The longer people are unemployed, the less employable they become. Skills become rusty; managers look more suspiciously at someone who has been out of work for years than a candidate already employed.
Sentiment: NEGATIVE
Being out of a job can erode people's confidence and their sense of possibility; and employers, often unfairly, tend to take long-term unemployment as a signal that something is wrong.
Individuals out of work for an extended period can become less employable as they lose the specific skills acquired in their previous jobs and also lose the habits needed to hold down any job.
Long-term unemployment can make any worker progressively less employable, even after the economy strengthens.
When more and more people are thrown out of work, unemployment results.
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.
Being unemployed has so many real and palpable ramifications but there are also psychological side effects which you can only understand if you've truly lived through it.
Even though there is rampant unemployment in many parts of the world, there are still large numbers of jobs that are going unfilled because employers are having a hard time identifying people with the right set of skills.
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.
In the 1930s, unemployed working people could anticipate that their jobs would come back.
While some people are certainly seeing economic benefits, many others are unemployed, underemployed, without health insurance and struggling to make ends meet.
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