Unemployment in the United States - Essay Example

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From its inception,the United States has been regarded as a land of opportunity.Indeed,over the past two centuries millions of immigrants have flooded into the country seeking a better life.Perhaps the primary reason for their immigration has been the understanding that the country holds greater employment opportunities than in other areas. …
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Unemployment in the United States
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Unemployment in the United s From its inception, the United s has been regarded as a land of opportunity. Indeed, over the past two centuries millions of immigrants have flooded into the country seeking a better life. Perhaps the primary reason for their immigration has been the understanding that the country holds greater employment opportunities than in other areas. 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. This essay examines unemployment in the United States, how it is affecting our communities, and what is causing it. As noted, the 2008 recession has greatly contributed to unemployment in the country. Prior to the fallout of the housing crisis, foreign investment and domestic wages had reached high levels. The high levels of wealth in the country allowed businesses to expand and hiring to increase. With the recession this expansion ceased causing unemployment in the country to rise sharply. There has correspondingly been a great degree of fallout that has occurred as a result of this recession. The country is still facing a housing crisis, as foreclosure rates and home prices continue to drop. This places consumers and businesses in a cautious position. One also recognizes that the fallout of the American automobile industry accompanied the economic recession. This resulted in the great shrinking of this industry and the loss of many American jobs as foreign competitors invaded the United States market. In addition to concerns related to the recession, unemployment in the United States has been caused by a variety of general socio-cultural changes. With the rise of globalization in the XXI century, the United States has experienced increasing competition from abroad. While throughout the XX century the United States was a far-away economic leader, the contemporary world has witnessed increasing competition from countries such as China, India, and Latin America. Largely these countries are able to offer cheaper labor options resulting in much outsourcing of jobs that previously resided in the United States. In addition to outsourcing, the unemployment rate has been contributed to by rising population figures (Reasons For Unemployment In The US, 2011). Both from domestic births and immigration, the United States has consistently experienced population increases that have in many instances outpaced the growth of available jobs. Finally, technological advancements have contributed to rising unemployment rates in many industries. The rapid pace of technology is such that jobs that once required humans are many times replaced by computer or machine automation, resulting in an employment gap where there once was available jobs (Reasons For Unemployment In The US, 2011). There are a number of considerable effects of unemployment in the United States. Some of the most prominent effects are the increasing amounts of homeless people. Following the 2008 recession, 19 out of 25 cities saw an average 12 percent increase in homeless (Kumeh, 2009). The linkage between a loss of job and unemployment should be clear as individuals lacking gainful employment increasingly resort to living on the streets facing the reality of not being able to pay for their rent or mortgage. Another prominent effect of the high unemployment rates is the increasing amount of people on Medicaid. As a result of the recession, unemployment has risen by over 6.6% throughout the United States (Kumeh, 2009). While this is a telling statistic for the United States population, it also holds implications for the prosperity of the entire country as the raising amount of people on Medicaid also results in higher tax rates and a greater burden on the country. In addition to these specific concerns, one recognizes that there are a great amount of general qualitative fallouts that have occurred because of unemployment. Employment constitutes one of the hallmarks of a healthy and structured lifestyle. It contributes to a sense of community and wellbeing. Continued and long-term unemployment rates have a negative effect on these community structures, as well as the mental health of the citizenry. These reasons are perhaps the most central to the pressing need to improve employment rates within the United States. In conclusion, this essay has examined unemployment in the United States. Within this spectrum of investigation, it has demonstrated that there are a variety of contributing elements to the unemployment rate in the United States. Additionally, the effects of unemployment are examined. Ultimately, the essay demonstrates that unemployment is not simply a financial problem, but a deep-rooted concern that strikes to the heart of communities. References Kumeh, T. (2009). The Ripple Effects of Unemployment in America. Retrieved from Reasons For Unemployment In The US. (2011). Retrieved from Read More
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