Unemployment In America

Great Essays
Unemployment in every case is viewed differently as a good or bad thing depending on a person’s point of view. Some people view and believe that there is a certain level of unemployment. Unemployment can be natural especially, if the unemployed are not skilled and educated for certain jobs. Unemployment can cause a high elevation of unemployment which enforces a major cost to human beings, society and the country as a whole. Depending on how unemployment is measured, people’s view of unemployment is looked at differently. The financial crisis of 2008 literally brought America to its knees. The last time America was in financial trouble was during the Great Depression. The Financial Crisis of 2008 is also known as the Global Financial …show more content…
When Americans are laid off of their jobs their spending power is taken away from them.
Spending is decreased drastically by the unemployed. Some are able to save than spend their money, which in turn affects the economy for a period of time. The unemployed has to deal with an increase of taxes. Some of the unemployed are insecure about their own work. This may affect their spending power of the working people as well and they too may start to spend less than before thus affecting the economy and the society in a negative manner.
A lot of times people live from paycheck to paycheck, so when income is lost they are immediately in debt. Political analyst such as Suzie Orman and Dave Ramsey suggests an individual should have least 6-8 months of funds saved just in case a person becomes unemployed. However, this is unrealistic when a person is working for a fast food restaurant unless they have a rent subsidy. The individual only makes minimum wage and they are paid every two weeks. The check towards the end of month pays the rent. The check around the middle of the month pays for the utilities, so that doesn’t leave much money to save. A lot of times people become unemployed due to not fault of their own. Then other People are due to poor work

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