Employment - Research Paper Example

Summary

The tough economic situation, led to the country registering the highest unemployment rate, which has left several people without their jobs, and it is still rising in an alarming rate. The…

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Subject: Macro & Microeconomics
Type: Research Paper
Level: College
Pages: 4 (1000 words)
Downloads: 1
Author: aliyahfunk

Extract of sample "Employment"

Download file to see previous pages Unemployment has various effects on the economy and on people, which has caused substantial problems to wellbeing of the nation.
According to U.S. Bureau of Labor Statistics, unemployment has serious effects on an individual’s emotional and sociological condition. Employment is a shunned upon the issue in today society. Therefore, those that are unemployed undergo past several societal changes that may affect their sociological state of mind. The U.S society views those that are unemployed as slackers and hardly empathizes with the jobless people. The unemployed persons go through the pain of knowing that, they have no job themselves, while on the same time, having to face the lack of ability to protect this fact, from the environment surrounding them (Strand, Novo and Hammarstrom 1). When one falls deeply in this situation the entire state of mind can be damaged. Some even consider the unemployed as a burden to the country. However, the unemployed people work as harder as the employed people to upkeep themselves only that they do not have a recognized job. The eventual effects of being unemployed become so detrimental that the unemployed face-losing essential parts of their lives. Some lose their cars, home, and even families.
Unemployment has an impact on society as a whole. The unemployed people are capable of making a significant contribution to the public, but they are incapable of doing so because of their unfortunate circumstances. This has mandated the U.S government to disburse unemployment settlement to the unemployment leading to the straining of the government budget. The government is in turn forced to borrow from organizations such as the World Bank to have enough budget funds to make such payments, as currently unemployment is on the increase (U.S. Bureau of Labor Statistics).
The experience of unemployment causes long-term consequences; both amplified probability of potential unemployment and lesser ...Download file to see next pagesRead More

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Employment - Research Paper Example

Extract of sample "Employment"

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