...Reducing Unemployment and Underemployment in the United States Name Institutional Affiliation Reducing Unemployment and Underemployment in the United States Reducing Unemployment Unemployment and underemployment are one of the main economic concern in many countries or states in the world today. It is a biting problem in many economies and governments are always seeking a new way of solving this problem (Miller, 2011). According to the Bureau of Labor Statistics, unemployment is a situation where a person does not have a job, but have actively searched in the past four weeks (Clague, 2009). It also includes people who have been laid off for than seven days. There are many reasons why people end up being unemployed. Understanding the reasons for unemployment is essential in coming up with a solution to the high rate of unemployment in the United States. The most important causes of unemployment are structural, cyclical and seasonal unemployment (Borts, 2010). The United States has experienced approximately 11 recessions since 1948 when the postwar ended. The different government regimes have tried various methods over the years to turn around recessions and reduce the high rates of unemployment. Some government regimes have embarked on tax while others have embarked on stimulus spending. Unemployment rate in America remained high at 7.6 % in June 2013 (Clague, 2009). The Bureau of Labor Statists reports on all matters relating to unemployment in the United States. In America...
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...Topic : Identify the effects of unemployment among the fresh graduates in Malaysia. Problem statement Unemployment has been a serious problem facing in our country especially among the fresh graduates. By some estimation, the increase of Malaysian populations within last one decade causes the increased amount of Malaysian labour force. This may results to the in unemployment that considered as damaging issue to the national economy because high unemployment may reduce the aggregate income and give the negative impact on the government. It will slow down the economic development progress of Malaysia. Other factor that affects labour market is technology, when technology rises, the labour market will drop. Thus, many people loss job because of new technology arise, completely for fresh graduates that seeking their job could not get the opportunity and will turn to increasing in unemployment. The best solution to overcome this problem can be implementing the set of mind to be more creative and innovative person rather than depending to the job that provided by government or private sectors such as create their own business as well as be an entrepreneur. Other than that, the problem can be settled by not too choosy in making decision to get a job, even it is not related to the qualification but must consider as started from below is much better. The purposes of this study are: 1. To investigates the effects of unemployment among fresh graduates. 2. To overcome...
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...Unemployment in Bosnia and Herzegovina has reached a not so enviable level of 57 % . At the beginning of the year 2013 the records of employment were registered at 553,501 unemployed . Every month, the number of unemployed persons increased by 0.89 %. The fact that I have to mention is that the unemployment rate (official unemployment rate) in Greece is 22 % , which is struggling with the recession . One of the devastating fact is that 262,996 unemployed people or 49.93 % of job seekers are women. Is sexism in question? A fear that we may have a woman who will take a job, be a leader ? Additionally, highest unemployment rate is among young people and it is at 67 %, which is as much as 9 % more than in the previous five years. I think that the particularly troubling fact is that every year it is recorded only a continuation of the negative trend when it comes to the position of young people who are getting worse, and the problems are only deeper. The high rate and the level of youth unemployment has lasting negative consequences for the economy. Young people are choosing to leave Bosnia and Herzegovina every year. Statistics show that 37% of young people will leave Bosnia and Herzegovina, while 10 % have already taken concrete steps to leave out country. On step to hunger is 60 % of the BiH population. With the current level of economic activity, I think that there will be no improvement in the situation until the year 2017. This is leading to additional pressure, especially...
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...energy in the investments, training programs for the employees, assisting and providing loans for the educational part to improve its ability of providing new employments with educational background, spending more on the infrastructure constructions, rewarding and compensating the employees. Liberal back in history were always on the labour unions side and they supported the protectionist trade laws. Liberals does not care a lot about the budget deflect and loans, they also have a good tolerance with the changing in the currency, and this is to make a better competition between traders since the devaluation of the currency makes the exports comparatively cheaper. During the slackness period the liberals suggested solutions for the unemployment problem using Keynesian economics, which brought the idea of forcing the government to spend when the private sector cannot or not able to support adequate levels of economic expansion. Conservatism and its position On the other hand, conservatism which is a political and social philosophy that simply believes that there is something in life worth redeeming and they also think that the role if governments should be to provide the citizens the freedom they need to achieve their own goals. Conservatives in the United States believe in and support the free market solutions, and they suggest to reduce the government rules and restriction of the private job areas. Moreover, they do not agree with the government in terms of motivation...
