Rich is laid off his job. As a result, his income falls by $35,000. This is an example of unemployment's:

Name: Rich is laid off his job. As a result, his income falls by $35,000. This is an example of unemployment's:
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Question

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The loss of income for Rich is an economic cost to the individual. Unemployment can have a significant financial impact on a person and their family, including loss of income, difficulty paying bills, and potential long-term financial consequences.

Rich Is Laid Off His Job