Implications of Unemployment for Individuals, Firms, Government and the Economy (2 Viewers)

[Drifting95]

hello everyone,

I have an in class essay coming up next week and one of the parts is to answer " Analyse the Implications of Unemployment for Individuals, Firms, Government and the Australian Economy"

Would i be on the right track if i said:

Individuals: Decreased standards of living, consumption etc
Firms: Decreased sales, profits, investment, production etc
Government: Increased social welfare costs etc
Economy: Decreased economic growth, total GDP etc

any help would be great,

Thanks

 

[Drifting95]

anyone?

 

[coyney]

daniel?

 

[Drifting95]

daniel?

Yes, Dylan i'm assuming from your username?

 

[ClockworkSoldier]

Psychological effects on the Individual?