Labor Market Policy Analysis

The unemployment rate has gone so high that it leaves families to deal with psychological and economic effects of the impact of unemployment. Unemployment has caused many people to have to foreclose on their homes. The vast majority are hit hard in the black communities.

The United States is not only one of the largest economies in the world, but it is also one of the strongest economies compared to industrialized countries, and this has been proven in the last few years. Despite of what many people believe or see, U.S economy is booming and it will continue to boom during the year 2015. In the article “When the U.S Economy is the Envy of the World,” published by the MSNBC on December 8, 2014, its author Steve Benen argues about the U.S economic recovery in order to persuade U.S citizens and show them the numbers that prove that our economy has recovered. Benen (2014) also encourage U.S citizens not “to compare the current economic recovery to other recoveries that followed modern downturns,” but “to compare our economic recovery against other countries who dealt with similar circumstances” because according to President Obama, the U.S “has put more people back to work” than any advanced economy in the world (qtd. in Benen, 2014). There are strong evidences that prove that the U.S economy is in its best year compared to three years ago. The growth of jobs, the slight increase of wages, and the low price of oil have truly helped the U.S economy recover.

A nation’s economy plays a vital role in how a nation operates. The United States economy faces a large variety of problems in this paper; we will focus on 4 major economic problems, unemployment, inequality, federal debt, and the financial/credit market. All four issues are interconnected in some way with deep social and economic implications. These issues were emphasized during the Great Recession that hit the U.S. economy in 2007.In the following paper, we will look at each of the four topics individually as well as look at how each plays a significant role in one another’s overall impact on the U.S. economy as well as individuals in the United States. The United States plays a crucial role in the world economy, meaning that every issue and difficulty faced the United States economy has implications far outside the U.S., understanding how these issues relate to one another sheds insight into just how connected every area of the economy actually is.

Though the New Deal succeeded in helping people, it largely failed in helping the economy. The National Recovery Administration interfered with the natural workings of the market by setting prices and wages, and fostered cartels rather than supporting small businesses. These cartels set wages above the market rate, which makes labor more expensive and depresses employment. High prices and a high cost of labor also means that the unemployed are both less likely to be hired and also forced to confront a higher cost of living. These measures, when combined with Roosevelt’s other new labor laws like the Fair Labor Standards Act and Wagner Act, were instrumental in supporting his program’s relief efforts and helping the workers, but they didn’t work towards supporting the business community. After Roosevelt reduced federal spending on some jobs-creation projects and increased taxes in 1937, the economy entered another recession and unemployment rose again, demonstrating that the employment created by his New Deal

The article displays how economics relates to big businesses and their lack of workers. The DACA program had allowed many undocumented immigrants to work for big companies in their lower ranks which is an essential position. Many of these companies such as Facebook, Google rely on immigrant workers such as the ones protected by DACA to provide labor which as they are willing to take up work that other citizens are not willing to do. Cutting DACA can drastically affect our GDP as the labor shortages may cause our GDP to fall $460.3 billion dollars while also taking $24.6 billion out of our Medicare and Social Security pool. The article demonstrates foreign workers are key to our economic success as they do the leg work for big tech companies

US economic recovery, a significant decline in unemployment. Capitalist countries on the economic macro-control and management has been strengthened. Powers of the federal government significantly increased. The capitalist system has been adjusted, the consolidation and development. Boldly learn from socialist countries planned economy strengths by the method of reform to save the crisis of capitalism, to avoid the fascist power.

Educating oneself about the economy is a rigorous task seeing as it has several different aspects to it. Unemployment and the related topics in the chapter sparked an interest within me. Fortunately, I was able to find an article that covered this topic in a state I’ve come to love- California. The article, “California adds 54,200 jobs in May; unemployment rate ticks up to 6.4%”, provides visual representation of the data stated and provides quotes and opinions from people among the Californian population. This produces additional support for the article. The fact that the situation is occurring in California, along with visual representations, gave reason for my decision in choosing this article.

The unemployment rate averaged 8.5% in 1975, almost 10% in 1982, and has been above 8.8% for more than two years, with little evidence of any improvement ahead.”

