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Unemployment in the New York City - Essay Example

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This essay describes the greatest challenge and threat currently observed in New York, one of the most prominent and promising cities of the world. As the threat of unemployment has been chronic in New York City’s socio-demography over past few years…
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Unemployment in the New York City
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"Unemployment in the New York City"

, engineering and mathematics backgrounds in the year 2011, while in the fields of social sciences and humanities, a substantial proportion of 43,654 students gained the degree. All the data and statistics reportedly assure that the threat for unemployment in the city is potent and acute and there are myriad socio-economic reasons for this vacuum in the job scenario of the New York City (Hutchinson, 2013). Reasons for unemployment growth in New York Some of the major reasons of shrinking job opportunities in and around the New York City are correlated with the major fall in the hiring for manufacturing sectors. High wages in the tech based professions have also contributed to demotivated young employees to take many professional courses, which in turn has been creating a pressure on the tech based jobs, hiring very less people now-a-days. A pressure of the low waged IT labors and professionals from the third world nations are also limiting the scope of the local people in the most sorted and wanted sectors of the ITS and ITES. It is also noteworthy in this regard that the pressure of the immigration over the entire United States of America remains at a constant level or at times likely more in the case of the jobs and resurging vacancies in the New York City implying that governmental policy measures have been somewhat ineffective in dealing with the issue to the best possible extent (Hutchinson, 2013; McGeehan, 2013). Recommendations to solve the issue There are several ways through which the job vacancy and the unemployment threat currently persisting in the New York City can be mitigated. A true collaboration of the public and private sectors can bridge the differences well. On one hand, where government needs to think about creating vacancies in their payroll and...
This essay describes the greatest challenge and threat of unemployment, which the United States of America is likely to face in the coming years. The most alarming evidence to the fact is currently observed in New York, one of the most prominent and promising cities of the world. The jobless youth and mass are so large in number that a considerable rise in the employment, even more than the national rise, could not revitalize the scenario.
Correspondingly, the “NYC Jobs Blue Print” displays a statistical record advocating that almost 73,000 jobs remained unfulfilled in October 2013. On the contrary to this statistics, 80% of the New Yorkers have remained jobless over the span of a year. And in the past decades, as reports the Daily News, 100,000 middle waged jobs have been lost, while only 57% of the city’s work-age population is currently recorded as employed.
Some of the major reasons of shrinking job opportunities in and around the New York City are correlated with the major fall in the hiring for manufacturing sectors. High wages in the tech based professions have also contributed to demotivated young employees to take many professional courses, which in turn has been creating a pressure on the tech based jobs, hiring very less people now-a-days.
The government should focus on bringing more and more industries into the city to generate work vacancies. Inclusion of the manufacturing sector into the job scenario of New York City would also be quite effective and instrumental in boosting job vacancies in the city. Read More
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