The EnD's Designs
Unemployment obviously reduces happiness, but not because of what you may think. It’s not the loss of income, but the loss of things like self-esteem and workplace social life that lead to a drop in happiness. High unemployment rates can trigger unhappiness even in the employed, who suddenly become fearful of losing their jobs. According to the study, even low quality jobs yield more satisfaction than being unemployed.
The World Happiness Report Explains What Makes People Happy

Interesting, and though fortunately I have yet to be unemployed, I can attest to the second part of that statement being absolutely true!

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