In the United States today‚ a huge social issue that Americans are facing is unemployment. Unemployment is so important today‚ because it has retaken its place in Americans’ minds as the country’s biggest social problem in the United States. According to brookings.edu‚ “The government’s report that the economy added only 74‚000 jobs in December‚ while the unemployment rate dipped to 6.7%‚ has left many feeling dispirited and confused ”(1). This quote is explaining that the Economy is creating more
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is this country not blessed? Yet‚ it is still plagued by youth unemployment which had been one of our major problems in recent years. Both government and the private sector had discussed this issue at forums and conferences but have not found a solution to it. Its continued existence had been linked to lack of power supply and financial empowerment for youths. Youth unemployment in Nigeria is mostly referred to as graduate unemployment and this means that only the skilled youths are seen as unemployed
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Adapted : Unemployment Situation in Pakistan By Samina Khalil and Rao Noman Saleem Applied Economics Research Centre July 05 - 11‚1999 Society Unemployment Situation in Pakistan Column For the record Politics&Policy SAARC: UNIQUE FEATURE Unemployment is a central problem because when unemployment is high‚ resources are wasted and people’s incomes are depressed; during such periods‚ economic distress also spills over to affect people’s emotions and family lives. Now we see
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Affect of unemployment in economy Unemployment (or joblessness) occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession‚ an economy usually experiences a relatively high unemployment rate.[2] According to International Labour Organization report‚ more than
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Policies for Reducing Unemployment There are two main strategies for reducing unemployment - • Demand side policies to reduce demand-deficient unemployment (unemployment caused by recession) • Supply side policies to reduce structural unemployment / (the natural rate of unemployment) Demand Side Policies [pic] Demand side policies are important when there is a recession and rise in cyclical unemployment. (e.g. after 1991 recession and after 2008 recession) 1. Fiscal
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economy becomes volatile. This is where the government steps in to collect data regarding the unemployment in our country. (United States Department of Labor‚ Bureau of Labor Statistics‚ How the Government Measures Unemployment) Where do the statistics come from It’s more complicated than just looking up unemployment insurance (UI) information. That is how most people tend to think that the unemployment numbers are determined. This couldn’t be further from the truth. When the insurance benefits
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| | | | |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
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Unemployment as a Measure of Welfare Unemployment‚ as defined in books‚ is a situation wherein a person is jobless but is actively looking for work. To get the unemployment rate‚ we divide the total number of unemployed to the total labor force. Unemployment rate is sometimes used to determine the economic growth of a country. Unemployment has remained high in the Philippines for the past years. Since unemployment means no job‚ it is usually believed to be the cause of poverty. Our government
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Unemployment in United States Unemployment has been a problem throughout the United States since the beginning of 2009. In the most obvious sense‚ unemployment means “being without a job.” The term unemployment is one description of the economic condition of a society at any given time. Low unemployment means the majority of the labor force is involved in‚ or looking for steady work. On the other hand‚ high unemployment is an indication of an economy in recession or even worse. This implies that
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Unemployment or Inflation Wall Street Journal Assignment #1 Unemployment and inflation have an inverse relationship meaning that as one increases‚ the other decreases. According to the textbook‚ an ideal situation for the Federal Reserve would be to achieve both a low level of unemployment and a low level of inflation. After the 9/11 attacks in New York‚ the United States was put in a tragic financial crisis that led to the recession in 2008. While the debate for the causes of the 2008 recession
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