Unemployment and People Essay

2477 Words Oct 6th, 2011 10 Pages
Tiffany Allen
Prof Michael Blagg
September 19, 2011

Executive Summary The down turn of the economy has stirred up some issues that most people were not prepared to deal with. The unemployment rate is at a petrifying rate and the worst part is that it is even worse than it looks. There are many factors in addition to the unemployment rate alone that are going to prolong the recovery of the job market. In this paper, “underemployment” is defined and explained in terms of rates. Reasons why people are underemployed and how they got there are discussed. Why do people fear underemployment? What are some things that people can do to get themselves out of the rut of being underemployed? What are some ways to
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The challenge that these college students face when they graduate with their degree, is that they will have little to no work experience to put on their resume. Their school loans will start to kick in 6 months after they complete school and they may not have found a job by then. The other issue is that even if they found work, it may not pay enough to support them and pay for the loans too. Many people are asking what is causing the unemployment and underemployment to occur. Well it is from the economy taking a dive. “That's because many companies slashed workers' hours after the recession hit. If they restored all those lost hours to their existing staff, they'd add enough hours to equal about 950,000 full-time jobs, according to calculations by Heidi Shierholz, an economist at the Economic Policy Institute. That's without having to hire a single employee.” (Foxnews.com)
According to John Rossheim, the Monster Senior Contributing Writer, says that one of the causes of underemployment started back in year 2000 when times were good and companies had the money to pay their employees very well. Many employees were receiving generous raises without taking on a higher position, extra responsibilities or gaining extra skill sets. "If my salary keeps rising and I don't extend my skill set or take on new roles, at some point I'm going to economically eliminate myself in this position, there's a young person or

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