...United States of Unemployment There is an epidemic spreading throughout the United States that most people hear about but don’t quite understand the effects it has as a macroeconomic phenomenon—unemployment. According to the latest figures from the Bureau of Labor and Statistics (BLS) the unemployment rate is currently 9.1 percent. From 1948 to 2010 the average unemployment was a little over 5 percent, with an all time high of 10.8 percent. We are currently only a little under 2 percent from the highest unemployment in over a half century. The unemployment rate at 9.1 percent probably seems low to the average American, but it’s not. To put that into perspective, it’s around 14 million people. If the unemployed were a country, the 14 million Americans would be the 68th largest country in the world, bigger than the population of Greece or Portugal (each of which has 10.8 million people) and more than twice the population of Norway (4.7 million). It’s important we find out the different types of unemployment, the causes of unemployment, and the effect is has on the economy. To learn more about the causes and effects of unemployment we must first determine the different types of unemployment. There are three different major types of unemployment; frictional, structural and cyclical. In the case of frictional unemployment, people are only temporarily unemployed due to a transition. Structural unemployment occurs when there aren't enough jobs to support the people who are...
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...Unemployment is a major issue in today’s society. Do you know what causes unemployment? Do you know who it affects? I do, let me tell you. Unemployment effects everyone, whether it be directly or indirectly. Even if you are employed, the unemployment of people in your community can hit home. As a public relations specialist I work with people on a daily basis to try to get them the assistance they need so that they can get better jobs. There are several causes of unemployment such as recessions, disability, attitude towards employers, willingness to work, employee values, and discriminating factors in the place of work such as age, class, ethnicity, and race. All of these factors and more play a role in the unemployment in today’s society. When you see the downward spiral of joblessness if you are a business owner hire someone to help, if you have connections to great companies let someone know so that we can help decrease the unemployment rate. I hope to supply you with the causes and effects unemployment has on individuals and their families. Discriminating factors in the work place causes unemployment are very much present; it may come in many different ways. They may terminate you from your job because of your age, a lot of employers think that because you have gotten older you may not be able to perform your job as good as you did back when you where younger so they hire a younger individual to keep the work environment young and hip. Another discriminating factor...
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...The Effects of Unemployment Roderick C. LaGrone COM 150 January 28, 2011 Holly McCusker The Effects of Unemployment Over the past ten years there has been a great shift in society’s employment system. Corporate America has taken major cutbacks in the working labor department that has left many citizens unemployed and destitute. Anger and concern over layoffs, wage unproductivity, declining benefits, and the movement of jobs overseas has left citizens with harsh and undesirable views of the actions and motivations of Corporate America. With the unemployment rate on a downward slope, American citizens have become distressed which has resulted in emotional, social, and, economic hardships. Even though the unemployment rate in the decline many families are still in distress because of the social and economic problems caused widespread company layoffs. Can Corporate America offer our families a better way of life ? The unemployment rate has been on a slow decline over the past few months which indicate a slow improvement in the job market. Even though the decline is a positive indication, many companies are not hiring at an alarming rate. Based on Bureau of Labor Statistics (BLS) the number of unemployed persons decreased by 556,000 to 14.5 million in December, and the unemployment rate dropped to 9.4 percent. Over the years, these measures were down from 15.2 million and 9.9 percent, respectively. As the economy continues to slowly recover many Americans are still trying...
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...between Unemployment and Inflation and to see if the Phillips curve relationship is correct. In doing so I will study the causes and effects of inflation and unemployment along with inflation and unemployment figures from the last few years. Inflation is usually defined as a sustained increase in the general price level. We measure it as the annual percentage increase in prices. There are generally two types of inflation- Cost push and Demand pull. Demand pull Inflation occurs when there is to much spending in the economy. When consumers wish to spend money on goods and services increases faster than the supply of goods and services, or when demand exceeds supply, then prices are pulled upwards. The increase in demand causes it to shift outwards but because supply cannot keep up with demand prices go up as well. This is shown in the diagram below: For this type of inflation to occur people in general need to have a lot of money if there demand for general spending is high. Therefore this type of inflation generally occurs when there is a low unemployment rate for the majority of people must have some sort of income. Cost push inflation happens when firms costs go up. To maintain their profit margins, firms then need to put their prices up. In other words cost increases have pushed inflation up. Cost-push inflation may happen for various reasons. Wage increases - wages are a major proportion of costs for many firms and so if wages are increasing, this may well cause cost-push...
