While there are many negative things that come from high unemployment rates, there are also a few things that people should be able to take advantage of from high unemployment rates including:
- Better housing markets. When unemployment is high, many people foreclose on their homes causing the bank to sell them or some other immediate action to take place. People looking for a house can easily take advantage of this quick selling and often lower prices.
- Employers have more of an advantage to who they hire- unemployment provides a wide range of applicants to help employers have more of a chance at the right fit.
- Employers pay lower wages- this is an advantage to everyone because higher wages mean higher taxes and other costs that will greatly negatively impact an entire economy. A higher wage may seem better for you, but it is worse for the economy.
- Unemployment causes people to look at the way they are living and spending. It may be harder for a person to see that they are living above their means when they are still making money but they will quickly see it when their major income source is diminished.
- People are forced to spend more time together- it may seem like something small, but unemployment gives people who may have been workaholics more time with their family.