A 50% unemployment rate seems highly unrealistic now or even in the not so distant future. However, let's assume this did happen. It would be totally ugly and insane to see, the world would probably look like Mad Max.
Highly unrealistic, yeah that's the word to explain it.
50% unemployment rate globally and the OP thinks about the prices in the market. Most people would probably going to find another alternative to survive and fill their stomach without using fiat.
Crime rate would definitely going to be in an all time high and during that time, we would be in the verge of an apocalyptic scene. Yes, just like the mad max lol.
We might have seen a decline in unemployment lately before and after the pandemic, but that doesn't mean people stopped earning income, as some people have found their way to work for their own and consistently earning income from the comfort of their homes.