Prolonged unemployment is a tragedy of broken lives, broken families, foreclosed homes, and life without health insurance.
Sentiment: NEGATIVE
For those unfortunate enough to experience it, long-term unemployment - now, as in the 1930s - is a tragedy. And, for society as a whole, there is the danger that the productive capacity of a significant portion of the labour force will be impaired.
Unemployment is a great tragedy. The man who goes about hopelessly seeking work in order to earn bread for his children is a living reproach to civilization.
When more and more people are thrown out of work, unemployment results.
The shock of unemployment becomes a pathology in its own right.
While some people are certainly seeing economic benefits, many others are unemployed, underemployed, without health insurance and struggling to make ends meet.
This crisis of long-term unemployment is having a profoundly damaging impact on the lives of those bearing the brunt of it. We know this thanks to a series of careful studies of the problem conducted in the depths of the 1930s Great Depression.
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
Being unemployed is even more disastrous for individuals than you'd expect. Aside from the obvious harm - poverty, difficulty paying off debts - it seems to directly affect people's health, particularly that of older workers.
Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth.
I've heard the argument that unemployment benefits somehow act as a disincentive to the long-term unemployed when it comes to looking for work, but the opposite is true. Unemployment Insurance serves as a powerful incentive for people to keep searching for jobs, rather than drop out of the labor force altogether.