You May Also Find These Documents Helpful
-
The recession has everyone down in the dumps, most people are working two jobs just to make ends meet and somehow that is still not enough. However, there is a lot of promoting of entrepreneurship and the importance of hiring, building a workforce that will support job creation and economic development will help to lower the unemployment rate and will aid in the boosting of the economy because people will start to spend and travel abundantly.…
- 1360 Words
- 6 Pages
Better Essays -
Unemployment is a major issue in today’s society. Do you know what causes unemployment? Do you know who it affects? I do, let me tell you. Unemployment effects everyone, whether it be directly or indirectly. Even if you are employed, the unemployment of people in your community can hit home. As a public relations specialist I work with people on a daily basis to try to get them the assistance they need so that they can get better jobs. There are several causes of unemployment such as recessions, disability, attitude towards employers, willingness to work, employee values, and discriminating factors in the place of work such as age, class, ethnicity, and race. All of…
- 1052 Words
- 5 Pages
Good Essays -
In order to understand how to solve a problem, you must actually identify how and why a problem exists. Unemployment data is calculated by counting the number of people that does not have a job but is actively looking for work in the past 4 weeks. Workers who have been laid off but are expecting to be called back to work by their employer are also counted. Those that are not counted are the ones that are NOT actively looking for a job. These citizens may have simply lost hope and decided to give up. In theory, our unemployment rate may be even higher due to the citizens that do not qualify as being counted as unemployed.…
- 521 Words
- 3 Pages
Good Essays -
Currently, our country is in a recession, and the unemployment rate is at an all-time high. The unemployment rate consists of people not only out of work but also those who can work and are actively looking for work (Colander, 2010). Unemployment also means there are more people out of work than there are jobs available (Colander, 2010).…
- 1396 Words
- 6 Pages
Better Essays -
Unemployment basically means that individuals have less money and that usually means that there is less demand in the economy. This results in a shift in the aggregate demand curve which is the total amount of goods and services demanded in the economy at an overall price level and time period. The aggregate demand curve represents the relationship between price levels and quantity of output that individuals are willing to provide. The reason unemployment remains high comes from a lack of demand. An aggregate demand downfall is the kind of problem monetary policy can address. We need powerful and continuing monetary stimulus to move toward maximum employment and price stability. This shifts the aggregate demand curve to the left.…
- 1082 Words
- 5 Pages
Better Essays -
Unemployment may also be caused by technological change This can have a negative effect on unemployment as a company may replace labour with capital in order to become more efficient. Jobs are lost as technology is now used instead, or people dont have the skills required for the new production methods therefore…
- 2025 Words
- 9 Pages
Better Essays -
Year |Jan |Feb |Mar |Apr |May |Jun |Jul |Aug |Sep |Oct |Nov |Dec | |2010 |9.70 |9.70 |9.70 |9.90 |9.70 |9.50 | | | | | | | |2009 |7.70 |8.20 |8.60 |8.90 |9.40 |9.50 |9.40 |9.70 |9.80 |10.10 |10.00 |10.00 | |2008 |5.00 |4.80 |5.10 |5.00 |5.40 |5.50 |5.80 |6.10 |6.20 |6.60 |6.90 |7.40 | |The current total unemployment in US is getting higher because of several reasons. Firstly, the reason of the current total unemployment is 10 percent and it is higher than the year before is because many of the citizens stopped looking for job and so they are considered as unemployed workers. They are technically workers that have the potential to work but refuse to find a job. Besides that, the jobless rate continue rising is also because more people foresee the signs of an improving economy and by then, they will start looking for jobs again when inflation happens so that they will manage to get higher pay than their current jobs. This is because when an economy is growing and is an expansion, the demand for workforce would be high so that productivity can be increased to fulfil the excessive demand. At that time the wages will be higher than when economy is in an inflation condition. However, when an economy is in a recession, unemployment is usually rising. The estimated unemployment rate in year 2012 will be lower than 17.4 percent because the US’ workers have foresee the growing economy in the future which means inflation will happen. When inflation happens, US’ workers will start looking for jobs. To have a closer understanding about the estimated unemployment rate in year 2010, there is a graph below the graph that our group took from http://www.tradingeconomics.com/Economics/Unemployment-Rate.aspx?Symbol=USD that discussed about the unemployment rate from July 2008 to July 2010.…
- 486 Words
- 2 Pages
Good Essays -
