What are the effects of the lack of financial security of unemployment?

Asked on 08.01.2019 in All Questions,   Economics.
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The effects of the lack of financial security of unemployment can cause poor mental health, and studies have shown the beneficial effects of unemployment compensation in such contexts. However, unemployment is also associated with poor mental health due to the absence of non-financial benefits provided by an individuals job, such as social status, self-esteem, physical and mental activity, and use of the individual’s skills.  Being unemployed has a major effect on person self-esteem. Many individuals who are let go from their jobs or are unable to find work find it difficult to have self-confidence due to the feeling of not being good enough...
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