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Unemployment in the United States - Term Paper Example

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In the paper “Unemployment in the United States” the author discusses the rate of unemployment. The United States is one of the advanced states economically and is known as “Super Power”. People living all around the globe desire to find a job there…
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Unemployment in the United States
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Download file to see previous pages The US in the past few years was termed as the hub for employment globally and its employment rate was growing. But whenever the inflation strikes it affect the United States and the rate of employment badly due to which many individuals become jobless and thus the rate of unemployment increases.
US constitutes one of the biggest economy of the world and that is the reason that many of the individuals from all over the world are attracted towards the USA. Use your common sense, that if a greater number of population is heading towards the United States then how many will be employed? This is a big question. USA since 1950 is working hard to increase the number of jobs every year. The average rate of growth of jobs is 5-7% each year. But still the rate of unemployment is increasing especially at the time when inflation occurs. There are no. of the causes that increase the rate of unemployment. Let us discuss a few of them:
Due to the advancement in technology businesses are becoming more and more software, machinery and robot oriented. This advancement causes a low number of defects in the work and due to this many firms make layoffs or even for the individuals that give rise to the unemployment.
As the demand of consumers for the purchase of goods and services falls, the companies producing the respected goods and services have to slow down their operations which causes layoffs or firing people due to low expected profits.
When the individuals seeking good jobs migrate from villages or less developed countries they form a competitive market where jobs becomes less and no. of people seeking jobs becomes more. This situation causes unemployment. ...Download file to see next pagesRead More
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