Washington, Nov 2 : Being unemployed can have long-term and possibly permanent psychological effects, including low self esteem, depression and anxiety, on an individual, according to a new study.
The research team led by Arthur H. Goldsmith, the Jackson T. Stephens Professor of Economics at Washington and Lee University said that as the period of unemployment increases the effects often become chronic.
“In the first phase of unemployment, people have a benign ignorance and think it will turn out fine, that they are not going to be emotionally damaged by this, because they’ll just go out and get a job,” said Goldsmith.