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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 ... 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.
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