse being a man and having to humble yourself to ask someone for help with money or food. Being unemployed were the most depressing times of my life.” Losing a job can send one into a state of despair and hopelessness, that is why it is advantageous that one gets reemployed and regains their