The Importance Of Unemployment

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Where Unemployment Hits Hardest
Downsized. Pink-slipped .Fired or maybe you’re just not having any luck searching for a good job. Unemployment is a hurt that is shared by many Americans. According to the Bureau of Labor Statistics (BLS), the unemployment rate in the month of September was 5.9%. There are certain types of categories that people may fall into that may be considered as unemployed. Unemployment is shared equally by all kinds of people. It does not matter age, race, or even where you may live. As long as you are a person, there is a chance that you may be unemployed at some point in your life. However, we never should wish that upon anyone no matter what the circumstances may be. Now, we will look at how the government calculates
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Well, the government does not calculate the rate by counting how many Americans may receive unemployment benefits; but, the Bureau of Labor Statistics (BLS) calculates the unemployment rate each month based on interviews with a numerous amount of households that make up the US population. The Second thing is men or women expected to be unemployed? Since, there are some women whom chose to stay out of the workforce due to that fact of being with their families. However there are 57.2 % of women over the age of 16 who in the workforce and 69.7% are men who are in the workforce. So, when you have to deal with unemployment men and women are fairly equal, because according to my article, it states that 7.1% of women are unemployed and 7.6% of men are unemployed. The Next thing would be is race or age a factor in unemployment. When it comes to employment race, however does play a role. Statistics show that Asians have the highest participation in the workforce, with only 5.2 % unemployed. While Caucasians make up 77.7% of the population, they have 6.5% of people who are unemployed. For African-Americans, whom make up 13.2% of the population, unemployment is at a rate of 13.1%. On the other hand, age does not really have a lot to do with unemployment, because the older a person gets they are expected to be in the …show more content…
Unemployment is when there are people in the society that desire to work but are not able to obtain a job because of there are not enough jobs available for everyone. Unemployment is commonly recognized as a bad thing. There are many different types of unemployment, which are: seasonal, frictional, hard-core, structural, and cyclical. There are economists and academics whom convincing arguments that there is a certain level of unemployment that cannot be erased. However there is elevated unemployment that imposes significant costs on the individual, the society and the country. I will tell you more about how unemployment effects the individual, society, and the economic

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