The Unemployment Trend Of The United States Essay

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.

Unemployment: As can be seen in Fig 3 below, the unemployment rate in Australia has recently dropped below 5.8%, which is the lowest it has been for over 20 months. This is despite the economy struggling over the previous 12 months due to a fall in investment in the mining industry. This has led to the Reserve Bank of Australia (RBA) reducing interest rates on two occasions in the past 12 months to encourage the non-mining sectors of the economy to fill this void and invest in resources, but some businesses are still reluctant to spend money. NAB economist Tapas Strickland said he expected strong jobs growth to continue into 2016, stating “ The forward indicators, such as jobs ads, suggest employment growth of 2% a year, and when you do the calculations, that implies 20,000 (jobs added) per month”. (Guardian, 2015).

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.”

The better-than-expected data from the Labor Department on Friday follows other hopeful economic indicators this week, including an upward revision for economic growth in the third quarter on Thursday and an uptick in manufacturing reported on Monday.

The U.S. economy has many elements of markets that had seen either an increase or decrease from activity or production. Beside these other markets (such as gasoline, or airplane seats) there has been a steady growth of the Real – Estate market. Due to these slight increases in the housing market, there can now be other positive effect throughout the U.S. Firstly, with the steady increase within the housing market, there’s a better chance of an economic growth. Secondly, the unemployment rate will steadily continue to decline from housing sales. Thirdly, there will be more work opportunities offered.

In the modern American society, many well-educated people cannot get a good job, such as Jennifer, an American woman who lose her job and get a low-paid job but she gives up because the salary can’t afford the expenses of the whole family. According to the latest article on Market Watch website, Jeffry Bartash showed the data about the current percentage of unemployment and assumed that though the firms offer many opportunities to work, the unemployment rates still remain the same as before.

Fiscal policy, as we know it today, is meant to mitigate unemployment and stabilize the economy through aggregate demand. Despite dismal unemployment numbers, politicians and policy-makers continue to use and be optimistic about the effectiveness of fiscal policy in this regard. Policy as we have seen over the past five years has had dismal effect on the unemployment numbers we are seeing today. It seems we need a policy that will tackle lagging aggregate demand as well as the employment problems. A direct-job creation effort will work to create the differences in aggregate demand and effective demand creating equilibrium and filling the void that the current Keynesian fiscal policy leaves.

A study done by the Congressional Research Service survey the long term unemployed and found several findings about their characteristics. For instance, the long-term unemployed are more often male than female. Men were also more likely than women to be out of work for two years or more. Unemployed workers were more likely to be younger than older. However, older workers were more likely than younger workers to have been out of work for two years or more. A large share of unemployed workers had never been married. But, among unemployed workers, married workers were more likely than workers who had never been married to have been unemployed for two years or more. In terms of education, the majority of unemployed workers had a high school education or less. But, unemployed workers with a high school degree only or with a bachelor’s degree or better were equally likely to have been looking for work for two years or more (Mayer, Gerald).

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.

With an unemployment rate of 4.9% we are basically at full employment and 2.5% of those employed being college students who have graduated. Also labor markets are thinking to increase the hourly earnings. Total payroll employment is higher than the six hundred thousand in the last three months, and the ratio of employment to population, which has been low for several years, has been much better. Michael Montgomery an economist shares that with the 4.9 percent, employers have to compete harder to attain their workers, which means

There are three types of unemployment: frictional, structural and cyclical unemployment. Frictional unemployment includes workers who are in between jobs, searching for jobs or waiting to take jobs in a short period of time. For instance, people who left one job for another, or were fired and are looking for reemployment, or had to left work temporarily either because seasonal demand or personal situation. Frictional unemployment is inevitable but in some cases can be beneficial because some of the “workers who are voluntarily between jobs are moving from low-paying, low-productivity jobs to higher-paying, higher-productivity positions” (McConnell, 596). Structural unemployment includes workers whose skills are either not demanded or not sufficient for employment, and workers who “cannot move to locations where jobs are available” (McConnell, G29). Structural unemployment

Employment At-Will gives the employer the right to terminate employment at any time for any reason, except an illegal one. In turn an employee can leave their job for any reason without any adverse legal affects. The purpose of this paper is to examine Employment At-Will and the advantages and disadvantages to both the employer and employee. It will analyze various workplace scenarios and determine the cause and effect. It will also examine the state of Georgia’s At-Will policy and a recent case involving it.

With the rise of 12,000 newly unemployed people in the recent quarter, the government has seen the end of unemployment falls. This seems to continue into the near future, with no relief yet prominent in the issues of less demand and decreased consumer spending. Further, more people are continuing to lose their jobs and this will only cause the reduction in spending power of families, decrease money in the economy and increase in reliance upon the state. (William Schomberg and Christine Murray 2013)

Despite uneven monthly jobs data, the economy’s labor utilization continued to rise. In January and February, 201,000 and 266,000 jobs were added, respectively. March jobs numbers, however, were disappointing adding only 119,000 jobs causing the unemployment rate to stay unchanged at 5.5% in February and March. Nevertheless, the unemployment rate continued to fall in the first quarter and the trend continued in April and May. Total number of jobs added in the first quarter was 552,000. April job numbers confirmed that March was a one-off dip, adding 221,000 jobs, which brought the unemployment rate down to 5.4%. Although 280,000 jobs were added in May, unemployment rate was recorded 5.5%, due to an increase in the civilian labor force by 0.25% compared to a 0.1% increase in April.

Unemployment is when a person who is vigorously looking for employment and is incapable to find work. Unemployment can affect people in a wide range of ways. The effect of idleness has far-reaching consequences. Even those who don 't undergo layoffs in an office may find that their jobs or their personal lives have been destructively impacted.