Broken Basic Bargain Analysis

Unemployment rate also had bad effect in America due to 9/11. The unemployment rate was just 4.9% in 2001 before the 9/11 attacks. But after the attacks, approximately 600,000 jobs were lost. Of those, 226,000 jobs were in travel and tourism. Not only that but also 1,100 businesses were disturbed at the World Trade Center. The unemployment rate was 5.7% in the end of the year (Miley). In 2011, the unemployment rate was 9.1% and as of October 2013,

The unemployment rate has dramatically increased over the last several months. This increase has created many complications for the American people. Although the United States economy has created over 7 million jobs, there is still a long way to go until the economy is back on track.

The Bureau of Labor Statistics reported that as of 2015, 100% of married couples had at least one family member employed, including 19.4% of married-couple families had no one working. In 36% of that 100, the man was employed in that relationship. The possible reason why so many Americans aren’t working could be due to the fact that the way money is distributed in America isn’t what the people think it is, and it isn’t even close to the ideal. Uneven distribution of wealth is the cause of poverty is the United States, and here’s why.

“Despite huge advancements in technology and productivity, millions of Americans are working longer hours for lower wages. The real median income of male workers is $783 less than it was 42 years ago; while the real median income of female workers is over $1,300 less than it was in 2007. That is unacceptable and that has got to change.”

So as more people want jobs, they find those jobs are out of reach or they find other problems that are more important to them, leading to less and less jobs are filled every day. And the result leads to more unemployment. the unemployment rate is currently heading down slowly but the hire rate of people under the age of 50 to find jobs has stayed roughly the same over the years. So if the 41% of people cannot contribute to the cycle, leaving 59% of Americans to pick up the pace for everyone. But According to David Akadjian in the past 50 years, Americans have to work up to three times as much for the exact amount of pay, in 2013 the median wage was $27,851 and in 2017 it has only moved up 3 percent higher. so if you had a family of 5 or more you would be under the poverty line. But to look back to the median wage, it is a livable pay for a majority, and there a certain ways to deal with this without getting into poverty. but the problem is if fewer people keep getting jobs and the people with jobs on average, they are getting paid less and less for work. America will begin to topple on top of itself.

Firstly, poverty brought on by the Great Depression spread throughout the country and made unemployment increase significantly. The output of crops in the Midwest significantly decreased because of the winds and dirt deposits onto the crops of the Dust Bowl. In Text 4, Franklin Delano Roosevelt states, “a host of unemployed citizens face the grim problem of existence…. Our greatest primary task is to put people to work.” The quote represents the fact that unemployment in America was in such a bad spot where the government needed to step in and help the majority of the people who were not financially stable. Another cause why American economy crashed is because employers realized that people would do anything for work and work for just about anything, so their immediate response was to lower worker’s wages so the employers made more money. It says in Text 3, “The volume of manufactured goods dropped sharply, as did the national payroll. The response was to lay off workers, slash dividends, reduce inventories, cut remaining wages, forgo improvements and reduce production.” The quote depicts economic struggles workers dealt with throughout the Great Depression and Dust Bowl. Overall, unemployment gripped the workforce of America, making it the worst economic depression America has ever been in.

In the U.S., the primary source of income comes from jobs. However, people are unable to find jobs because businesses are outsourcing unskilled labor to developing countries since workers there are willing to be paid less than the average American worker. This creates problems for people who are trying to look for jobs because many lack the skills to function in a job that requires skill and will remain jobless until they find unskilled labor jobs. Since the Recession, working class families who had lost their jobs are struggling to survive due to the little job availability (Heritage Foundation, 2011). Because the majority of working class families are suffering from prolonged

America, where the famous so-called “American Dream” was born, used to be the most influential nation in the world economy. However, since the Second World War, America’s economy has been in a free-fall. The “American Dream” is now only a remnant of long lost heydays. The reason why America has gotten to this dreadful situation may lie in the path that its government chose to develop. For instance, the truly needy do not have enough support from the Social Safety Net programs to get out of poverty: the tax systems should be progressive instead of regressive; wages and benefits are not equally allocated among the workers and the bosses, and there has been no attention to the maintenance and improvement of infrastructure for a very long time. In order to alter the unpleasant-big-picture of poverty and inequality, America needs better funding for the safety net programs, restructuring of the tax system, adjusting wages and benefits for both employers and employees so they can maintain their jobs and pay their bills, and ensuring that the federal government pay more attention to the development of infrastructure along the way.

Currently the unemployment rate is twenty-three percent (Roberts). That is a very high rate compared to past when

But even the strongest economies struggle sometimes. It is because of this economic rollercoaster our country has been experiencing for the past decade that this beautiful, iridescent, silver Dream of ours has taken on a bit of tarnish .Our current generation faces mass unemployment, the levels of which have not been seen in decades, our generation of young adults faces record levels of employability as well as overwhelming college debt.

As of February of 2016, “the unemployment rate in America was recorded at 4.9 percent, unchanged from the January rate and remaining at its lowest

From 2008 to 2010, a recession plagued the United States’ economy. Although occurring from dissimilar causes, this recession reintroduced research and discussion on the source and length of its nearest equivalent, the Great Depression. The Great Depression was the most severe and damaging occurrence to affect the world since the beginning of the 20th century (Tavlas). Modern economic views on the Great Depression of the 1930s differ considerably; however, there exists a consensus on the idea that the Depression was worsened by elements such as inflexible wage rates, augmented labor costs, and the distribution and consumption of labor resources. In many eyes, the government was to blame, especially regarding the New Deal, a legislative platform that encouraged greater collective bargaining, a legal minimum wage, and unemployment insurance.

The American stock market has crashed and the nation has been run into the ground. What once was a fast developing nation has had the brakes put on and is fighting to get buy. Work conditions were poor. Kids working dangerous jobs and getting killed daily. Men were being worked and weren’t even paid enough to survive on. Women had to join the workforce. In what seemed to be a never ending depression, Americans managed to

Every American dreams of finding a job that pays well enough so that they may comfortably take care of their loved ones and themselves for years to come. Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Unfortunately, many do not have this luxury. In our society, a good portion of the population is forced to hold the base of our country in place while hardly being redeemed for their time and effort, and thus the problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible.

The term “basic bargain” became a relevant term in American during 1947 to 1975 better known as the Great Prosperity. The country was providing the workers with enough money to buy what they had produced. This bargain wanted to make sure that the pay of the “workers coincided with their output” (p51). It was during this time that mass production and mass consumption went hand in hand. This was also a time that brought the nation to “more than halfway to perfect equality” (p43).