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...Thesis statement: Research indicates that there is drastic increase of crime rates due to the high levels of unemployment, harsh economic conditions population density. Annotated Bibliography Fougère, D., Kramarz, F., & Pouget, J. (2009). Youth Unemployment and Crime in France. Journal Of The European Economic Association, 7(5), 909-938 Fougère, Kramarz, & Pouget have argued that when there is a large number of youths who are unemployed, the country may have increased criminal activities as most of them are idle and thus, they must find different ways in which they can earn a living to cater for their needs. Additionally, the economic also tends to affect the image of the country in terms of crime. The article seems to have facts that are accurate. This is because the author has presented different examples in order to support his arguments.. This author is a credible source because has a PhD in Economics from Univeriste Paris and he is a Professor at Ensae University. The article supports the statistics in the relation between crime rate rise and unemployment. Edmark, K. (2005). Unemployment and Crime: Is There a Connection?. Scandinavian Journal Of Economics, 107(2), 353-373. The main aim of the above article is to address whether there are any connection between the rate of unemployment and crimes. According to Edmark, lack of job may result in a higher rate of criminal acts. This is due to the fact that most of the people seem to be jobless and thus, they may attempt...
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...Findings………………………………………………………………………………………………………………………………… Recommendation and Implementation Strategy…………………………………………………………………… Bibliography…………………………………………………………………………………………………………………………… Appendix………………………………………………………………………………………………………………………………. Acknowledgement They are a few persons the researcher owes a great deal of gratitude for the successful completion of this study. Firstly, the researcher would like to share her gratitude to the residence of Fellowship for their cooperation and participation. Secondly, a special thanks to the researcher’s father for his constant encouragement and for being their every step along the way. Finally, the researcher would like to thank her Social Studies teacher, Miss Raymond for her guidance throughout this study. Introduction Unemployment is a social issue that have been a plague in the community of Fellowship. This is...
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...Relationship between crime level and unemployment. This paper will focus on the relationship between unemployment and crime and their ability to reflect the labor market crime correlation. A balanced economic growth of the economy is the ideal way of development when all utilities work in order to provide healthy business growth. One of the disbalance factors of the market economy is unemployment. In case there are errors it creates conflict situations in the economy such as unprecedented actions, random resource movement all this decrease economic efficiency and as a result business activity. Increased economic disproportions create economic instability that decline production and therefore unemployment rises. It damages living standards of unemployed and working people, as oversupply of labour causes wage reduction. It causes a danger for social conflicts that damages even more incentive for business activity and causes capital outflow. Unemployment can take place in the healthy economic developments, so called natural unemployment can be within 4-5%. In the modern economic environment employment can be effective only when unemployment is close to the natural level which can never be equal to zero. Labour is a product and the price of the labour on the market is under the influence of supply and demand. The relationship between economic conditions, property crime and other types of crime like violence is complicated. The existence of positive correlation between low...
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...the ill effects of unemployment, little is being done to prevent it from occurring in the future. This paper uses research from several employment training programs to help investigate what can be done to prevent teenagers and young adults from behaving unprofessionally in early jobs which could result in lack of desire to hire them in the future. Many of these studies have shown that a great deal of the issues that arise in employees are due to a lack of respect and a bad attitude. This paper proposes a set of courses be provided in the community to help better prepare teenagers and young adults for the workplace by teaching not only basic work skills but social skills as well. Blood, Sweat, and Tears or Just Little Elbow Grease? Bob gathers his courage and takes a deep breath. This is the big “make-it or break-it” moment. He walks up to the lady he has been nervous about meeting for weeks. They talk, he leaves his number, and they part ways. Weeks later, Bob is still waiting to hear back from her, wondering where he went wrong. Little does Bob know, the biggest mistake he made happened years ago. Bob was not asking a girl out on a date; he was applying for a job. Unemployment is a growing issue in America today, and unfortunately, one big reason for not being hired is past performance in previous jobs. With classes that specialize in training high school and college students for the workplace, communities can help reduce future unemployment rates. Unemployment, regrettably...
