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Employment as a dominant form of work in the modern market economy has the primary economic function of providing employees with financial income. Besides that employment also has several latent social and psychological functions, which may also occur in other social activities but only employment provides them in an abundant and consistent system. Those who are unemployed are in a situation where these functions of employment are endangered. The more one has been involved in the world of employment the bigger the challenge for adjustment to the changed life situation and the risk of psychological damage while going through the adjustment process are. The book gives a critical overview about the historical development of employment and unemployment and the social-psychological theory of unemployment. Its aim is also to develop a new explanatory model on the social-psychological consequences of unemployment: that is the „involvement model".