eli5: Why is high unemployment rate bad and why are people who are employed still worried about this even though they have a job?

Question

eli5: Why is high unemployment rate bad and why are people who are employed still worried about this even though they have a job?

In: Economics

Answer 1

In the US having a job is a requirement to live for most people. Without income from work the vast majority of Americans would not have enough money to afford basic necessities like food and shelter.

Employed people are worried about high unemployment because it is *very* easy to become unemployed through no fault of your own.