Unemployment is one of the major social problems affecting many countries in the world, US being no exception. Unemployment, also referred to as joblessness, is a situation where people lack jobs yet are actively searching for work…
Download file to see previous pages...
Unemployment in the United States
Research shows that many countries experience high unemployment rates during recession periods. This kind of scenario was experienced in 2011, according to Yates (1994), who reveals that more than 200 million individuals across the globe found themselves out of employment because of dwindling economies. In spite of the fact that the US is one of the most developed countries in the world with a relatively stable economy, it has a considerable rate of unemployment among its citizens. This issue has not always gone well with the US citizens and politicians who use it as a tool to fight their opponents during political campaigns. The objective of this paper is to explore the problem of unemployment in the United States. Despite being the world’s superpower, there are so many people in the US who are unemployed. Wassel (2011) reveals that there are about 13.9 million American who are jobless. He notes that this figure only accounts for those looking for jobs. Wassel goes on to justify the magnitude by arguing that there are more people who are unemployed in the US than the total population of people in the state of Illinois, the fifth largest state in the country. In fact, he translates this unemployment rate to mean that if they were to be a country, then the unemployed in the US would be regarded as the 68th largest country in the world, which would be bigger than population of Portugal and Greece, which stands at 10.8 million.
This high unemployment rates experienced in the US has mainly been blamed on the declining economic growth that has been experienced in the US following global financial crisis....
Nevertheless, the US government have been struggling to come up with polices to help boost the economy so that many job opportunities can be created for the unemployed in the US. Indeed this has seen a decline in the unemployment rate since President Barack Obama introduced an economic stimulus package. It is also noted that historically since 1948 till 2012 the rate of unemployment in the US averaged 5.79% and at one time reached the unprecedented high of 10.80% in 1982, with a record low of 2.50% in May 1953. However, the most recent economic survey shows that the rate of unemployment in the US has been on the decline and stood at 8.10% in August 2012 down from 8.30% in July and 9.10% in the year 2011 according to the US economic survey 2012 (Yates, 1994). Data from the Bureau of Labor Statistics on August 2012 also shows varying rates of unemployment by states and districts in the US. The statistic shows that the state of Nevada leads the pack with an unemployment rate of 12.0% followed closely by the Rhode Island at 10.8, California 10.7, South Carolina 9.6., New Jersey 9.8 and North Carolina 9.6. The states with the lowest rates of unemployment are North Dakota 3.0%, Nebraska 4.0%, South Dakota 4.4% and Oklahoma 4.9 % (The Washington Post, 2012). Leading causes of unemployment in the US Several reasons have been singled out as the leading causes of unemployment in the US according to economists. One such is the fact that there are fewer job openings taking place in the US. Jacob (2011) notes that, after the recent financial crisis, a number of new job openings declined to below 3 million jobs compared to over 4.5 million new job openings which was the case before the financial crisis hit the US and the entire world. This meant that new
...Download file to see next pagesRead More
Cite this document
(“Unemployment in The United States Research Paper”, n.d.)
Retrieved de https://studentshare.org/sociology/1457317-unemployment-in-the-united-states
(Unemployment in The United States Research Paper)
“Unemployment in The United States Research Paper”, n.d. https://studentshare.org/sociology/1457317-unemployment-in-the-united-states.
United States Economy
We are going to look at the industries that have become additionally important in the United State economy and how the government is taking over the share of the nation’s output. The growth of people’s income, the distribution of people’s income among many more will be addressed.
Individuals differ in certain unmeasured variables that, if not properly controlled, have influential impact on levels of unemployment. There exists, however, no universally acceptable definition of unemployment so far because both employed and unemployed people worldwide are measured quite differently.
I have become a more responsible person since the birth of my son. I have to work hard now in order to support my family. Due to the rising unemployment in the United States which reached 8.9% in February 2011 it is imperative for me to keep my job (Tradingeconomics).
Today, unemployment is one of the leading economic challenges facing the United States of America. It has far-reaching impacts on the individual, society and the country’s economic growth. Definition and types of unemployment Unemployment refers to the situation of lack of gainful work engagements usually for a long period.
and continue to experience presently. If you are someone suffering from unemployment and struggling in the current job market, you know how awful it has gotten. If you are someone that has been fortunate enough to remain employed you certainly know someone that has been less fortunate.
In the United States, there is a rising problem of unemployment, which owes its existence to the presence of several factors, which include unemployment benefits. As a result, the United States Government needs to add
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.
The author of the paper investigates the problem of unemployment in the U.S. and Japan. Reportedly, by 2010, they were over 600,000 homeless persons and an additional 9.1 million were unemployed in the USA. On the other hand, Japan has the lowest unemployment rates standing at 3.5 percent as of November 2014.
ng to their study since the 2007 global financial meltdown, the figure had declined with a margin of 66%.In another study, it was established that there is an oversupply of labor whereas unemployment opportunities remain scarce due economic factors. In addition, some of the
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
5 Pages(1250 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Research Paper on topic Unemployment in The United States for FREE!