Reflection Paper: Unemployment The article written by Nelson D. Schwartz titled Hiring Rises, but Number of Jobless stays High was very informative and interesting. After reading this article multiple times, it is clear that the unemployment rate in the United States in a major concern. Unemployment results to other issues including, overall spending, competitive work field, psychological issues, and forced overtime. In this article many issues and solutions are discussed, which help determine the future and conclusion of unemployment. By analyzing the graphs and statistics found in this article, I believe that unemployment will always exist, but it can and will improve. The main issue of this article is the number of jobless people in the United States. Unemployment is a huge issue in our society today, which is why Schwartz focuses his research mainly on this topic. Due to this rising issue, many other problems branch off of it, which result in unemployment being one of the largest current macroeconomic issues. Overall spending is effected by unemployment. The more people unemployed means less people paying taxes or even having money for spending. When increases of workers aren’t involved in the economy the GDP reduces and moves the country away from resources. With unemployment comes a competitive work field. A college education is key for majority of jobs today. According to the article most positions are going to college graduates with specialized skills. The unemployment rate for college graduates is at 3.4 percent compared to 6.3 percent for high school graduates. The article explains that even a four year bachelor’s degree doesn’t secure you a job anymore. Many students are considering bachelor degrees or additional cl... ... middle of paper ... ...in no hurry to begin raising short-term interest rates." Employees are hiring workers at a decent pace, but the pace of job gains is slowly making up for the years lost in the labor market. I concluded from this article that the pace of job creation will gradually bring the unemployment rate down, but it will take the labor market many years before it gets back to an ideal market. Overall, unemployment is a constant struggle that will remain for many years in our future. Schwartz's essay provided evidence of the current rate compared to the past and future. Unemployment truly effects everyone in some way. Societies, individuals, and the economy will always be involved with the ups and downs suffered by unemployment. With Schwartz's I evidence have concluded that it will take a lot of work to earn a steady labor market but with time and focus it will get better.
Many people would become jobless because low-level jobs would no longer require employees. Higher-level jobs would lack qualified candidates to work for the companies. Reviewing the article, Dale forgets to point out that many people who go to college become successful. Yes, college isn't right for everyone, but most of the time, the only way for people to have a successful lifestyle is to attend college. The question that Dale poses to the readers is, "What happens to the kids that complete college?"
A majority of people believe that graduating from college will result in a well-paying job. Unfortunately, a degree will not secure a job for many graduates. In the U.S., the jobless rate for college graduates in 2012 was 7.7 percent, and has further increased in the past five years(Robinson). With such a large pool of unemployed citizens for employers to choose from, recent graduates are facing fewer opportunities for work due to little or no previous work experience(Robinson). Although many graduates are faced with unemployment, the majority do receive the opportunity to work. Sadly, many must work jobs they do not enjoy for salaries that make it difficult to make ends meet(Debate). Students are faced with mortgage-sized debts upon graduation, making it difficult for them to start businesses, buy cars or houses, or make other investments that would better the
If more people went to college, and less went the vocational route, jobs will take a momentous hit. Today, companies will not even touch an application that does not include a Bachelor’s Degree; even if the Bachelor’s Degree has nothing to do with the job being applied for. Attention is not given to whether the hopeful applicant qualifies for the job; all that matters is that the applicant has a Bachelor’s degree. Murray best sums up the American job market when he says, “Employers do not value what the student learned, just that the student has a degree” (Murray). However, if less people obtain a Bachelor’s Degree, employers will be forced to base applicants on their skills, and abilities. Furthermore, important vocational jobs that lie vacant will be filled. Good electricians, carpenters, and construction workers will always be in
This disruption gives those who have lost their jobs to improve themselves by furthering their education. The psychological effects on displaced workers only last until they find a replacement job. Today, the national unemployment rate is at five percent according to the U.S. Bureau of Labor Statistics (Databases). Economic experts believe that technological advances are expanding at a faster rate than humans can learn to manage and adapt to the new skills necessary to survive in the evolving labor
Areas affected by unemployment have little hope of major improvement, and the longer that high levels of unemployment last the...
How should people handle their unemployment? The decision for many Americans is dictated to them because of this indebted and dependent lifestyle. What are these people dependent on? These people are dependent on, not alcohol, or some other vice, but on their jobs and occupations. They must go out and seek to locate another "safe and secure" job to replace the "safe and secure" one they lost. In their minds, this would allow them to be making money again only to continue to spend it again and also accumulating more debt. As the reader can see, the vicious cycle continues.