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...Today, a global recession has become a biggest threat to world. Due to this global recession, it is a macroeconomics crisis. In last few years, unemployment has become a serious and top most problem in many part of the world. Also increased globalizations have put more employee job into risk. The under developing countries like India, china are facing their bad time. Emerging economies like China and India are affected by the negative influence of the US Subprime Market Crisis. By reducing the demand for labor we can bring economic downturn, but it tends to increase the unemployment level in the formal sector and bring the wages charge down. It means the poverty rate is increasing and as well as the unemployment is also increases at the same rate. Such both effects try to tend the unemployment and poverty in formal economics. Thus recession works into two ways, directly or indirectly. Directly, in this scenario it decreases the wages of employees and it creates more jobless Is this essay helpful? Join OPPapers to read more and access more than 600,000 just like it! get better grades employees it means more number of poor in formal economy. In directly in this scenario it brings wages down those already employed in formal economy. In other word when the economy is passing through in a recession scenario the GDP rate will be high. The goods, service and product demand would be low. When demand of the product would be low the consumer expenditure also will be low. When demand...
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...also had a negative impact. “the rate of unemployment or underemployment was highest for teens (aged 16-19) who were African American (60%) or Hispanic(52%) compared to their White counterparts (35%” (Youth Employment Matters, 3). When you look at these statistics, you may wonder how or why these numbers are so drastically different. Well I feel as though the real problem isn’t getting job, so much as it is the youth being malinformed. I mean most peers assume that just saying and attempting to get a job will get them said job. Well that really isn’t going to happen is it? and i’m sure it won’t help bring the numbers of unemployment for black and hispanic youth down either. Because i’m black youth myself, I see the differences in the African Americans and Hispanics that actually have jobs and those that don’t. The ones that usually have some type of family structured support, tend to have an easier time accessing information or getting help on Wegner 2 how to prepare for a job interview or how to have proper work etiquette. The youth that doesn’t have jobs are typically the one’s who are unmotivated and see “no purpose in wasting one's life away with job”(Tyler Wegner, Conversation with my parents). well they most likely weren’t introduced to the idea of working or going to school for higher education until they were much older and set in there unproductive ways. I believe if we are ever to truly separate this gap of unemployment it will start at school and at a much younger...
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...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. Many different variations of the unemployment rate exist with different definitions concerning who is an "unemployed person" and who is in the "labor force." For example, the U.S. Bureau of Labor Statistics' commonly cites the "U-3" unemployment rate as the official unemployment rate but this definition of unemployment does not include unemployed workers who have become discouraged by a tough labor market and are no longer looking for work. The various schools of economic thought differ on their explanation of the cause of unemployment. Keynesian economics proposes that there is a "natural rate" of unemployment because the skills of laborers and the positions available are slightly out of sync even under the best economic conditions. Neoclassical economics postulates that the labor market is efficient if left alone, but that various interventions, such a minimum wage laws and unionization, put supply and demand out of balance. The nature of unemployment differs according to the level of economic development in a country. India is an underdeveloped economy. The following types of unemployment exist in India: 1. Rural Unemployment: India is...
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...Unemployment Name: Institution: Date: Unemployment refers to the situation which occurs when individuals who are actively seeking jobs are unable to find them (Brophy, 2010). On the other hand, unemployment rate refers to the prevalence of unemployment. Unemployment is normally used as a measure of the state of the economy. Before the industrial revolution in the United States, the production of goods was not systemized. Peasants produced goods for their own benefit and for that of their landlords. For this reason, they were not paid and could not be employed or unemployed. There was therefore no unemployment. However, the industrial revolution began which required the employment system (Maddison, 1982). Because of the search for cheap labor, industrial revolution brought about labor exploitation and unemployment. Unemployment in the United States started in the year 2008 when the private sector fell into a depression. This was as a result of the global recession. Since then, Unemployment has been an issue to date (Brophy, 2010). Unemployment is considered to be the main cause of poverty. As a result, people may not afford necessities which in turn lead to various businesses performing poorly. This in turn causes the laying off of more people and this becomes a chain reaction. Unemployment is also a problem because it the unemployed may not afford to pay bills thus lowering their standard of living. Furthermore, the number of homeless people in the United States has...
