The Role Of Unemployment Rate In The United States

In any economy, no matter whether it is controlled by the government or by free markets, people need to work in order to support it. The government does not generate tax revenue by magic. There have to be people in that economy earning an income to ensure that the government continues to collect taxes. In a free market economy, the same applies because there are some services which only an organized government can supply (such as protection from extra-national threats), but there also those which the people get for themselves because of the working of the markets. In any scenario, unemployment is, at the very least, a drag on the economy, and it can be much worse. This paper examines how the unemployment rate in the United States is underreported, and how that fact effects the sluggishness of the present economy.

In an area where so many households require two incomes in order to survive, child care has become a necessity. Unfortunately, there are many issues within the daycare structure that impair parent’s ability to go to work, or forces parents to take time off they cannot afford. The parents who are unable to work because the cost of daycare is too expensive that face issues with gaps in their employment history, which reduces their future ability to be hired and the pay rate they will receive. Parents who end their children to day care, but the day care does not cover all of the hours needed face the issue of missing work, therefore making a bad impression upon their employer. The Daycare system needs to be more affordable and offer more hours in order to be a greater benefit to families.

In 1932, there were a major effect on unemployment because of the result of the great depression. The government gave million’s relief money but that wasn't enough for the people to survive with. Also there were a domino effect on the united states government because there wasn’t enough taxes getting paid and consumers spending was decreasing.The decrease in spending had caused a reduction in public money available for public services which caused a effect on closure of schools which caused teachers to be unemployed.

Unemployment rates were essentially higher in August in 6 states, lower in 3 states, and stable in 41 states and the District of Columbia, the U.S. Authority of Labor Statistics reported today. Ten states had eminent jobless rate diminishes from a year prior, 5 states had increments, and 35 states and the District had no noteworthy change. The national unemployment rate stayed at 4.9 percent in August and was minimal not quite the same as that of August 2015.

Many people believe that their job defines their place in society and that productive, con-tinuous work is one of the elements needed for a happy life. Therefore, when a person becomes unemployed, he/she may lose hope, disrupt relationships, become depressed or sick, and even su-icidal. “Long term unemployment can often be financially, emotionally, and psychologically de-structive” (Krulick). In order to maintain a place in society, a person must be able to pay bills, support a family, and contribute to the community. Unemployment in the United States is a ma-jor social problem; better plans should be started by the government to help reduce the

In the United States, nearly all of the citizens are trying to look online or the newspaper to find jobs, so they can’t get nutritious food, medical care, have warm clothing, and have a roof over their heads. Half of the unemployed people are homeless, they are going through the smelly, dirty trash bins to get food in their stomachs and also their kids (if they have any). They are live in small,brown, moldy cardboard boxes or sleeping wherever they can to survive. There are about 5.5 percent of people in America that are employed even with a college degree, however, “people who lack high school diploma or GED make up a quarter month 2014 to date” (Bolen). Unemployment is the one of the biggest poverty problems in America. But what is unemployment? Unemployment is described as when people are looking for job within the past four weeks and can’t find work, however, it can also mean an economic condition that is marked by the fact that individuals actively seeking jobs remain unhired (Unemployment Definition). Unemployment affects the United States economic system, and the society in this nation.

The main role that unemployment rates play in social stratification are the facts that people is afraid to lose everything they worked hard for and of becoming homelessness. Whenever unemployment starts to go higher and higher in the country, this pretty much defines the beginning of a recession and of a new era. There are plenty of job losses due to layoff’s, house being foreclosure due to nonpayment, credit cards being completely maximized, and amongst many other things during unemployment rates sky rocketing and recession times. Ritzer explains at the beginning of Chapter 7 “However, social stratification involves hierarchical differences not only in economic positions but

In the Wall Street Journal dated September 6th 2013, an article titled, ‘Unemployment Drops for the Wrong Reasons’ describes how unemployment has dropped in the United States based on the latest Bureau of Labor Statistics population survey. According to Izzo (2013), there was a drop in unemployment rate to 7.3% by 0.1% in August 2013. This was coupled with a drop of broader measure of unemployment by 0.3% to 13.7%. On closer scrutiny, the drop in unemployment came from wrong reasons (Izzo, 2013). The arguments in the article are that the decline in the rate of unemployment is purely due adverse factors in the US economy. The 0.1% was approximately equal to 115,000 people.