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...Cause and Effects on Unemployment Tyrelle Leaks English115 Prof Ludvigsen August 30, 2015 Unemployment can occurs when a person who is actively searching for a job and is unable to find work. It can also be from a person being laid off from a job. This can affect an individual and their family because you need an income to make a living. There are many reasons why someone who is able and wants to work can be unemployed. It starts with your education because without a high school diploma or GED, It’s hard to get employed. Performance issues which a person can lack the skills to perform their duties on the job. Economic condition is another reason why a person becomes unemployed. Mismatch between available workers and position to be filled can affect employment as well. Lack of experience also takes a big part of staying employed. In every society, there will always be a number of people who are unemployed. The reason why is because of the fact that there are not enough jobs for everyone. It really depends on the individual and their skills. There are many reasons on why people are unemployed. * Frictional Unemployment * Structural Unemployment * Classical or Real Wage Unemployment * Voluntary Unemployment * Demand Deficient or “Cyclical Unemployment” * Debate on Demand Deficient Unemployment Frictional unemployment occurs from the inevitable time delays in finding new employment. For example, if you graduated from college, you can’t necessarily...
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...MacroEconomics Diagrams and Definitions What is macroeconomics? • Macroeconomics is the study of a national economy. Macroeconomic Goals Income Distribution Growth External Stability Employment Price Stability Two Sector Circular Flow of Income Monetary Flow Households Expenditure on Goods and Services (E) Real Flow Good and Services = Output (O) Factors of Production Wages, Rent and Profits (Y) E=O=Y Firms 4 Four Sector Circular Flow of Income Leakages (L) Saving (S) Imports (M) Taxes (T) O=E=Y Sum J = Sum L Income Injections (J) Households Investments (I) Exports (X) Expenditure Government Spending (G) Firms 5 Measuring National Income Output Method Income Method Households Good and Services Factors of Production Expenditure on Goods and Services Wages, Rent and Profits Expenditure Method Firms 6 How is national income measured? Employment income + Rental income + Profits + Interest = National Income How is national output measured? Value of goods and services = National Output How is national expenditure measured? Household consumption (C) + Firms’ investment (I) + Government spending (G) + Exports - Imports (X-M) = National Expenditure What is GDP? National Expenditure = National Income = National Output = Gross Domestic Product GDP • GDP = Gross Domestic Product = Total Value of all Spending in an Economy = The Total Value of all...
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...Unemployment has always been considered as a real threat to the economic well-being of the country. In Europe, after World War II, the unemployment rate was very low. Since the seventies of the 20th century, the situation has begun to change and unemployment is rising, reaching its peak point in 1993 year, when the average unemployment rate of European countries was about 11%. Due to global financial crisis, which transformed into sovereign debt crisis in the Eurozone, nowadays, the high unemployment rate in the EU has become an ordinary phenomenon, but a particularly acute problem of unemployment is in Spain, where 26.2% of the population are unemployed (Eurostat, 2013). Although, crisis played a considerable role in this situation, there are also other national features of Spain that led to high unemployment, which if left unattended, will lead to disastrous results. To begin with, it is pertinent to name the causes of the high unemployment rate in Spain. One of the main causes of high unemployment in Spain is a debt crisis. Appeared in United States due to “mortgage bubble”, the financial crisis has had a destructive effect on the banking system, reducing credit supply and increasing the cost of financing. In Spain, the economic growth during the pre-crisis period was maintained by two factors: considerable expansion of credit and large immigration flow. These economic drivers were nullified by the crisis, and starting from 2007, economic growth was slowed. From the second...
