Unemployment can have an impact not just on the economic well-being of a country (unused potential labour input and higher social protection payments)but also on the well-being of individuals who are without work. The personal and social costs of unemployment are varied and include a higher risk of poverty, debt or homelessness, while the stigma of being unemployed can cause a reduction in self-esteem, a breakdown in family/personal relations, or social exclusion.
Long-term unemployment may have a considerable impact on an individual’s well-being, leading to self-doubt, anxiety or depression, while people in this predicament also have a far higher risk of falling into poverty or social exclusion. Furthermore, the longer somebody remains unemployed, the less attractive they are likely to be for potential employers; this could reflect employer discrimination that prevents the long-term unemployed from receiving fair consideration fora vacancy or a depreciation in the relative importance of their past work experience and skills.https://ec.europa.eu/eurostat/documents/3217494/9210140/KS-HA-18-001-EN-N.pdf/655a00cc-6789-4b0c-9d6d-eda24d412188
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