While the spike in unemployment seen during the recession has led to many jobless workers who must deal with debt consolidation and other financial problems, the effects of joblessness may reach beyond only financial problems.
According to a newly released report from the National Bureau ofEconomic Research studying the short-run effect that the job loss of parent on their children’s academic achievement, a parent’s unemployment increases the probability that a child will repeat a grade by almost 15 percent.
The report also cites other studies before stating that the involuntary loss of a job can have notable consequences on the psyche and health of the adult as well.
In addition to a permanent lowering of earning by up to 25 percent documented by three studies from the 1990s, another 2009 report was referenced that showed a "substantial" increase in mortality among workers who had lost their jobs in plant closings.
In a recent New York Times Report, Fishers, Indiana resident Robert Syck said that the relationship between him and his stepson had become strained since his firing from the position of a call-center manager in March.
"Its only been particularly in the last few months that it’s gotten really bad, to where we’re verbally chewing each other out," Syck told the Times. "A lot of that is due to the pressures of unemployment."