I lived for a while in a failing country with high unemployment. The businesses and jobs that pay well become saturated very quickly. People are less likely to spend money and often delay purchasing new stuff or maintaining their homes. Many jobs exist because we dont have time to do them ourselves, and a significant number of these jobs will just vanish. It is really hard to prepare for a high unemployment rate society.
I lived for a while in a failing country with high unemployment. The businesses and jobs that pay well become saturated very quickly. People are less likely to spend money and often delay purchasing new stuff or maintaining their homes. Many jobs exist because we dont have time to do them ourselves, and a significant number of these jobs will just vanish. It is really hard to prepare for a high unemployment rate society.