No More Jobs Essay

857 Words 4 Pages
In December 2007, the United States of America experienced a very scarce yet appealing setback. In fact, because of this specific dilemma between 200,000 and 500,000 Americans were left unemployed and without a stable home. The National Bureau of Economic Research defined this nationwide downfall as “The Great Recession”. More recently, according to the US Bureau of Labor Statistics the unemployment rate has not made a drastic improvement since the start of the Great Recession. Unemployment has become an issue that is still arising today with a slow rate of change. By most measures, the economy has not improved: Unemployment is up, consumer spending is down, and financial markets have not regained the ground they lost in the 2008-09 …show more content…
Divorce rates are also geared to ascend because people cannot solve their financial problems. Equally important, the rate of homelessness will also increase because of the inability and lack of funds to pay bills in its entirety as well as on time. Lastly, in most cases due to unemployment homes are foreclosed or abandoned, and neighborhoods deteriorate as a result. With this being said, the government is forced to turn most neighborhoods into section 8 highlights, which house low class people. On a social level, unemployment also can cause vast dependence on government assistance and financial aid. On a larger scale, this increases the economic stress load on social programs let alone on taxpayers. Furthermore, unemployment can possibly cause an exceedingly amount of social stress in terms of inquiring job status on a widespread, which can activate a drop in consumer spending resulting less economic growth. Unemployment also means that people will have less money to pay income tax on and less money to buy goods and services. Consequently, the tax collection by the government will eventually drop due to the high rate unemployment. Industries constructing goods and services will be damaged as well because of unemployment as the sales of their products dwindle. Contrary to popular belief, one of the worst adverse effects is that a person who is unemployed has an extraordinary hard time getting hired. In fact, it is further proven that

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