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The rapid rise in population that outstrips the available resources has been blamed for the unemployment issue in the United States. The government is trying to curb the unemployment through expansion of the economy and creation of more jobs. The problem of unemployment seems to intensify mainly due to the rise in population particularly in urban areas. The expansion of businesses and the direct investment by the government in the entrepreneurship programs tends to do little to eradicate the issue of unemployment. Unemployment tends to magnify during the times of recession or depression characterized by a shrink in the economy.
Unemployment remains a tough issue affecting the United States, particularly among the young people. There is a large number of learned people in the United States but they hardly secure a job due to the scarcity of employment opportunities. According to the BLS household survey (2015), the US unemployment rate rose by 0.2 percentage points in June 2015 to 5.3%. Unemployment has remained relatively high since 2009 and this is causing a huge setback to economic growth in the country. Companies have been adopting technology thus doing away with the relatively costly human labor. The rise of technology like completers has replaced human labor thus laying off the workers (Harvey 15). The issue of unemployment will continue to inflict the United States economy due to the uncontrolled adoption of technology.
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To a great extent, this notion has held true. In 2008, however, the United States experienced its greatest recession since the 1929 Great Depression. The most notable fallout of this recession has been the rising unemployment rate.
The most affected, according to research, are the youths who find themselves idle for lack of jobs after completion of their studies. The rate of unemployment is a measure of the unemployment prevalence, which is calculated as a percentage by dividing the number of unemployed people by the total number of those in employment.
Social costs of unemployment emanate from psychological effects; for instance, unemployed people have high levels of frustration and feeling of anger. In fact, Lauer and Lauer (2011) explained that there is a significant relationship between violence and unemployment.
Name: Instructor: Course: Date: Wealth disparity and effects of long-term Unemployment on the United States Economy Summary of the news article In the article on New York times “The Jobless Trap” by Paul Krugman dated April 21, 2013, The US employment situation is explored and the wealth disparity consequence this has on the economy is equally discussed.
Immigrant inflow in the US is about 1.25 million people per year which accounts for 40% of the growth annually. About 35-40% are undocumented immigrants from Mexico and Central America with low education levels and limited English skills. The period between 1901 and 1930 was known as the classic era when there was mass European immigration.
The author of the essay touches upon one of the burning issues in the modern world - the unemployment. In terms of this issue, the author mentions the article “Corona Rose. “Want job creation?” which discusses the current unemployment dilemma in the United States and how small businesses can contribute to spur job creation in America.
However, unemployed people are more likely to possess less endowment of entrepreneurial talent and human capital for the set-up and sustenance of a new business, which suggests an association between high rates of unemployment and low
This situation greatly affected the citizens of the American households being the most affected. Other sectors that were affected by the unemployment owing to the global financial crisis were a decline in stock market and the housing
This essay analyzes how it's important to work on team, what kind of skill have to use, what problems could happen. It's critical essay shows different sides of collection work, where each member responsable for whole organization.
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