US Unemployment Issues
09/20/2013
U.S. Unemployment Issues Fluctuation of unemployment rates is a natural occurrence in any economy. Many speculate that if something cannot be done to resolve the current issues plaguing the rate of unemployment in the U.S. the result will soon be an economic crash resembling the Great Depression of the 1930’s. This is something that we as a nation continue to address but cannot seem to get under control, causing our economy to sustain substantial damage. This is a highly debated issue among many; one that has many speculated causes and what would seem to be few definite answers leading to potential solutions.
According to The Associated Press at NJ.com, “The gap in employment rates between America 's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted.” When analyzing the unemployment rates while separating the data according to level of income it is seen that the rate of unemployment for workers earning a salary less than twenty thousand a year has risen above twenty-one percent in recent statistics. It is known that the majority of U.S. citizens fall in or around this level of income associated with lower to middle class. Recently President Obama stated, “The folks in the middle and at the bottom haven 't seen wage or income growth” which, when paired with the fact that this rate nearly matches that of all workers during the Great Depression, it is apparent that the country is dealing with a large issue.
When observing the unemployment rates of households generating an income amounting to at least one hundred and fifty thousand dollars annually, the unemployment rates are on average around the 3.2 percent range according to The Associated Press at NJ.com in co ordinance with the U.S. Bureau of Labor and Statistics. This statistic is said to be typically defined as a level of full employment. Unfortunately this
U.S. Unemployment Issues Fluctuation of unemployment rates is a natural occurrence in any economy. Many speculate that if something cannot be done to resolve the current issues plaguing the rate of unemployment in the U.S. the result will soon be an economic crash resembling the Great Depression of the 1930’s. This is something that we as a nation continue to address but cannot seem to get under control, causing our economy to sustain substantial damage. This is a highly debated issue among many; one that has many speculated causes and what would seem to be few definite answers leading to potential solutions.
According to The Associated Press at NJ.com, “The gap in employment rates between America 's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted.” When analyzing the unemployment rates while separating the data according to level of income it is seen that the rate of unemployment for workers earning a salary less than twenty thousand a year has risen above twenty-one percent in recent statistics. It is known that the majority of U.S. citizens fall in or around this level of income associated with lower to middle class. Recently President Obama stated, “The folks in the middle and at the bottom haven 't seen wage or income growth” which, when paired with the fact that this rate nearly matches that of all workers during the Great Depression, it is apparent that the country is dealing with a large issue.
When observing the unemployment rates of households generating an income amounting to at least one hundred and fifty thousand dollars annually, the unemployment rates are on average around the 3.2 percent range according to The Associated Press at NJ.com in co ordinance with the U.S. Bureau of Labor and Statistics. This statistic is said to be typically defined as a level of full employment. Unfortunately this
Cited: "Median US Household Income, 2001-2011" Quartz. 6 March 2013. Web. http://qzprod.