Comparing to the unemployment rate (10%) after 2008’s recession, US is now reaching a relatively low unemployment rate. A low unemployment rate is one of the four macroeconomic objectives that economists always want their nations to achieve. Unemployment is simply defined as the state of being out of work, seeking for a job but unable to find a job. The author stated that US employers added more work opportunities to their payrolls. The job growth in the last year reduces the unemployed people and “maintain low unemployment once the labor market…
- 859 Words
- 4 Pages
Good Essays -
Unemployment is an extremely serious and scary issue due to the effect it has on our current state of economy. As a student and a future graduate, I am extremely concerned with this subject. If the job-market situation does not change for better, unemployment can represent a serious issue for all students, recent graduates, and current unemployed workers. And can have a significant effect on socioeconomic conditions and therefore, economy itself.…
- 934 Words
- 3 Pages
Good Essays -
In every society there will always be a number of people who are unemployed. Unemployment is when there are people in our society who desire work but are unable to obtain it because of the fact that there are not enough jobs for everyone. This is bad for the America's economy because there are a lot of able-bodied and willing people out there, who simply cannot find employment.…
- 777 Words
- 3 Pages
Good Essays -
According to Gillespie (2011)1, “unemployment is a measure of the number of jobless people who want to work, are available to work, and are actively seeking employment.” However, unemployment does not include underemployed workers and part time workers. Since 2008, the global unemployment rate has grown. However, in normal situations or even boom times, the unemployment rate never equals to zero. Hence, the main purpose of this essay will demonstrate the situation of unemployment. It will first describe how to measure unemployment. Then, the causes and effects of unemployment will be outlined. Finally, it will examine government policies and evaluate their effectiveness.…
- 2338 Words
- 10 Pages
Powerful Essays -
These days, one of the biggest causes of unemployment is the Global Recession. When a country goes through economic crisis, the consume of goods and services tend to reduce; as a result, many people are being sacked by their companies, in order to reduce costs and confront the crisis. The salary of employees are being fairly reduced and the rate of unemployment is rising day by day, leading to low wages for the people that are in fact employed. In addition, the recession also detracted the young job seekers, the ones out of college, to find a job because most companies can not afford to hire new people. Another important factor is the Technological Unemployment.…
- 426 Words
- 2 Pages
Satisfactory Essays -
Unemployment defined by the Encyclopedia Britannica is the condition of one who is capable of working, actively seeking work, but is unable to find any work. In addition, to define a person as unemployed, the person must be an active member of the labor force in search of work. (Encyclopedia Britannica, 2012) There are three different types of unemployment: frictional, structural, and cyclical. Due to various causes in the economy, there will always be a certain number of people that are frictionally or structurally unemployed. However, cyclical unemployment only happens when an economy is in a downturn. Cyclical unemployment signifies a decrease in the GDP. Unemployment produces many unpleasant effects. Unemployment affects not only the unemployed but also society as a whole. These effects can be monetary and social. Overcoming certain barriers to job creation can help reduce frictional and structural unemployment. However, cyclical unemployment requires government intervention. Most economists believe that aggregate demand must increase to get back to full employment. Using Keynesian economics, government spending must increase to shift the demand curve to the right, which causes employment to rise. Overall, any type of unemployment is an issue but there are ways to reduce the unemployment rates and keep our economy at least close to full employment thus reducing the unpleasant effects of unemployment.…
- 2302 Words
- 10 Pages
Good Essays -
Unemployment is a curse to any economy. It destroys productive resource. It impedes growth in the country. It generally reduces output and aggregate income. It increases inequality creating a gap in between employed and unemployed. Apart from lost output, there is a personal cost attached to the unemployment. In developed countries due to high unemployment allowance, short term unemployment may not affect a person much but in long term its effect is a personal disaster.…
- 850 Words
- 4 Pages
Better Essays -
Unemployment causes social and economic effects, which turn out to be a problem to society. The poverty index among the unemployed is high since these individuals do not have a source of income. On the social front, it increases illegal means of earning livelihoods. In a place where unemployment is on the rise, such a country has high cases of robberies, gambling, prostitution and bribery. This is a reason why unemployment contributes to social insecurities.…
- 270 Words
- 2 Pages
Satisfactory Essays