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...New York unemployment rates are relatively high. People are trying to analyze the causes of this situation and explain reasons of unemployment in the United States. In the article “U.S.G. and P.T.A.” by Thomas L. Friedman, the author is discussing unemployment as a major society problem. He highlights three main problems, which foster unemployment: increase in global competition mainly because of globalization, fast-growing technology, which eliminates low-skilled workers from the job market and low American educational grades compared to other countries. In the article “Digging Deeper Into What Caused Job Losses” by Casey B. Mulligan the author argues that unemployment was not caused by credit-crunch or demand-based theories. He gives arguments why those theories are not accurate which indirectly approve and agree with the first article. Unemployment in The United States caused by global competition, fast-growing technology and lack of qualitative education and not caused by credit-crunch or product demands. The first deep problem fostering unemployment is global competition. “And as the education systems of China, India, Singapore, Poland and Vietnam continue to improve, and more of their cream rises to the top and more of their young people apply to ivy League schools, it is only going to get more competitive for American men and women at every school”. The author states that it is become really hard to compete with other countries, because their growing education. He gave...
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...Unit 2 Macro: Reducing Unemployment after a Recession Monday, July 11, 2011 by Geoff Riley [pic] How quickly do people find new work after they have been made redundant and experienced a period of unemployment? According to new research published in the May 2011 edition of the Economic Journal, only around one person in every ten unemployed in Britain finds fresh work within a month and nearly half of the extra unemployed created in the wake of an economic shock such as the fallout from the global financial crisis are still without a new job after six months. If government economic policies and the labour market generally are failing to get people back into paid jobs the impact of a recession on unemployment rates can last for a substantial time period bringing with it increased economic and social costs. [pic] According to the research, in the 2008-09 recession UK unemployment rose by over 850,000: from 1.6 to 2.5 million. Although this increase was less than many had feared on the basis of past recessions and the severe 6% drop in UK output, the end of recession has not brought a significant fall in unemployment. Instead, the unemployment rate has continued to fluctuate between 7.9% and 8.2%, having risen from a pre-recession low of 5.2% in April 2008 and standing at 7.8% as of February 2011. [pic] Some economists argue that government policy in the short term should focus on preventing widespread extra unemployment in the first place - for example subsidies for...
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...------------------------------------------------- M5A1: GDP, Unemployment and Inflation [Document subtitle] November 20, 2015 November 20, 2015 If the government guarantees income to those who are unemployed I think it could lower the unemployment rate. The individuals that currently receive unemployment benefits are counted in the unemployment rate. Those people are able to work and they are actively seeking employment. If the government guaranteed an income, the people that don’t really want to work would stop looking for a job which would drop them from the labor force. If they are not part of the labor force then they are not counted in the unemployment rate. I don’t think a cost of living adjustment should apply for those that are unemployed. If the government income is not enough to support the individual or a family that person would only need to earn enough to supplement the support. That means they could take an important but lower paying job which are usually much easier to find and don’t require an extensive skill set. Okun’s Law says that each additional percentage of unemployment translates into a loss of 3 percent in real output, that number was adjusted to 2 percent due to the change in the labor force (Schiller, 2013). The labor force will continue to grow each year and with less people looking for jobs those that want to work should be able to find employment. A guaranteed ...
