Unemployment

contributed to this issue becoming a social problem. The issue. Unemployment is a major social problem that affects most people around the globe. In simple terms, unemployment occurs when an individual who is seriously and actively searching for a job is unable to find that job. Unemployment is a good tool for measuring the economic health of a given place. The unemployment rate is the most frequently tool used in measuring unemployment, and it relates to the number of unemployed people divided…

the country. Since a while ago the Native Americans have always been considered to have the lowest median family income between any other racial or ethnic group. “Unemployment rate for Native American workers (2006–2008) was 12 percent, then about twice the national unemployment rate of 6.4 percent” (feagin). Because of the unemployment rate being so low for the native American, it causes about 25% of Native Americans to fall under the federal poverty line. When the native Americans got kicked…

being presenting possible ways to create more jobs. In her recent post about unemployment, Marcela S. Kreiter, mentions that, " about 37.7 percent of the unemployed have been out of work for at least 27 weeks-- the long-term unemployed-- and number 3.9 million individuals" (The Issue: Extended Unemployment Benefits-- When will the congress Act?, 2014). The news channels itself have been covering many reports about unemployment, yet no results but possibilities. Maybe cutting taxes. Perhaps the…

No nation could emerge from the Great Depression without profound social, political, and economic changes. Specifically, the United States and Canada were hit particularly hard with severe unemployment and acute economic deflation. While Franklin D. Roosevelt intervened heavily in the United States’ economy, Canadian Prime Minister Richard Bedford Bennett took a more laissez-faire approach; through these solutions, it is evident that in the case of economic depression, economic interventionism…

Involuntary unemployment is a neat phrase. It is the notion that one, despite having the proper skills, bodily-health and desire to work, can be thrown out of employment. If one were to believe that having a capitalistic system necessitates involuntary unemployment, that would put you firmly in the laissez-faire camp of the classical economists. It was exactly this school of thought which Keynes did intellectual battle with. Keynes saw classical economic thought as an imperfect, to say the…

definition of unemployment is ‘the number of people without a job. There are many types of unemployment frictional unemployment, cyclical unemployment, seasonal unemployment, structural unemployment, voluntary and non-voluntary unemployment. These different types unemployment explain why unemployment is not always the result of low economic growth. Furthermore one factor which explains the reason why unemployment is not the result of low economic growth is structural unemployment. Structural…

Unemployment is a serious issue that causes negative effects both for people and for the country and its economy. For instance, job search, minimum-wage laws, unions, and efficiency wages can all explain and contribute to why some workers do not have jobs. (Mankiw, 2012) Among the mentioned causes, some definitely negative impacts of unemployment are financial costs for the government and poverty. Proverbs 21:5 New Living Translation (NLT) states, “Good planning and hard work lead to prosperity,…

Article 26 Article 26 covers the decline in the amount of people who have been filing for unemployment. Now is the longest period of time since 1970 that unemployment benefits have remained lower than 300,000 for the week. This decrease is something that economists believe will continue, many of them have even forecasted future numbers reaching as low as 260,000 applicants. These low numbers aren’t a surprise either, Octobers employment numbers were extremely encouraging at about 161,000 jobs.…

On October 18th, 2017, former Secretary of Labor, Robert Reich, came to Western Kentucky University to speak on the state of our economy. Reich began by discussing how the unemployment rate is down, the stock market is up, and there appears to be economic growth; yet, people are still unhappy (Reich, 2017). The reason for this unhappiness, Reich claims, is because we are paying attention to the wrong indicators. For one, the labor participation rate is very low. This indicator takes into account…

When it comes to technology, most will agree that its advancements play a huge role in unemployment. Where this agreement usually ends, however, is with the question of its long-term effects. While some are convinced that technology will soon create jobs, it is more likely that available jobs will continue to decrease. Peter Diamandis says that there is controversy over whether or not technological unemployment actually hurts workers or the economy in the long run. Although the rise of…