Does a high rate of unemployment hurt anyone other than those individuals unemployment? Explain.© BrainMass Inc. brainmass.com October 9, 2019, 11:23 pm ad1c9bdddf
In purely economic terms yes it does hurt other than those who are unemployed. The biggest reason is that a high unemployment rate reduces your available resources and thus reduces the amount that a nation can produce.
A simple example will explain this: Suppose there are two countries that both produce a single good, say apples, using just ...
Discusses the effects of unemployment on different individuals.