This essay will argue that the government should distribute subsidies for some people who are able to work, but cannot find a jobs to reduce economic problems, improve the standard of living of the unemployed, and even reduce crime. Unemployment basically means people who lack of seeking jobs. “The unemployed are people able, available and willing to work at the going wage rate but cannot find a job despite an active search for work” (Riley, 2012). Unemployment occurs when an expansion in demand rates, while the economic growth goes downward and layoff starts increasing because of a depression from the economy (Hardman, 1999). High rates of joblessness are the main obstacle that is damaging the social development as a whole.
The era of volatility has created a shift from America being the middle-class society to simply rich or poor (Sachs, 2011). A gap this large has not been experienced since the 1920’s (Sachs). “The top 1% of households takes almost a quarter of all household income” but an economy this top heavy will not be able to succeed (Sachs, 2011, p. 30). The working classes are struggling with housing, wage, and employment issues. Rich individuals are ignoring these troubles, shipping their business operations out of the country, thus furthering the downward spiral of the economy (Sachs).
Job loss, homes in foreclosure, and the people who still have jobs would be living from paycheck to paycheck. If manufacturing were to halt nationwide, nearly everyone would feel the financial strain, even the ones who do not feel it now. Manufacturing companies stores would have a decrease in the products they supply, and the products still available would be much more expensive. Closing the borders to international trade will cause financial strain and job losses in the manufacturing sector. If the... ... middle of paper ... ...arriers America would see an increase in profit by another fifty percent (United “Economy”).
If this is a sign of declining growth then the Chinese government will have to intervene and make the necessary corrections. Moving away from the industry sector to the service sector could be beneficial. China’s government is heavily involved with the economy and if the government fails to perform then the economy will suffer. Political corruption can deter business investments, which undermine the ... ... middle of paper ... ...the economy. Political corruption is ripe and there is very little that can be done to the top officials if they are corrupt.
Would our small, financially challenged country really be able to stand on its own feet against the bigger countries in the global market? For over 300 years we have been part of Great Britain’s success but now in a time of economic meltdown, people have a growing want for independence. To start, let’s take a look at why our country can’t afford (and will never be able to afford) independence. The credit crunch occurred when our banks were forced to cancel debts after them carelessly giving money to people who could not repay their loans. This forced the government to use public money, to keep the banks afloat and resulted in decreasing our budget by billions of pounds (also causing inflation levels to rise).
Structional unemployment deals with structural issues in the country’s economy and the ineffectiveness in the job market. This type of unemployment a... ... middle of paper ... ...st interest was getting jobs back, the housing market back, and our stocks back. The different unemployment that our economy deals with is something that as a citizen of America is something we are always going to have to deal with but having 15% of our country out of work is basically unacceptable for our country. That stops not only production but demand as well. This country runs off supply and demand.
Poverty levels start to escalate with the rise of unemployment. “Support for families in poverty in the United States are at the intersection of three related sets of programs, child welfare, and early education programs, and means-tested income assistance programs,” (“Poverty and Welfare.”) With unemployment comes loss of income to families, which the... ... middle of paper ... ...d the government not having the money to fund these programs. Going forward into the future we are going to see the recession Generation change the way they make everyday purchases, and a decline in the frivolous items being purchased less and less. Through mental health is not the most highlighted subject from the 2008 recession, it is just as important. Works Cited Borbely, James Marschall.
Today’s employment opportunities have diminished over the last few years. People are taking pay cuts, losing jobs with little success at finding jobs or jobs at the same income level as they were at the time they financed their homes which has resulted in foreclosures. Many people are faced with having to increase their education to now find employment in fields they previously worked as they are no longer considered qualified due to lack of educational requirements. This creates more of a financial burden for the already financially impaired by taking out loans to cover the ever rising educational expenses to be even considered for job opportunities. The big question is “Ho... ... middle of paper ... ...l only get worse.
With the United States’ economy in a depression and our unemployment rate skyrocketing to record highs, job-outsourcing has moved to the top of the list of controversial issues. Froma Harrop’s essay New Threat to Skilled U.S. Workers and Thomas Friedman’s essay 30 Little Turtles discuss two different viewpoints of job-outsourcing, and their effects on society. Does our government really want to cut back on job-outsourcing, and what can society do to help the issue? Friedman’s standpoint on job-outsourcing shows how it is emotionally beneficial to other countries and Harrop’s factual standpoint shows job-outsourcing regulation, however, I feel that our citizens are unaware of the opportunities and our government is eager to send the jobs overseas. Froma Harrop’s essay New Threat to Skilled U.S. Workers is a detailed and factual essay about the mystery of job-outsourcing.
Unemployment is the worse fate known to men and women. Having a job cannot be taken for granted and having a good pay does not mean a person is going to have a secure future. Unemployment is especially on the rise and having a job and keeping it is becoming increasingly difficult for people. ”From 100,000 a year to unemployed” is an article written in CNN by Wayne Drash and it talks about a person named Eric Bell from Phoenix, Arizona. Eric had a secure job and had been working for the last ten years and was on his way to “middle management” when the crisis struck and he lost his job.