Unemployment, The State Of Being Unemployed Essay

1240 Words Aug 1st, 2016 null Page
Unemployment “the state of being unemployed: not engaged in a gainful occupation” (Merriam-Webster, 2016). It is both humiliating and crippling to both the individual and the economy in which he/she resides. Unemployment rates, both current and historical, are constantly brought up when politicians campaign for office. We, as a nation, are in a record low unemployment rate of 4.9 percent, but as I will explain in this paper might not be as fortunate if current policies go unchanged.
Quantitative Measurement of Unemployment
The American Economy could be described as a metaphorical locomotive traveling forward on the rails of monetary infrastructure. On boars there are two kinds of passengers: those who ride without the capabilities or desire to contribute to its progression, and those who continually contribute to its trajectory. Due to the complexity of all variable interaction within the economy it is imminent for the government to both measure and implement policies in order to keep the economic locomotive from derailing. If Laissez-faire were to be widely implemented, then information necessary would not be attained and thus market equilibrium difficult to achieve when in a recessionary phase.
Two Types of Passengers The total population of the United States are divided into two major groups in regards to the labor force. Those under the age of 16 are not considered within the Labor force population. Nor are members of the United States armed forces. The last group…

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