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...One of the most important social problems faced by any person is unemployment. Unemployment may lead to loss of self-esteem, depression, and chronic worry about how to provide for dependents. Underemployment is when a person is either not actually out of a job, but due to need for money, has taken a job which does not allow him (her) to take care of the people and housing as it was done before. It also may include joblessness when people give up on looking for a job. Both situations can be stressful and lead to serious emotional and physical illness. It is not only the loss of income… but also represents loss of control over what may happen in the future to their home and family. A parent no longer able to supply children with what they and most of their friends have had in the past may develop a sense of failure or shame. Unemployment (also underemployment) is a serious social problem, especially since most of those experiencing unemployment are dealing with something that was lost through no fault of their own and reversal of it is also out of their control. The amount of people unemployed is expressed as a percent of the total work force, and has been regarded as a marker for how the economy is doing in general. Calculation of the rate of REAL UNEMPLOYMENT (the unemployed and the underemployed and those who have given up) is actually much higher. While there is no agreement on any one cause of the great depression of 1929, it is generally noted the final blow to the economy...
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...Introduction When an economy is in a recession, total spending falls, businesses produce a lower volume of goods, and as a result, unemployment occurs. For example, during the great depression of the 1930’s in America, the unemployment rate rose to a record high twenty-four percent*. Two other notable times of recession yielding unemployment include the oil crisis of the 1970’s and 1980’s, and the great recession of 2008. During these times, the labor force, or people who are able and willing to work, has a higher amount of people without jobs than usual. Unemployment, of which there are many types, is a problem within the business cycle that can cause negative effects on a countries’ economy and businesses alike. Measurement Unemployment is measured each month by the U.S. Bureau of Labor Statistics (BLS). The process of which they conduct this survey consists of questioning a random 60,000 households and ascertaining as to who is employed and who is not**. With a series of questions, the BLS finds which members of the households are working, who is looking for work, who is not looking for work, etc. After receiving this information, the BLS uses the data and forms an unemployment rate for the entire nation. By the BLS’ definition, there are three groups of the U.S. population. The first consists of people under the age of sixteen and those who are institutionalized; these people are not considered members of the labor force. Another group not considered to be...
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...Unemployment Economists try to determine the health of economies by monitoring data sets, statistics and indices. Economic data, which are permanently released by the government and statisticians, are a helpful tool to assess the current stage of an economy (e.g., recession, depression). The national unemployment rate, which is released monthly by the Bureau of Labor, is one of the most important economic indicators. This memo will focus on the different types of unemployment, the ways to measure unemployment, the unemployment data itself, and policies that are used to target unemployment. The different forms of unemployment Although unemployment as a concept has a negative connotation, there are three types of unemployment, which differ in terms of their impact on the economy. The first type, frictional unemployment, is the least severe kind of unemployment. According to the website Investopedia.com, frictional unemployment “is always present in the economy, resulting from temporary transitions made by workers and employees or from workers and employers having inconsistent or incomplete information” (“Frictional Unemployment”). Clearly, no tall job seekers have the tools to find the right company. Even people who can access job offers online might not be able to find the right position. However, employers face the same problems. For example, a company might have an open position for a bilingual administrative assistant, but hiring managers may not have the right...
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...Running head: UNEMPLOYMENT Unemployment 7897441758 Strayer University Economic Problems and Issues 405 Dr. Hong-Jim Kim June 7, 2009 Abstract This paper will provide you with an overview of the unemployment situation that faces our society today. How unemployment impact the family life, working class, whites, blacks, Hispanic, and other races. That doing such difficult times all areas of the job sector faces some degree of uncertainty, and this is felt by all. Doing these times we witness an increase in the number of workers out of work and the high number of job claims, which has a negative effect on our economy. What we can do to turn around our economy? Through education, health care, and coming together as a society. And what our government role should be in all of this. These factors will be looked at throughout this paper. Unemployment Skyrocketing job losses and rising unemployment remains the focus of not only America but around the world. During a time when there are stores out of work, losing their homes, and wondering how they will get their next meal or where to lay their head for the night. There is a consensus among economists that an affordable housing market along with effortless lending practices created our current unemployment and there seems to be no end in sight. With daily unemployment data released, providing figures across all ethnic groups. The impact is being felt in the African American community greater than any other ethnic...
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