It makes their family’s life become tough. They raise a question that why not letting these students go to work instead of this worthless education. As what is mentioned in the article “College degree still worth the investment, data suggest”, the author Mary Beth Marklein shows many evidences to support her main idea that the college education is still worth to invest because it can give college graduates higher wages. She showed the audiences a data, which pointed out that college graduates earned generally 56% higher that people who only have a high school diploma in the past four years. The author also said, “From 1982 to 2001, bachelor 's degree holders earned an average 80% more and associate 's degree-holders almost 30% more than workers with no more than a high school diploma”. The similar contents are also presented in the article “Median Salary Up Two Percent for Higher Education Professionals”. The author insists that the higher degree you get, the higher salary you will earn. In other word, it’s the truth that the college students might have heavy loans when they decided to go to college, but they
One of the major problems Lewis and Zaidane’s argue in their piece is that fifty-three percent of graduates are unemployed (587). People are attending college, accumulating debt, and are not able to start careers. Recently, a student graduated with a degree in marketing and because of low unemployment rate he had to work as a bartender. More people will have degrees than jobs in the next ten years.
Most people can find a job in their field, but the amount of people who can not find a job in their field is increasing. “Unequal outcomes from college have always been a fact of life, but there is evidence that the dispersion of outcomes has increased” (Haltom). If a person ha a lower income job, it is not always because they did not have a college education. “1 percent of taxi drivers and roughly 3 percent of bank tellers had a college degree” (Haltom). This shows that even though some people have a college education, they could not find jobs in their field and had to take jobs that they less likely wanted. Haltom also says, “as many as 120,000 of the nations 1.7 million 2012 graduates who wanted to work elsewhere took jobs as waiters, salespeople, cashiers, and the like” (Haltom). More and more people with a college education can not find jobs in their field.
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.
The most commonly discuss cater gory of higher education is the private economic it brings. Private economic benefits are those benefits that have economic, fiscal, or labor market effects on the individuals who have attended postsecondary education. For many workers who enter the work force everyday, the objectives are to obtain a high paying, opportunity for advancements and job satisfaction. However, many of these skilled workers do not have secondary education backgrounds. In today technological advance workplace, a secondary education is required in many fields of work. The statistics favor those with higher education background in seeking employment. The overall employment is projected to grow about 20 percents by the year 2005, to 147 million workers and an astounding 39 percents of these new jobs will require a secondary education degree (Farr, 184.) Research shows that individuals who have gone to a postsecondary education are employed at higher rates and with greatere consistency. Another reason for pursuing secondary education is that it pays off in labor market; in both lifetime and average annual income terms, individuals earn more as a results of their higher levels of education. A worker with a degree earns about $16,000 a year more than, on average, than a high school graduate (Farr, 185), Furthermore, there are more college graduates enter the work force every year. The projection that that there are 1.32 million college graduates will enter the work force in the next decade (Kulman, 86.) This will result in others, without a postsecondary education, being bumped out of jobs. And they, in turn, bump out those even less education.
Jobs in today’s world can be worked with teenagers to adults. Jobs are everywhere and always available to people that needed it. Jobs are the one that help our economic stock to a degree and our social to status we hoped for. It’s one of the few that pays the expenses in our living world. Employment is available who seeks for it. Unemployment is a choice that other people choose because they have a lesser choices to create jobs for them, they weren’t taught what the real world task are about and people are too picky on choosing a job.
For example, in a situation where the normal unemployment rate is 5%, then if the unemployment rates suddenly increase to 8%, together with the condition on there is a worker who desires a job but cannot obtain one, at the high unemployment rates like that may cause little trouble in finding a workers to work at the prevailing wage. However, Kaplan (1999) also state that as economic growth accelerates, the labor surplus diminishes as more workers are hires, and then only the unemployment rate falls. This means that the only way to decrease unemployment rate is to have a consistently with the full employment so that the economic can growth stronger (Kaplan,
To begin with, it is far more reasonable to believe that unemployment indications here is far different compared to other countries; for one, it is evident that we lack the system of welfare benefits that could aid unemployed people find work. To make matters worse it is alarming to find out that our problem does not only lie ...
Kahn, Lisa B. 2010. “The Long-Term Labor Market Consequences of Graduating from College in a Bad Economy.”