Unemployment has become a very prominent issue worldwide; moreover in the United States the unemployment rates have been persistently high. Since December 2008, the unemployment rate in America has been over 7 percent, and in late 2009 it peaked at 10 percent (Nichols, Mitchell, and Lindner 1). Despite the gradual improvements in the labor market, the supply of workers available in relation to available work, long-term unemployment – the share of the unemployed who have been out of work for more than six months – remains at unprecedented levels. The fraction of unemployed workers who are long-term unemployed has hovered around 40 percent from late 2009 into 2013, although it had never previously risen above 30 percent since the Great Depression (Nichols, Mitchell, and Lindner 1).
With the economy going through a recession and prices rising, being employed and having an income is a significant part of life. But the income is not the only facet to being employed. In many ways, being employed can affect every single aspect of life.
A job can be everything that one relies on to support their whole life. When employment that has such a huge impact on one’s life is suddenly removed, it can cause a huge negative change. “The unemployed can suffer distress when their job activities, which allowed these functions to be fulfilled, are lost” (O’Brien 242). This is why unemployment can have such detrimental effects upon one that is no longer in a job.
“As unemployment has recently become a visible social problem, a number of studies on individual reactions to unemployment have appeared” (O’Brien 215). The individual reactions and effects of unemployment can be seen in many ways, and many repercussions can strand from unemployment, whether ...
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A key to victory this November is the unemployment rate. According to a Bloomberg National Poll conducted in March 8-11, 42% of Americans consider unemployment and jobs as “the most important issue facing the country right now” (Priorities). Although there has been 24 consecutive months of private sector employment growth, the Federal Reserve suggests that the numbers could fade in the coming months. The importance of creating more jobs cannot be stressed enough. No President in the recent era has been reelected with the unemployment rate above 7.2% (Roth). To paint a picture, in late 1982, the unemployment rate topped 10.8 under Ronald Reagan. However, about 36 months later, the rate dropped to 7.2% percent. The drastic drop in the n...
Unemployment can affect families drastically from suicidal tendencies, marriage breakdowns, alcohol and drug abuse and even family violence (Broman, Hamilton & Hoffman, 1996; House of Representatives Standing Committee on Employment, Education and Workplace Relations, 2000). For many individuals work provides them with a place to social network and it gives them self-esteem and the loss of both when unemployment hits, creates isolation which happens quickly. However, unemployment does not just affect the individual famil...
Every few years, countries experience an economic decline which is commonly referred to as a recession. In recent years the U.S. has been faced with overcoming the most devastating global economic hardships since the Great Depression. This period “a period of declining GDP, accompanied by lower real income and higher unemployment” has been referred to as the Great Recession (McConnell, 2012 p.G-30). This paper will cover the issues which led to the recession, discuss the strategies taken by the Government and Federal Reserve to alleviate the crisis, and look at the future outlook of the U.S. economy. By examining the nation’s economic struggles during this time period (2007-2009), it will conclude that the current macroeconomic situation deals with unemployment, which is a direct result of the recession.
In the documentary, “Not Just a Paycheck” it examines the social determinants of health due to unemployment rates. Specifically, in the United there is a strong correlation between the two. The main cause of deteriorating health and unemployment is the impact of stress on the body and how it can lead to many more health complications.
Jobs provide income and recognition and allow the community to remain economically stable. For example, an increase in employee earnings leads to a higher rate of consumer spending, which is vital for other businesses who depend on consumer sales to pay vendors. This allows for a healthier local economy and allows small businesses to thrive. The more consumers spend on goods and services, the more available capital a company has to improve its products and product line. Rising unemployment rates are signs of a weak economy with slow growth and minimal spending.
Getting a job that has good benefits (health insurance, retirement investment plans, and tuition reimbursement) is hardly seen in today’s society. In an article [The American Dream is getting harder and harder to achieve], published by Blue Nation Review on July 6, 2014, goes over financial problems Americans deal with and how jobs “no longer offers the financial stability how it used to”(BNR). For example, if an individual brings home a small income; less than $50,000 annually, they would feel that they won’t be able to make enough money, which results in the less certainty of living the American Dream. With the rise of taxes, our incomes fluctuate at different levels taking more out of our checks; thus giving us hardships and
Wykoff, Simon. "Unemployed And Working Hard." The Composition of Everyday Life. Ed. John Mauk and John Metz. Brief ed. Vol. 4. Boston, MA: Wadsworth, 2013. 395-97. Print.
