SOCIOECONOMIC CONSEQUENCES OF LONG-TERM UNEMPLOYMENT
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SOCIOECONOMIC CONSEQUENCES OF LONG-TERM UNEMPLOYMENT
Chapter one
INTRODUCTION
Background for the Study
Global unemployment remains a major issue with considerable social consequences (World Bank, 2019). Long-term unemployment is especially troubling because it affects not only individuals but also communities and regions as a whole.
Benue State in Nigeria is not immune to this phenomenon (Damachi, 2021). Despite efforts to address it, the state remains plagued by high rates of long-term unemployment, which has a substantial impact on its socioeconomic landscape (Eme, 2023).
Long-term unemployment has significant socioeconomic repercussions in Benue State, affecting many aspects of people’s lives. One of the most affected areas is financial stability, as extended unemployment commonly results in income loss and poverty (National Bureau of Statistics, 2020).
People may struggle to meet their basic needs, increasing their reliance on social welfare systems (Gbosi, 2021). Furthermore, low funding can impede access to healthcare and education, hence perpetuating the poverty cycle (Isah, 2020).
Long-term unemployment also has a substantial influence on mental health. People who have been unemployed for an extended period of time may experience increased levels of stress, anxiety, and depression (Okoroafor & Nwaeze, 2023).
Furthermore, the stigma of unemployment can exacerbate psychological distress, leading to social disengagement and withdrawal (Njoku & Ihugba, 2021).
To promote overall well-being and reduce social disparities, it is necessary to address mental health concerns among the unemployed (Okebukola, 2021).
Long-term unemployment has a significant impact on social ties in Benue State as well. Financial difficulty and volatility can have a severe impact on interpersonal dynamics, resulting in strained relationships with friends and family (Tairu, 2021).
Furthermore, not being able to afford social activities or support networks may lead to feelings of guilt and inadequacy (Igbuzor, 2021). Maintaining strong social relationships is critical for resilience and overcoming unemployment challenges (National Bureau of Statistics, 2020).
In Benue State, persistent unemployment has a significant detrimental impact on overall well-being (Damachi, 2021). When people struggle to meet their basic needs and participate in meaningful activities, their quality of life may deteriorate (Eme, 2023).
Furthermore, a lack of job opportunities can lead to feelings of despondency and stagnation, stifling personal progress and fulfilment (Corbett, 2021).
Addressing the socioeconomic effects of long-term unemployment requires a comprehensive strategy that considers the interconnections of multiple elements influencing people’s lives (Iwayemi & Adenikinju, 2019).
Understanding these implications is critical in developing effective policies and actions to address long-term unemployment in Benue State (Igbuzor, 2021).
Policymakers can promote long-term economic growth and development by addressing the basic structural issues that drive poverty and unemployment (Isah, 2020). Furthermore, sponsoring social welfare, healthcare, and education activities might mitigate the negative effects of long-term unemployment while promoting social cohesiveness and participation (McClellan, 2019).
As a result, persistent unemployment has serious socioeconomic consequences in Benue State, affecting every aspect of people’s lives. Long-term unemployment affects one’s overall well-being, social relationships, mental health, and financial stability.
To address these implications, a comprehensive plan that prioritises funding for social welfare, healthcare, and education while accounting for the interconnections of numerous variables is required.
Policymakers in Benue State can promote inclusive growth and development by enacting policies that effectively address the socioeconomic consequences of chronic unemployment.
Statement of the Problem
A thorough examination of the socioeconomic implications and underlying causes of Benue State, Nigeria’s long-term unemployment crisis is required (Damachi, 2021). Despite efforts to battle unemployment, the state’s high long-term unemployment rates persist, indicating flaws in current policy initiatives (Corbett, 2021).
A significant gap remains in our understanding of the specific factors that contribute to the region’s long-term unemployment rate (National Bureau of Statistics, 2020).
Although numerous investigations have been conducted into the larger problem of unemployment in Nigeria, there is still a lack of comprehensive studies that focus specifically on the unique difficulties faced by those who have been unemployed for an extended period of time in Benue State (Iwayemi & Adenikinju, 2019).
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