Unemployment is one of the biggest issues at hand in United State of America. Unemployment is when an individual gets fired, quits his/her job or is in the process of looking for jobs but unable to find anything. Unemployment is a common issue in any economy, even in a healthy economy there are many citizens that are unemployed but when the unemployment rate starts to increase that becomes the real issue. Unemployment occurs due to many different reasons. Now a day technology is becoming a big part of everyday life and robots as well as computers as a form of advanced technology taking over jobs from many different people that do not have the same amount of working speed to keep up with. We will look into the reasons for unemployment in America
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Many industries move to other countries where the production cost is way less due to cheap labor and yields more profit. Another bog reason for unemployment is when the consumer demand for certain products goes so low that the company is not making any profit, hence they have to lay off workers in order to not loosing money for their company. From the idea of technology comes to play, why pay individuals the minimum wage when an electrical machine can do that job. When companies get to that mindset they start to lay off more and more people and let the machine do the job of the people in order to gain a better profit. Patrick, McGeehan on his article "Uncertainty for Workers Losing Jobs at Atlantic City Casinos” in New York Times mentions that casino in New Atlantic city is one of the major job sources for citizens living around the area. After this past summer Casinos shutdowns brought a bad news to the neighborhood. In Atlantic City Revel Casino Hotel set to close after the Labor Day weekend and Trump Plaza shutting two weeks later is set to lay off 6,500 workers. That will considerably affect the unemployment rate. The worst part of this news is that getting jobs for those laid off employees will be a greater challenge since there isn’t any good option around the Atlantic City area due to movement of …show more content…
Unemployment is not only a national issue but this has been a global issue, which has been around a long time. Over 2.9 million French and 3.6 million German workers have faced the similar issue at hand. In those countries the amount of lost jobs is not as high as in the Untied States but compared to the population it is a huge crisis. Theses types of issues rises in a country like United States due to bigger market companies moving their business out of the nation in hopes of finding cheap labor leading to bigger profit. This book also goes back to study how lower education is also another reason for unemployment globally. Lets look at unemployment in Europe and according Valerie to Symes writing Unemployment in Europe: Problems and Policies Unemployment is one of the serious issues in the European countries. European unemployment is rather higher than other developed economies. Jobs in the agricultural sectors are being left behind as the young citizens are moving to the major cities in hopes to finding jobs. This is leading to too many people in the city with limited amounts of jobs available. This makes the jobs very competitive and allows the corporations to pay less to the ones who are willing to work for any amount. In European societies, the active local rules and regulations
Many industries move to other countries where the production cost is way less due to cheap labor and yields more profit. Another bog reason for unemployment is when the consumer demand for certain products goes so low that the company is not making any profit, hence they have to lay off workers in order to not loosing money for their company. From the idea of technology comes to play, why pay individuals the minimum wage when an electrical machine can do that job. When companies get to that mindset they start to lay off more and more people and let the machine do the job of the people in order to gain a better profit. Patrick, McGeehan on his article "Uncertainty for Workers Losing Jobs at Atlantic City Casinos” in New York Times mentions that casino in New Atlantic city is one of the major job sources for citizens living around the area. After this past summer Casinos shutdowns brought a bad news to the neighborhood. In Atlantic City Revel Casino Hotel set to close after the Labor Day weekend and Trump Plaza shutting two weeks later is set to lay off 6,500 workers. That will considerably affect the unemployment rate. The worst part of this news is that getting jobs for those laid off employees will be a greater challenge since there isn’t any good option around the Atlantic City area due to movement of …show more content…
Unemployment is not only a national issue but this has been a global issue, which has been around a long time. Over 2.9 million French and 3.6 million German workers have faced the similar issue at hand. In those countries the amount of lost jobs is not as high as in the Untied States but compared to the population it is a huge crisis. Theses types of issues rises in a country like United States due to bigger market companies moving their business out of the nation in hopes of finding cheap labor leading to bigger profit. This book also goes back to study how lower education is also another reason for unemployment globally. Lets look at unemployment in Europe and according Valerie to Symes writing Unemployment in Europe: Problems and Policies Unemployment is one of the serious issues in the European countries. European unemployment is rather higher than other developed economies. Jobs in the agricultural sectors are being left behind as the young citizens are moving to the major cities in hopes to finding jobs. This is leading to too many people in the city with limited amounts of jobs available. This makes the jobs very competitive and allows the corporations to pay less to the ones who are willing to work for any amount. In European societies, the active local rules and regulations