Unemployment refers to the number of people in an economy who are willing and able to work, but are unable to get a job. Some effects on the economy are that individuals need to satisfy their needs before their wants, therefore decreasing their standard of living. Businesses will have to cut prices in order to sell their products. By cutting prices this leads to sometimes negative profits. If this happens to a business constantly the business will go out of business which will lead to an increase in unemployment. This might result in a deflation; a deflation will discourage spending, which could lead to a depression. Also your debt stays the same however less is earn, it will be harder to pay off the debts. The government will have a decrease in tax revenue which leads to an increase in the budget deficit. Other effects that unemployment has on our society are that South Africans as people have no money to purchase their needs this results in poverty which is the cause of many social problems consisting of dishonesty, gambling, bribery, theft therefore this a results in the social security of this country being jeopardised.…