Essay On Unemployment In America

Workers have been migrating to America since the day it was colonized in search of not only economic opportunities, but a future. At first they were primarily motivated to establish a religious utopia, but quickly shifted their goal towards a capitalistic society. The result of a capitalistic society can cause certain people to succeed, however, the consequences of their greed that led them there is at the expense of others, as evident during the Great Depression; fortunately, there exists people with altruistic motives that believe in moving forward as a nation, rather than as individuals. While economic events such as recessions and depressions can change human values and beliefs by inducing fear and reigniting prejudices, they are unable

Today, the unemployment rate in America has been the lowest it’s been in the past seven years as a result of not only the government’s efforts, but the workers as well. There are multiple categories of jobs that were a substantial factor in lowering the rate. They included the civilian labor force participation rate of 62.8 percent, the 6.6 million involuntary part-time workers, the 2.1 million people marginally attached to the labor force (they do not have a job, but are not counted as unemployed), and the 756 thousand discouraged workers (people who believe that there are no jobs available for them); in the past year, the amount of people in these categories has decreased by 888 thousand in terms of those long-term unemployed. Despite the low unemployment rate, there are still nearly five million job vacancies nationwide that should work to be rectified as soon as possible. Comparatively, however, the United States is not at all behind in terms of the overall unemployment rate itself, but falls short of having the lowest unemployment rate internationally. Surprisingly, the world’s most populous countries of India and China have a lower unemployment rate than the United States; it’s less than four percent! (Trading Economics) Regardless, it serves as an example that while the overall unemployment rate may be low, it can go lower; although the majority of people are enjoying the surplus of jobs, five percent of Americans are still