Question

Explain how unemployment impacts each of the following groups:

• laborers
• businesses
• government

Give at least three examples for each group.

Can anyone give me some help towards these groups? I have some already but I need three examples for each

Answer 1

Government will have to step in and offer financial assistance to unemployed workers, otherwise, the social costs would be devastating. Crime would rise if government withheld social support programs.

Businesses will lose customers if unemployment rises, thus they may start laying off workers.

Labors who lose their jobs will have to work for lower wages than in previous good times, thus cutting into consumption.

Government may have to engage in deficit spending to assure a "soft landing" for the economy rather than a "hard landing" like we are having right now.

Answer 2

Thank you, also do you have a bit more to add to labors?