economic and social impact of unemployment?

Answer 1

high unemployement rate results in lower buying power, slower (or even negative) economic growth (economic impact) and usually creates higher crime rate, lower education rate, lower health standard, etc (social impact)

Answer 2

Social Consequences Of Unemployment

Answer 3

Depends on the timeframe. Immediate unemployment may or may not lead to significant changes in lifestyle. However, as the unemployment duration increases, there tends to be a shift towards dissaving and use of credit, as well as a depletion of wealth in general across the populace. If consumption decreases, this has proportional impacts on consumer-driven industries. As unemployment approaches the long-term, we see a thorough divestment as durable resources are sold, depreciated, or lost through financier action. Ultimately the result is impoverishment and stagnation.

Socially, unemployment can be devastating to individuals, their families and the community.

Answer 4

Here's a blog post that may help. It's called "The Role of Unemployment in Civilization." It's an easy read:

http://www.marketplacemonitor.com/2006/01/the_role_of_une.html