The Psychological Impact of Unemployment on Individuals

Abstract

The elevations in unemployment have largely added to the psychological adversities among the unemployed individuals by restricting their finances and ultimately affecting their daily life expenditures. The current study has used qualitative method to get comprehensive information on the repercussions of unemployment. The study used random sampling to select 20-30-year-old individuals who had been jobless for 5-6 months. Open-ended, partially structured interviews were conducted with 6 unemployed participants (3 male, 3 female) to gather detailed, systematic information. The data collected was based on five main domains including: demographic information, Psychological wellbeing, Relationship with family and friends, Quality of life and material wellbeing, and thoughts, hopes and aims for the future. The results indicated that unemployment caused stress, depression, lack of self-esteem and self-worth among individuals. Two participants even admitted having suicidal ideation after losing their jobs. The results also indicated that although the quality of life and living standards of the participants had been compromised, they still felt that their friends and family were a source of support and encouragement for them. This study links mental health, relationships, and financial issues with unemployment. Larger samples across different societies could provide more generalizable findings and insights into coping methods used to address the challenges of unemployment.