Unemployment is a major factor of concern in almost all the countries in this world. There are practically more than million unemployed people in this world as of now. Some of these people are willing to work and have no jobs. There are many who have no desire to work and want to remain unemployed. For many it’s a choice of life while for others there is no choice but to remain in this state. There are many who argue that there might some positive effects of unemployment. But to this day, the negatives have somewhat outweighed them. Now there might be various reasons for unemployment. Studies have revealed that there are four types of unemployment. Frictional unemployment, structural unemployment, cyclical unemployment and technological unemployment are the four such types. There are many people who move from one job to another which causes a type of transitional unemployment. This is called Frictional unemployment. Structural unemployment occurs when there is a disparity between the worker and his job. Lack of experience and of jobs occurs in structural unemployment. Cyclical unemployment is when there is genuine lack of work for people. Whenever any company or industry is hit with recession thousands of people are sacked to save capital. Technological unemployment as the name suggests occurs due to cutting edge technologies in the market. These new technologies handle work and as such no manual force is required. Let us look at the pros and cons of unemployment.
Positive effects of unemployment
• The obvious one is, surely not having to wake up early morning for five days a week. We all know what a problem this is. Hearing the constant buzzing of the alarm clock is like a pain to the ears. The best thing of being unemployed is that you can wake up whenever you like, even at 11 in the morning.
• Not having to wait those tedious morning traffics. There have been umpteen numbers of times when people were late because of the horrendous traffic on the way to work. To avoid traffic one had to wake up early to go to work. So by being unemployed you can just let go of such things.
• There is much more time to spend with your family and friends. This is perhaps a very significant positive effect of not having a 10 hour job. If you are at work there is hardly any time for your spouse and children. You just see the children when they go to school in the morning and when they sleep at night. There is hardly any time to attend plays, matches and parent teacher meetings. Being unemployed is the perfect opportunity to catch up on these little things. Then there is time to catch up on old friends and acquaintances.
• Traveling somewhere with your friends and family. Yes, there might not be much money in your bank account but a short trip is going to rejuvenate you. Traveling to a new place will also help to calm the mind and start a new and fresh approach towards life.
• A job where one is sitting continuously for hours behind a desk is not suitable for the body. Being unemployed is the best time to get your body fit and in shape. This way there is also a lesser risk of having any kind of illness.
Negative effects of unemployment
• The number one concern for unemployed people is financial. Everything in this world requires money and being unemployed means no source of income. There will be no money to pay the rent, for everyday needs, food and paying taxes. This will cause some serious issues which will lead to the depression.
• As mentioned above, unemployment leads to a serious of amount of stress and depression. The inability to pay for things will put enormous strain physically as well as mentally. At this time bad thoughts start to enter the mind which might lead to disastrous circumstances.
• Long duration of unemployment might be looked down upon in some places. If you go for an interview after being unemployed for too long, it might not look good for your resume.
• The nation as a whole suffers because of large number of people being unemployed. The job rate goes down and many foreign people come and start working the jobs. In some cases the government even has to give some amount to the unemployed.
These were some of the effects of unemployment. Having a job will only benefit you in the long run. It will earn bread and butter for your family and provide luxuries.