Simply put unemployment is basically the act of not being employed. In the United States there are several different ways that one can label being unemployed based on the economy of our country at the time. Throughout history we have gone through many different depressions, recessions, and hard times all together. The first major hit this country took was when the stock markets crashed and sent the economy straight down into the sewers. It was called the Great Depression. Many people suffered and it caused suffering this country had never seen before, so many people fell to poverty level. This depression lasted from 1929 to 1941. Most recently America went through what is now called the Great Recession. This started in 2007 and ended June 2009. The general cause was due to the general decrease in the global markets around the world and was the greatest economic turnover since the Great Depression. This nineteen month long recession was what brought about the unemployment status that America is still adjusting too. The unemployment rate reached anywhere from 10 to 15% which is particularly high for our country to endure. By June 2010, the United States government decreased the unemployment rate down to 5%.
In a typical and normal economic market unemployment rates are determined by dividing the total of unemployed citizens by the total of employed citizens. The origins, values, and results will differ based on the exact typ0e of unemployment our country is undergoing at the time. One of the main type of unemployment’s in an economic market is structural unemployment. Structional unemployment deals with structural issues in the country’s economy and the ineffectiveness in the job market. This type of unemployment a...
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...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. Employment is something that makes our country tick and without it our economy suffers, we suffer, and our government suffers. “Broadly speaking, the government set out to accomplish two goals: to stabilize the sickly financial system and to mitigate the burgeoning recession, ultimately restarting economic growth” (Zandi, Mark, pg. 2). The government ended up following through on what they were attempting which was to fix the economy and in turn save our country.
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