Definition of «economic hardship»

Economic hardship refers to a state in which an individual or household is unable to meet their basic needs, such as food and shelter, due to financial difficulties. This can be caused by factors such as unemployment, underemployment, low wages, high expenses, debt, or other economic challenges that make it difficult for people to make ends meet. Economic hardship can lead to stress, anxiety, depression and other mental health issues, as well as physical health problems due to lack of access to proper medical care, nutrition, and housing. It is often measured by indicators such as poverty rates, unemployment rates, and the cost of living in a particular area or region.

Sentences with «economic hardship»

  • Age and ethnicity differences appear to reflect cohort effects related to the impact of economic hardship on families earlier this century and racial prejudice. (academic.oup.com)
  • While some programs require that people jump through hoops, borrowers only have to meet one of four criteria to qualify for economic hardship deferment on federal loans. (studentloans.net)
  • While some programs require that people jump through hoops, borrowers only have to meet one of four criteria to qualify for economic hardship deferment on federal loans. (studentloans.net)
  • (see all sentences)
a b c d e f g h i j k l m n o p q r s t u v w x y z