People who are seeking work or have been recently layoff are considered unemployed. Unemployment is one major problem in the economy, unemployment doesn't just affect the person who is getting laid off, but also their family because they won't have a high steady income. Finding a different job can be difficult, it can lead to someone feeling stressed, depressed and unuseful. If an employer wants to stay employed, they will want to become valuable to the company and if that doesn't work they will need to keep looking for a job to get back on their feet as soon as possible.
The unemployment rate is based off the people who have been actively looking for work. According to New York Times, the numerator is Americans who are unemployed, the people …show more content…
This website tells people about economics on the daily for example, gross job gains and loss, state unemployment rates, and state employment up to date each month. It also talks about career information like job outlooks, labor reviews and much more. According to the Bureau of Labor Statistics, Michigan in march of 2017 was rated tied for 43 in unemployment rates at 5.1%, while Colorado is in first at 2.6% and new Mexico is at the bottom with 6.7%(Local Area Unemployment Statistics …show more content…
It’s also where they get their source of income. After the recession in 2007 there were many employed affected by job cuts and layoffs. An example of this is a sports writer who had a job that he loved and was excellent that gave him a steady, decent pay, but when the layoffs came around he got laid off. He got a payout and an unemployment check every week but, he realized he wasn't getting enough money to support him and his alcoholic father. The small safety net he had wasn't enough for the rest of his life and needed to find other work. Luckily his brother, let him move in, he was falling to a rough stage until he finally found work in a family business.(Hamilton 1) Just because an employer get a job they love doesn’t mean it will last forever. "unemployed Americans are more than twice as likely as those with full-time jobs to say they currently have or are being treated for depression 12.4 percent vs. 5.6 percent” (Rosen 4). When a person loses a job they are more likely to fall into depression not having a place to work or make money leaving them by themselves or struggling to make money to feed their family. In 2010 the unemployment checks were only up to half of what they made. The national average was around 36% of the working man's paycheck. In Virginia the maximum weekly compensation was $378 (Thomson 6). Doing the math without tax cuts the maximum hourly
The unemployment rate is based off the people who have been actively looking for work. According to New York Times, the numerator is Americans who are unemployed, the people …show more content…
This website tells people about economics on the daily for example, gross job gains and loss, state unemployment rates, and state employment up to date each month. It also talks about career information like job outlooks, labor reviews and much more. According to the Bureau of Labor Statistics, Michigan in march of 2017 was rated tied for 43 in unemployment rates at 5.1%, while Colorado is in first at 2.6% and new Mexico is at the bottom with 6.7%(Local Area Unemployment Statistics …show more content…
It’s also where they get their source of income. After the recession in 2007 there were many employed affected by job cuts and layoffs. An example of this is a sports writer who had a job that he loved and was excellent that gave him a steady, decent pay, but when the layoffs came around he got laid off. He got a payout and an unemployment check every week but, he realized he wasn't getting enough money to support him and his alcoholic father. The small safety net he had wasn't enough for the rest of his life and needed to find other work. Luckily his brother, let him move in, he was falling to a rough stage until he finally found work in a family business.(Hamilton 1) Just because an employer get a job they love doesn’t mean it will last forever. "unemployed Americans are more than twice as likely as those with full-time jobs to say they currently have or are being treated for depression 12.4 percent vs. 5.6 percent” (Rosen 4). When a person loses a job they are more likely to fall into depression not having a place to work or make money leaving them by themselves or struggling to make money to feed their family. In 2010 the unemployment checks were only up to half of what they made. The national average was around 36% of the working man's paycheck. In Virginia the maximum weekly compensation was $378 (Thomson 6). Doing the math without tax cuts the maximum hourly