“a regulatory effort to incorporate benefits funds’ long-term investments”. The writer states how in many cases workers benefits have been “silent and unwitting”. This journal provides guidance to move towards a new benefit fund investment strategy for labor movements. The article mentions the pressure of short term returns drives companies to cut cost, which benefits the companies on the short run but not the employees because they get cut and reduced. This article emphasizes the history of American trade unionism. Also the industrial union development and the need of more workers caused by the war. It mentions the role of political parties influenced by “legislation passed by federal and state governments”. It many different point towards unions, the power in the market, technology and different laws that were made. Items that changes America as a whole. According to this article the speaker of the house John Boehner’s says that labor unions benefits the economy as a whole. It helps America’s economical growth. It states how people don’t like labor unions because they don’t want equality and assumptions that are made of labor unions. Evidence is stated on why certain statements are false. The article acknowledges that labor unions need adjustments and that it helps rebuild the middle class. This article will help me with my topic because it states why labor unions are

The blue-collar worker’s paycheck is dependent much on the factories and mines jobs, but those jobs are slowly going away because of the new types of businesses that have opened up today. The new businesses now require at least a college degree and some years of experience. Out of desperation the white men and women without a college degree made up a third of 2016 electorate (Tankersley). Three-quarters of the uneducated population said that the economy was pretty bad and had seen little to zero improvements on their financial situation. Two-thirds said that they preferred Trump to manage their economy rather than Hillary Clinton (Tankersley). This analysis was because of Trump’s idea to deport the immigrants that are taking their jobs away. That ideology was the spark that leads him to gain many voters on his side. Trump promised the working class whites that he would restore the old industrial economy. He said that he would accomplish that by renegotiating trade deals and tariffs on imports by deporting immigrants, that would help reduce competition from the native-born workers. He also promised economic growth from tax cuts, deregulation and more drilling (Tankrsley). However, Trump’s ideas on tariffs will technically not bring back jobs because he relies on unreliable sources and is always inconsistent with his

Since the enactment of the Fair Labor Standard Act in 1938, the minimum wage rate has been cause for much discussion. In more recent years, the public has made a push to raise the minimum wage to $15.00 an hour. During his State of the Union address, President Obama, shared his views when he stated “… And to everyone in this Congress who still refuses to raise the minimum wage, I say this: If you truly believe you could work full-time and support a family on less than $15,000 a year, go try it. If not, vote to give millions of the hardest-working people in America a raise.” Pennsylvania Governor Tom Wolf has made it well known that he wants to raise Pennsylvania minimum wage to $10.15(Ye Hee Lee, 2015). Early this year, Gov. Wolf signed an

There have been many polls analyzing which issues the public was most concerned with in this presidential election and all of them had jobs or economy as the chief concern and Donald Trump made many promises concerning

The Department of Labor is a department of the federal government who is responsible for promoting and fostering the wellbeing of individuals in the United States who are currently working, seeking employment or retired. “The DOL is directly related to business communities in the United States by its official charge to foster, promote, and develop the welfare of wage earners of the United States; improve their working conditions; and advance their opportunities for profitable employment” (Shuman, 2013). Their website features a health plans and benefits section that focuses on employee rights regarding benefits. This website helps individuals understand their rights to benefits as employees in the United States. It is also helpful for

Immigration is important for the growth of the economy because it’s a major contributions towards the economy. The United States has often been referred to as a global melting pot due to its assimilation of diverse cultures, nationalities, and ethnicities. Today, this metaphor may be an understatement. Edstam and Carlson an immigration activists reports that, without the extra work and consumption provided by immigrants, the economy of the United States would collapse. They include in the article saying that, despite the common notion that immigrants steal jobs from Americans, the 2005 Economic Report shows that The Federal Reserve in fact recently raised its benchmark interest rate because it observed a strengthening U.S. economy with reduced unemployment, rising wages and some labor shortages Immigrants continue to strengthen local economies through their higher productivity and increased consumption (Edstam and Carlson). An article by Savajlenka added, Studies show that competition with American workers among immigrants is very minimal and limited to the unskilled labor. Therefore, Savajlenka immigration analyst states that, “Numerous studies have documented that immigrants are needed to replace the large number of retiring Baby Boomers and that the future growth of the U.S. workforce will come from immigrants and their children” (Savajlenka). This is an additional like a shot in occupations that presently use several older employees, like janitorial and truck driving

In this presentation I will compare two articles on the latest jobs report published by the U.S. Department of Labor. I will contrast Danielle Paquette’s article “Job growth slumped in August” with Nelson D. Schwartz’s article “Manufacturing Is a Bright Spot in a Subdued Jobs Report”. I will first begin by simply looking at the tone of each title, as that is the first thing that catches the reader's eye.