Impact of unemployment on Economic Agents + Factors affecting

Question 1

What impact is there on the government for unemployment

Answer 1

a higher government spending on benefits which increases their opportunity cost for other things
on the other hand
they reach cpi goals because lower prices (link to inflation)

Question 2

what impact is there on the individuals for unemployment

Answer 2

less disposable income thus poor living standards
loss of skills
dependency on welfare state

Question 3

what impact is there on producers for unemployment

Answer 3

cost of labour is cheaper because supply increases and wage level decreases

Question 4

what are the 5 factors effecting level of unemployment

Answer 4

changes in tech
size of labour force
education and training
investment
the discovery of a new natural resource