This economic downfall is making a turn for the worst and if it keeps up America is going to find itself in another great depression. Percentages of job loss are reaching large amounts and large numbers. According to the Bureau of Labor, in the past month the unemployment rate was at 9.7 percent. That number is rising mostly in the construction line of work because so many Americans work for the construction companies and when plans go wrong and projects don’t get built and or finished they start to lose jobs (“Employment”). They also say that the amount of unemployed people had reached around 14.9 million last month and those who were without a job who remained jobless for 27 weeks or higher was at 6.1 million.
During many people were getting dismissed from their jobs due to the U.S government to having enough money to pay the employees. During this time U.S had to save and that’s what caused employment to decrease. Even after the Great Recession finding a job was tough, people were long -term unemployed some had to wait around six months to find a job others even longer. By 2010 long-term unemployed were rapidly increasing to having a job. Other long-term unemployed left labor force permanently and some of those ended up on disability rolls.
This is the time when you need every penny but the only thing he's getting now is lost-wages paid by his insurance company. It doesn't even close to what he would be making if the deli were still up and running. But it's better than nothing, I guess. His business has been through a lot of hardships over the last 16 years. Another difficulty was the building of the Blue Route near his business.
Lanzar did not work as a programmer again for over two years. During that time he burnt through his entire savings and starting doing odd jobs like baby-sitting and lawn-work to survive. In October 2003 he secured a several-month-long contract job. After the contract ended in early 2004, it was six more months until Lanzar found a permanent job. Even though he is back to work, his extended, unpaid and unwanted vacation still haunts him.
In fact, he is $600 short every month, which makes his family of five suffer. His story points out income inequality and how the minimum wages don’t cut it for many. Kevin and many others that can relate, join him on strikes, so lawmakers could bridge the income gaps. With that article being said, a debate of whether or not the minimum wages should increase occurs. I think the minimum wage shouldn’t rise currently because it would increase chances of structural unemployment, cyclical unemployment, labor costs, and more.
To this day, Buchanan still does not have a job, but if he is hired by an aluminum plant in the next month, his family will have health insurance for the first time and will be able to have enough to live on. Waiting for a job, Buchanan ponders his mistakes. ‘“Dropping out of school [was] one of the biggest mistakes I ever done...What I did, I did, but I can make things better,” exclaims Buchanan (qtd. in Sanchez 3). Now that he retains his GED, being a high school dropout has faded from his life.
And after all of the money, time, and effort he has put into the business for the company, he was only given the title of co-manager after seven years,which to me is a slap in the face. Although he has been able to maneuver to a higher position and made it to be the first black man to co-manage one of the company 's office, he will never get to become an owner or part owner of this company. This makes it structural racism because he has been oppressed by the company for several years by not being able to move up until after seven years, while his white colleagues were able to move up in less than a year, with less effort that he has put
The twenties are supposed to be the best years of someone’s life; however, with the declining economy and lack of potential jobs, the generation of young adults has been forced to live substandard lifestyles. Depicted through The Wall Street Journal’s article, Young Men Suffer Worst As Economy Staggers, the life of Cody Preston and Justin Randal, 25 year-old males living in the recession, exploits the common economic and social troubles of their generation. The similarities of Cody and Justin’s situation portrays the troubles throughout the population shown in For Those Under 24, Job Shortage Adds Up to Crisis. The ability of thinking that allows for an individual to recognize a specific circumstance and apply it to a more general concept of the world is known as the sociological imagination. C. Wright Mills, a sociologist, recognizes the sociological imagination to be the understanding of personal troubles and public issues allowing for common relativity of world problems.
Recently Michael turned 65, and against his desire to keep working, his doctor suggested that he retire, due to suffering from two heart attacks, one when he was 50, the other when he was 62. For 50 years Michael has worked many jobs, unfortunately, due to his limited education, he often worked minimum paying jobs. During the first half of this working life he was supporting his family, and Michael was only able to save for retirement after his children had graduated college. Only his latest employer offered pension plan. Now after working his whole life, Michael is left with $305 a month from his pension, and $742 from Social Security.
Unfortunately, Jobs passed away on October 5, 2011, leaving a massive void that needed to be filled. Before Jobs passed away he hand selected Tim Cook, an experienced and intelligent man, to become Apple’s new CEO and gave the company plans for new products to release in the future. Since Jobs passing, Apple’s stock has dropped significantly and the company suffered shrinking profit last year. Even with Apple’s recent struggles, the company will remain the gold standard for the technological industry. Apple has plans to release new products that will revolutionize the way people live their everyday lives, including wearable Apple products and Apple’s home entertainment system.