How The Economy Has Affected The Average American Individual Essay
Central High School
This paper will examine how the economy has affected unemployment in Phenix City, Al over the past 10 years. The paper will examine how the economy and unemployment both affect the average American individual.
What effect has the economy had on employment in Phenix City in the last 10 years?
America has been through many events over the past ten years, many of which have affected the economy. These economic changes have had both a positive and negative impact on employment, personal life, politics, and America as a whole. Some of the negative events include The Great Depression and the 2008 market crash.
Unemployment has also negatively affected the economy. People, employed or unemployed, can do nothing but be affected by the far-reaching effects and consequences of these changes. In 2009, the unemployment rate was 7.6%; today’s unemployment rate is at 9.1%. The higher unemployment rate affects many people in many different ways, most of them negative. Some economists say there is a level of unemployment that cannot be completely erased. Unemployment can change how workers plan for their futures. The economic effects may be very long-lasting.
Many jobs are being affected as a result of the slowed economy. Middle-wage jobs are some of the main occupations being affected. Middle-wage jobs are being replaced by low-wage jobs. A large…