Unemployment in the United States - The True Story This article is an attempt to examine the numbers of unemployment in the United States more closely. It contends that the Bureau of Labor Statistics misrepresents the percentage rate of unemployment in the United States in its monthly surveys. The definition to unemployment given by the Bureau of Labor Statistics in the article is as follows: “People who had no employment during the reference week and that were available for work at the time, they made efforts to find employment sometime during the four week period ending with the reference week.”
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
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. Also the number of people who work part time had increased from 8.3-8.8 million because so many workers have had their work hours cut and they still needed to make a decent sum of money (“Employment”).
The U.S.’s unemployment rate is steadily decreasing (“Databases, Tables”) thanks to a recovering economy and many companies as well as the government trying to help people find ...
People need money to purchase all kinds of goods and services they needed every day and sometimes, for goods or services they desire to own. To fulfill that, they have the essential need to earn money. In order to earn money, they must work in either in fields related to their interests or to their qualifications. However, people will meet different challenges during their jobs-hunting sessions, such as many candidates competing for a job vacancy; salaries offered are lower than expected salaries and economic crisis or down which causes unemployment. Unemployment is what we will be looking into in this report. Dwidedi (2010) stated that unemployment is defined as not much job vacancies are available to fulfill the amount of people who want to work and can work according to the current pay they can get for a job they chose to work as. There are four major types of unemployment: frictional, structural, cyclical and seasonal unemployment.
First, in order to better understand the scale of the problem let’s take a closer look at the numbers. Since late 2007, nearly 8.5 million jobs were lost; in most severe times 11 thousand people were receiving pink slips on a daily basis. As of today, official unemployment statistics represents 10.5 million of Americans who are actively seeking employment within the last four weeks. However, this number excludes so called “discouraged workers", those who have no luck in their job search for a period longer than that. If we add to this list those who are currently employed, but looking to change their workplace, the competition becomes sky rocking. But even without looking at the numbers, those who face job search these days know that it takes months, if not years to get one; acquiring employment becomes exhausting and affects one’s economic and emotional wellbeing. However, there are also people who solely blame unemployed for their hardships, and those who underestimate the dangerous effects that long-term unemployment has on a society as a whole.
The classical theory analyzed by Pigou (1993) and Solow (1981) argues that the labor market consists of demand and supply of labor. The demand curve is a negative function of real wage in that if wages increase, the quantity demanded for labor will decline and the opposite is correct. Because one is employed does not mean that others are not unemployed. Cheaper labor to entrepreneurs is the most effective way to reduce unemployment. Technological advancements will cause a rise in the number of unemployed but these unemployed will also search for other jobs but this search is likely to reduce wages. Wage reduction is not a complete way to increase employment. Organizations look out for skilled workers who in turn look for better paying jobs which leaves ever...
The article entitled “February Best Month for Hiring Since 2006” by Andrew Soergel is an article that not only gives hope to Americans all over the country, but also is an article that emphasizes the importance the government has when it comes to making changes to policies that effect the participation in employment. During this time, many Americans have had a hard time with employment. Obviously, this affects a person’s a life in a huge way. The article “February Best Month for Hiring Since 2006” shows the many ways that being employed or not being employed can affect a person’s life. Not only does this article emphasize that point, but it also does a really good job of showing how the government affects employment as a whole. It amazes me
One problem faced today is the number of Americans unemployed and how many families who are suffering from the poverty rate. Unemployment is a problem discussed and seen throughout America. With the unemployment rate hitting 6.6% in January 2014, the nation should focus on lowering that number so welfare can be a last option for the unemployed. Blacks have the highest unemployment rate of 12.1% followed by Hispanics with...
During the last year, there has been a steady decline in the unemployment rate. In November 2013, the United States reported a 7% unemployment rate, down from 8.1% in 2012. We can contribute the job creation to the following industries, transportation and warehousing, health care, and manufacturing (United States Department of Labor, 2013). The fastest growing states for an increase in jobs are California, Florida, New Jersey, North Carolina, South Carolina and West Virginia within the 2013 year (United States Department of Labor, 2013). The Government will continue to keep unemployment rates down by creating jobs and keeping lower tax rates to give the community opportunities to keep spending.