It is said that money can’t buy happiness, but it can provide sources to find it. Meaning, we can’t even talk about well-being in the state of poverty, because money and well-being are very closely linked.
The amount of money one has is measured by his possessions like properties and jewels etc. because in the present world they play as the key contributor in an individual’s well-being. But not all people believe in these theories, some believe that one’s well-being or social status is not so much influenced by money instead it is a complicated mix of material, cultural and social factors, for example people like intellects, artists and journalists. Work provides financial security, because according to the Office for National Statistics (ONS) analyzed data from over 2000 people to measure the nation’s well-being. 80% of the people rated that having a job is more important than how much it pays. Because the results proved that job security, personal health and relationship with the families were at the top of most people priorities. Work is about a human’s life and not only about the income. That is why if a person has no work, his/her whole life falls apart. They are much more likely to be stressed and depressed which leads to bad health problems.
Unemployment is a major threat to the society; it has a major negative impact on it because it leads people to adopt criminal behavior and the crime rates go high. It increases the uncertainty in the society it also contributes to high poverty population. Because having no work deprives us from fulfilling our basic needs and when they are not met the people depending on them also suffer. The challenges of unemployment not only cause recession but it does more than that for example:
Unemployment hurts the chain of capitalism, when people are unemployed they lose the power to purchase