2min chapter

Think Like An Economist cover image

S E27: Unemployment - Does joblessness have to mean hopelessness?

Think Like An Economist

CHAPTER

Long Term Unemployment Can Make Any Worker More Unemployed

When there's a recession, there aren't enough jobs. So i'm guessing more people can end up unemployed for a long time. And it's a huge problem. Employers will discriminate against the long term unemployed. Even when those who lose jobs in recession get jobs, it's often at a lower wage and often with a worse job as well. Unemployment is really stressful and can make people feel isolated and question their self worth.

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