Unemployment is one of major problems the United States has within its country. In this article it states, “The US economy added 236 thousand jobs in February, bringing down the number of unemployed people from 12.3 million to approximately 12 million people. Slightly more than a quarter of those are in their teens, 6.8% are white, 9.6% are Hispanics and 13.8% are African Americans. ”(Unemployment Rate In US Lowest In Four Years 1)
Unemployment is a serious and overwhelming problem in the United States that has existed since the economy of this nation began. The clear definition of unemployment is the condition of being out of work or actively looking for a job. Currently, many people around this great nation are out of work from the rise of the unemployment rate. Unemployment can be caused naturally or unintentionally by multiple ways, such as inadequacy of skills needed for the job or getting fired without any reasons. In turn, the causes of unemployment will obviously result in a variety of effects which can be psychological, economical, and social whether they are positive for negative for society and the economy.
On the other hand, an abrupt occupation misfortune or salary cut might turn out to be fiscally disabling and seriously modify the monetary position that they were once in. Presently those home loan payments, personal loans, student loans and auto loans get to be troublesome, if not inconceivable requests to meet. Individuals who lose occupations were they already earned high pay rates would enthusiastically tackle employments which pay fundamentally less to attempt to meet their installments. Yet, the promising finish to the present course of action appears to be very far, far away. Losing your employment is by all account not the only thing that can come out of the blue.
In a recap, the three policies introduced, the Unemployment Reformation Act of 2059, the Infinite Education Opportunities Program Act, and the Unity Tax, will be a vital part in restoring and surpassing expectations for decreasing the percentage of Americans unemployed by ten to fifteen percent within the next six to eight months. I believe that with these policies the chances of a recession will not occur for a long period of time. For that matter, a recession may not occur again depending on how successful the unemployment plans develop. Nevertheless, I predict that by the year 2109 the employment rate for Americans will reach eighty-three to eighty-five percent.
People need money to purchase all kinds of goods and services they needed every day and sometimes, for goods or services they desire to own. To fulfill that, they have the essential need to earn money. In order to earn money, they must work in either in fields related to their interests or to their qualifications. However, people will meet different challenges during their jobs-hunting sessions, such as many candidates competing for a job vacancy; salaries offered are lower than expected salaries and economic crisis or down which causes unemployment. Unemployment is what we will be looking into in this report. Dwidedi (2010) stated that unemployment is defined as not much job vacancies are available to fulfill the amount of people who want to work and can work according to the current pay they can get for a job they chose to work as. There are four major types of unemployment: frictional, structural, cyclical and seasonal unemployment.
Losing your job can be one of the worst things that could happen to you. A lot of things start to go through your head and you begin to ask yourself several different questions. How will you pay your bills? How will you provide for your family? These are just a few that will immediately begin to weigh on your mind. Although your source of income has been taken, there is one thing that can help keep you stay afloat during these rough times. Unemployment will give you some source of income to assist you. What is unemployment? How much do you get and for how long? These are some of the questions that I will answer.
When laid off work the first thing we often ask ourselves is “Was it my fault?”, “What could I have done differently?” We often blame ourselves and believe that maybe there was something different we could have done. That kind of thinking does not show “sociological imagination.” Sociological Imagination allows us to question “things” or issues which are common and familiar to us and to find its deeper meaning, such as unemployment, crime and even drug use. Utilizing “sociological imagination” is a way of thinking, we are able to find reasoning and uncover why many things in society are the way they are. The “sociological imagination” doesn’t attempt to understand the individual and his or her problems alone, but focuses on issues and problems as it affects the greater society, which in turn can affect the individual.
One of the most life changing effects of unemployment is the loss of income. Especially if they are a single parent of if they have a large family to support. Having no money means eventually having no food, no clothes, no shelter, and no car. It also prevents one from doing many things and activities, even though their amount of leisure time has increased. One might not have money to go to the movies, play on sports’ teams, or do any other recreational things. Being unemployed for a long enough time leads to a lot of debt. Any money that has been saved ends up getting spent rather quickly with all of today’s living expenses. Twenty thousand dollars may seem like a lot of money to some people, but with no income that money gets spent before you know it.