Demographic Breakdown of Unemployment and Non Labor Force Workers in the Nation

1522 WordsSep 20, 20077 Pages
Demographic Breakdown of Unemployment and Non Labor Force Workers in the Nation There are many different age brackets, genders, and ethnicity that make up unemployment in the labor force. Some of the same people who were once in the labor force also make up the workers who are not counted in the labor force anymore. Unemployment is important to the economy and the society that we live in because the more people without any jobs and/or not having a legitimate source of income will increase crime, poverty, political unsteadiness, downgrade health standards, and mental health problems. Unemployment can also cause underemployment which is not good for the economy. Underemployment, in one of its usage, is defined as the employment of…show more content…
Both genders from ages 55 to 64, 1,384 workers have lost their job. Also, the same age range has 22.5 percent unemployment rate and 20.1 percent not in the labor force. Men who age from 55 years to 64 years have a 19.8 unemployment rate and 19.6 are not in the labor force. 709 men of this age are workers who lost their job. Women have a 25.4 percent unemployment rate, 20.7 are not in the labor force and 674 have lost their jobs. Both men 's and women 's non labor force participation rate have increase significantly because more people are retiring early. People can retire early because of more ways to invest your money than before like stock market which a person can do themselves or a 401K plan which the company you work for offers you. Also because of better wages than your grandparents earned when they were in the labor force. Workers who age from 65 and older, only 271 have lost job. The unemployment rate is 14.3 percent and 61.1 percent are not in the labor force. Men contribute 101 lost jobs while women contribute 169. The unemployment rate for men is 13.5 percent while the women have 14.9 percent. 64.4 percent of the women are not in the labor force while 55.4 percent of men are not in the labor force. Both men 's and women 's non labor force participation has dramatically increased. This is caused by a lot of men and women retiring from the labor force. Most people at this age just cannot do the things they were able to do when they were

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