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Consequences of Unemployment

In the immortal words of singer/songwriter Todd Rundgren, "I don’t want to work I want to bang on the drum all day."

Maybe banging a drum doesn’t appeal to you, so how about "I don't want to work, I want to sleep in my bed all day." Or, maybe, "I don't want to work I want to play video games all day." Or you fill in the blank: "I don't want to work,
Girl dreaming of the things she wants. I want to _______ all day."

So would not working be a dream come true? Maybe. Maybe not. There's a lot to be said for work:

  • People feel a sense of purpose when they have a job.
  • Being productive all day exercises the mind and the body.
  • People can purchase more goods and services when they are earning a wage.
  • When people work to produce goods and services, society gets more goods and services to enjoy.

If life without working were such a good thing, news of high unemployment wouldn't be, well, newsworthy. Unemployment is costly for individuals and society. In this short module, you will learn about the consequences of unemployment.

Follow along with FRED THE FRUGAL EAGLE® as he explains the consequences of unemployment.