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...THE MAIN CAUSES AND EFFECTS OF HOMELESSNESS OUTLINE THESIS: According to the U.S. Conference of Mayors’ recent survey of homelessness in twenty-three cities, homelessness is one of the most persistent problems that U.S. citizens have faced in recent times. Many factors have been diagnosed as the causes of homelessness. Advanced research done by many students and organizations have however proven that domestic violence, lack of affordable decent housing, and unemployment are the main causes of homelessness among people. These causes and their corresponding effects tend to make people miserable for most parts of their lives. I. Homelessness A. Increased rate in this problem B. Examples of situations of homelessness C. Main causes of this dilemma II. Domestic violence as one of the main causes of homelessness A. Various forms of domestic violence B. Main victims of this demeaning act C. Effects on domestic violence on victims III. Lack of decent, affordable housing as a contributing factor A. Continuous increase in rent as a main reason for this situation B. Eviction of tenants due to inability to afford rent C. The Impact of unaffordable housing on citizens IV. Unemployment as a major cause of homelessness. A. Rate of unemployment in our society B. The contribution of unemployment to the problem of homelessness C. Consequences of natural disasters on victims V. Conclusion A. Consequences of homelessness in the lives of people B. Possible solutions...
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...University of central Punjab Project title: Unemployment in Pakistan Assigned by: Rizwan Pasha Assigned to: Ali Haider 0043 Abrar Hussain 0057 Waleed Adil 0066 MBA 1-B Definition of 'Unemployment' Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force. Unemployment in Pakistan: It is a universal problem, even the most advanced & prosperous countries of the world like USA, Britain & Japan are confronted with this problem. As a matter of fact, it is impossible to provide jobs to all. Honestly speaking, this problem exists in our country in an alarming degree. It is a fact that one person out of ten is out of work in Pakistan. The problem is serious in our country because we have unemployment among all the sections of our society among the educated & uneducated, among the skilled & unskilled. It is most unfortunate that highly qualified & professional persons like doctors, engineers & teachers are without jobs. It is painful to see them wandering from door to door in search of jobs. Many of them have gone abroad and are serving the people of other countries. It is estimated that more than a million people are entering the...
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...deeply the material taught. In no way should you assume that the level of difficulty of the multiple- choice questions shown here is the same as that of the questions to be given in the exam. 1. Expansionary monetary policy (a) tends to lead to an appreciation of a nation's currency. (b) usually has no effect on a currency's exchange value. (c) tends to lead to a depreciation of the currencies of other nations. (d) tends to lead to a depreciation of a nation's currency. 2. If the number of people classified as unemployed is 20,000 and the number of people classified as employed is 230,000, what is the unemployment rate? (a) 8% (b) 8.7% (c) 9.2% (d) 11.5% 3. It is often true that as the economy begins to recover from a recession the unemployment rate rises. Which of the following statements would be the best explanation for this? (a) The unemployment rate would rise because as the economy initially recovers from a recession the demand for goods and services falls, so the demand for workers falls. (b) As the economy begins to recover from a recession, workers who were previously discouraged about their chances of finding a job begin to look for work again. (c) The unemployment rate seems to rise as the economy begins to recover from a recession because of errors in the way the data are collected. (d) As the economy initially recovers from a recession, firms do not immediately increase the number of workers they hire. Firms wait to hire more individuals until they are convinced...
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...deeply the material taught. In no way should you assume that the level of difficulty of the multiple- choice questions shown here is the same as that of the questions to be given in the exam. 1. Expansionary monetary policy (a) tends to lead to an appreciation of a nation's currency. (b) usually has no effect on a currency's exchange value. (c) tends to lead to a depreciation of the currencies of other nations. (d) tends to lead to a depreciation of a nation's currency. 2. If the number of people classified as unemployed is 20,000 and the number of people classified as employed is 230,000, what is the unemployment rate? (a) 8% (b) 8.7% (c) 9.2% (d) 11.5% 3. It is often true that as the economy begins to recover from a recession the unemployment rate rises. Which of the following statements would be the best explanation for this? (a) The unemployment rate would rise because as the economy initially recovers from a recession the demand for goods and services falls, so the demand for workers falls. (b) As the economy begins to recover from a recession, workers who were previously discouraged about their chances of finding a job begin to look for work again. (c) The unemployment rate seems to rise as the economy begins to recover from a recession because of errors in the way the data are collected. (d) As the economy initially recovers from a recession, firms do not immediately increase the number of workers they hire. Firms wait to hire more individuals until they are convinced...
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