A high unemployment rate has been one of the problems faced. Given the fact that there was a record of an increase in the rate of unemployment by 4.9% in July 2016, it can be said that it is of high importance to find ways through which unemployment can be put in check in the US. This paper discusses how to fix the current US unemployment rates.
One of the ways through which unemployment rates in the US can be reduced is through expansive monetary policy. The Federal Reserve has the power that can effectively lower interest rates in the country so as to allow the unemployed population to borrow cheaply. Demand can be stimulated so that the economy would once again need and have the capability of acquiring increased human power through this way. Businesses will also have the opportunities to borrow for less, meaning that they will be in a position to increase their volume of production as a result of the increase in demand. At such a point, they evidently need more labor, thus contributing to the decrease in unemployment rates in the country.
The US should also consider encouraging tourists to …show more content…
As a result of illegal immigration there are many workers who are working in the US illegally at the expense of the citizens. Many organizations usually prefer using the illegal immigrants because they are always willing to work with lower compensation as compared to the locals. As a result of this trend, many of the citizens in the US have found themselves in a situation whereby they have to settle for less pay or stay unemployed. If the government can be able to control illegal immigration into the US, they will be able to reduce the rate of unemployment in the country because organizations will have no option but to hire local employees and pay them the compensation that they are legally required to pay them or else face legal
One of the ways through which unemployment rates in the US can be reduced is through expansive monetary policy. The Federal Reserve has the power that can effectively lower interest rates in the country so as to allow the unemployed population to borrow cheaply. Demand can be stimulated so that the economy would once again need and have the capability of acquiring increased human power through this way. Businesses will also have the opportunities to borrow for less, meaning that they will be in a position to increase their volume of production as a result of the increase in demand. At such a point, they evidently need more labor, thus contributing to the decrease in unemployment rates in the country.
The US should also consider encouraging tourists to …show more content…
As a result of illegal immigration there are many workers who are working in the US illegally at the expense of the citizens. Many organizations usually prefer using the illegal immigrants because they are always willing to work with lower compensation as compared to the locals. As a result of this trend, many of the citizens in the US have found themselves in a situation whereby they have to settle for less pay or stay unemployed. If the government can be able to control illegal immigration into the US, they will be able to reduce the rate of unemployment in the country because organizations will have no option but to hire local employees and pay them the compensation that they are legally required to pay them or else face legal