asterisk2a + science + output-gap   1

The Human Disaster of Unemployment -

The physical and psychological consequences of unemployment are significant enough to affect family members. The economists Kerwin Charles and Melvin Stephens recently found an 18 percent increase in the probability of divorce following a husband’s job loss and 13 percent after a wife’s. Unemployment of parents also has a negative impact on achievement of their children. In the long run, children whose fathers lose a job when they are kids have reduced earnings as adults — about 9 percent lower annually than children whose fathers do not experience unemployment.

We all understand how the human costs can be so high. For many people, their very identity is their occupation. Few events rival the emotional strain of job loss.
psychology  social  science  culture  society  economic  history  output-gap  underemployed  long-term  sovereign  debt  crisis  2013  2012  greatrecession  GFC  human  tragedy  unemployment 
january 2013 by asterisk2a

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