Unemployment affects nearly 4.1% of the labor force, translating to 7.1 million individuals. It is not a permanent state for most, with a median duration of 10 weeks. Nevertheless, the toll of unemployment is substantial; it raises the risk of mortality, with significant increases in mental health issues such as depression and anxiety. The lack of a job correlates with decreased social integration and life satisfaction, as well as a rise in substance abuse. The long-term consequences, especially for youth, can result in lower lifetime earnings and persistent employment insecurity.
"Unemployment is one of the most stressful times in one's life, raising the risk of mortality by 63%, significantly impacting mental and physical health."
"Losing a job harms perceptions of social integration, life satisfaction, and access to financial resources, leading to increased substance abuse and mental health issues."
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