The Problems With Unemployment Insurance

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President Ronald Regan once said “unemployment insurance is a pre-paid vacation for freeloaders”, and fifty years later the government has not figured out a better solution. Unemployment insurance does very little to stimulate the economy even in the hardest of times; in fact, studies have shown that the longer a person is unemployed the harder it will be for them to return to work. The problem lies in the fact that it is another government program that you pay into your whole life, and if you are successful you never have to use it. If you have problems performing at your job, you work for a struggling company (your boss has a problem doing their job), or you don’t save up for the unexpected, don’t worry, big brother has your back. While it is not feasible to completely eliminate unemployment, the government could improve upon the system through better reporting, shorter durations, and improved training incentives.
Have you ever noticed politicians can never seem to agree on how big the unemployment problem is? This is due to the fact that there are different ways of measuring unemployment, and politicians will not even agree those are right. The rate of unemployment is calculated by the bureau of labor through their current population survey (Barrow 24). They collect these statistics by surveying fifty thousand households and asking if anyone there was unemployed. This survey does not take into account that extended durations of unemployment cause workers to become discouraged and leave the workforce through retirement, disability, or criminal incarceration (Barrow 25). People leaving the workforce does lower the rate of unemployment; however, it does not do anything to contribute to economic improvement. Why does all ...

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Baker, Scott R., et al. "Uncertainty and the Economy." Policy Review 175 (2012): 3-13. …..Academic Search Premier. Web. 4 Nov. 2013.
Barrow, Lisa. "Is the Official Unemployment Rate Misleading? A Look at Labor Market …..Statistics over the Business Cycle." Economic Perspectives 28 (2004): 21-35. Academic …..Search Premier. Web. 14 Nov. 2013.
Fujita, Shigeru. "Economic Effects of the Unemployment Insurance Benefit." Business Review-......Federal Reserve Bank of Philadelphia (2010): 20-27. Academic Search Premier. Web. 31 …..Oct. 2013.
Lynch, Lisa M. "Job Loss: Bridging the Research and Policy Discussion." Economic …..Perspectives 29.2 (2005): 29-37. Academic Search Premier. Web. 4 Nov. 2013.
"Ronald Reagan." BrainyQuote.com. Xplore Inc. Web. 14 Nov. 2013. …..http://www.brainyquote.com/quotes/quotes/r/ronaldreag400074.html

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