This essay is based on the Federal Reserve Open Market (FOMC) statement released on 07 –15 –14. The release describes the state of the economy in terms of the following macroeconomic indicators: a progression towards maximum employment, increased price stability, and rebounding growth of real gross domestic product. The essay presents a discussion of the Federal Reserve’s mandate and the state of the US economy as of the month of the press release and the proposed policy actions. The following two indicators – employment and inflation– are of particular interest in this essay.

As Kimmel (1998) states: particularly for single mothers, inadequate childcare options can be a obstacle to labor force participation. Without sufficient childcare, the trials of motherhood and employment can be taxing.

Unemployment is a simple term in itself but the concept is not as clear-cut as it may suggest. Unemployment is a key macroeconomic indicator used by policymakers to determine the economy’s performance relative to it’s productive potential (OECD, 2014). However, for it to be a reliable indicator there must be a commonly accepted definition to allow for comparison. The United Kingdom follows the internationally agreed definition of unemployment set by the International Labour Office (hereinafter: ILO) as “Anybody who is without work, available for work and seeking work. This includes those who have actively sought work in the last 4 weeks, available to start work in the next 2 weeks, or is waiting to start work in the next 2 weeks” (Geneva 1982, Cited by International Labour Office). The Labour Force Survey (hereinafter: LFS) is a sample survey covering a three-month period that is consistent with the ILO definition, this allows for cross-country comparisons. It is a direct assessment of unemployment is used to establish those that are employed, unemployed or economically inactive. Another means of unemployment measurement is the Claimant Count, it’s a by-product of administrational data collected by records of those on job seekers allowance. For the sake of this essay I will not be focusing on the Claimant count due to it underestimating unemployment figures- as seen in below in Figure 1.

Unemployment Deferment – 12 months per Request (interest accrues monthly) maximum number allowed: up to 36 months/life of the loan. The Borrower has to submit evidence of receiving unemployment benefits/verify employment agency enrollment/show proof of previously granted Unemployment Deferment through another servicer.

However, Arendt does use work and labor simultaneously in the fact that they both can be exchanged for currency, which is a necessity in life. Arendt explains that both the need for work and labor in our society has decreased rapidly. She states, “Whatever we do, we are supposed to do for the sake of ‘making a living’; such is the verdict of society, and the number of people, especially in the professions who might challenge it, has decreased rapidly” (127). Tying this into the detriment of a high unemployment rate, we currently have a 5.5% rate of unemployment. To make this more realistic, nearly 1 out of every 35 people is unemployed. Our highest rate of unemployment was nearly double it is today at 10% in 2009 (BLS). Showing that a good portion of 16 million people are only consuming rather than doing both consuming and producing. This large percentage of citizens not contributing to the production for society takes away from the progression of our society succeeding, which in turn keeps our society from advancing.

Unemployment has been a big issue in the United States for many years and is still a big issue today. Although the big problem that we’re still facing is the difference between blacks and whites. The overall unemployment rate for black americans is 7.4% and for white americans it’s 3.8%, that’s a very big difference between both races. Policy makers accept this problem as normal and no one does anything about it to make things right. Also people don’t realize that black americans have a harder time finding a job that pays them good.

Money is essential to any individual looking to have a decent lifestyle; labor is the avenue through which this is acquired. The economy goes through various fluctuations in activity causing unemployment to fall, rise, or level out. What this creates is the first type of unemployment, known as cyclical; frictional is the second type, caused by a temporary leave (for whatever reason) by the employee, and structural is the third type, varying with the economic changes in demand. The absence of unemployment at its maximum level is termed full employment, another version of unemployment. The term encompassing the sum of the frictional, structural, and, yet another type of unemployment, surplus unemployment is that of the natural rate of