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What are the causes of unemployment essay
Positive effects of unemployment
What are the causes of unemployment
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There are many important issues troubling the nation that need to be addressed in order for the nation to continue to thrive and be successful. The economy has taken a tremendous downfall over the past seven years and for many Americans things are simply not how they used to be. Perhaps among the most troubling issues remains the increasingly high unemployment rate that has escalated over the past seven years. Despite the various efforts to remedy the situation, the problem of unemployment has not been alleviated. It is important to analyze the underlying causes and root of the problem which is unemployment in under to assess its consequence and implement and effective solution to the problem.
Unemployment Defined
To understand clearly the problem that is unemployment, it is important to first define the term unemployment and how exactly it is measured which all requires substantial information. According to the United States Department of Labor people that are unemployed are jobless, looking for jobs, and available for work. In order to assess unemployment the Bureau of Labor Statistics of the U.S. Department of Labor surveys roughly 60,000 households that participate in the monthly sample survey, and intern announces current number of unemployed persons in the United States for the previous month along with their distinguishing characteristics (" labor force," 2009). The media does an excellent job of relaying these figures and reports to the general population. However as a result of these reports panic increases when high unemployment rates are announced and the economy begins to suffer a downward spiral. That is why it is important to pinpoint the causes of unemployment in order to alleviate the problem that affects all m...
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Psychological effects of unemployment and underemployment. In (2013). American Psychological Associaton. Washington D.C.: American Psychologists Retrieved from http://www.apa.org/about/gr/issues/socioeconomic/unemployment.aspx
Solutions: How to reduce unemployment. (2009, September 27). The Washington Times. Retrieved from http://www.washingtontimes.com/news/2009/sep/27/solutions-what-should-be-done-reduce-unemployment/
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United States Department of Labor , Bureau of Labor Statistics (2009). labor force statistics from the current population survey. Retrieved from website: http://www.bls.gov/cps/cps_htgm.htm
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 09 May 2014.
"Table A-15. Alternative Measures of Labor Underutilization." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 04 July
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 19 Mar. 2014.
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, 29 Mar. 2012. Web. 21 Oct. 2013.
Unemployment is a social problem in Australia, which affects a majority of society in many ways. Not only can it cause financial debt to families, but from there it can cause family breakdowns, social isolation, shame and it can even lead to violence. The Conflict theory perspective explains how unemployment can be caused by class and power by focusing on the inequality within society. The inequality sequentially predicts that the poorer members of society struggle to find employment, to be able to get education to find suitable employment and are.
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 30 Apr. 2014.
Every few years, countries experience an economic decline which is commonly referred to as a recession. In recent years the U.S. has been faced with overcoming the most devastating global economic hardships since the Great Depression. This period “a period of declining GDP, accompanied by lower real income and higher unemployment” has been referred to as the Great Recession (McConnell, 2012 p.G-30). This paper will cover the issues which led to the recession, discuss the strategies taken by the Government and Federal Reserve to alleviate the crisis, and look at the future outlook of the U.S. economy. By examining the nation’s economic struggles during this time period (2007-2009), it will conclude that the current macroeconomic situation deals with unemployment, which is a direct result of the recession.
"Labor Force Statistics." Bureau of Labor Statistics Data. N.p., n.d. Web. 21 Sept. 2012. .
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 20 May 2014.
The largest cause of unemployment can be attributed to recession. The term recession refers to the backward movement of the economy for a long period. People spend only when they have to. (Nagle 2009). With people spending less there would be less money in circulation therefore, enterprises would suffer financially and people would suffer too. This is so because recession reduces the fiscal bases of enterprises, forcing these enterprises to reduce their workforce through layoffs. These enterprises lay off their workers in order to cut the costs they incur in terms of wage and salary payments.
Employment status of the civilian noninstitutional population by age, sex, and race. (n.d.). U.S. Bureau of Labor Statistics. Retrieved February 2, 2014, from http://www.bls.gov/cps/cpsaat03.htm
There are a multitudinous number of both economic and social difficulties associated with unemployment. One fundamental reason why the government particularly stresses on reducing unemployment levels is as a result it poses a great cost on the economy. Not only does it affect the economy, but also it poses a great threat towards the living standards of the unemployed people itself. This could lead to many receiving less or no income based on whether or not they receive unemployment welfare benefits from the government. Reduction in income, would lead to a less disposable inc...
Mouhammed, A. H. (2011). Important theories of unemployment and public policies. Journal of Applied Business and Economics, 12(5), 100-110.
"Summary." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 03 Feb. 2014.
Unfortunately, there are many Americans out of work in today’s current declining economy. Unemployment can be defined as a person who is out of work involuntary, not by choice. These people are looking jobs and available to start work. Being unemployed can be disheartening and deciding what the next step is can be challenging. Underemployed can be described as being inadequately employed, such as a low-paying job that requires fewer skills than one possess. (Daly, Hobijn, and Kwok 2015) Making ends meet can be difficult for one who has been affected by this economy over the past few years. America still has a high unemployment rate since the decline of the current job market. And many Americans are struggling to establish the skills needed for employment, or the underemployed are force to lower they skill to make a profit. America’s economic status has force the underemployed and unemployed to make ends meet with the current jobs available. And last but not least some have also utilized these difficult times to venture into new discoveries to make life hassle free. So, we wonder is Americans giving up in today’s economy or do they settle for lower end job to establish a steady income to make ends.