Unemployment Rate Of The United States

The unemployment rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. Unemployment is termed as a major health of the economy and every country tries to reduce unemployment rate for sustainable growth. It is referred as the number of unemployed workers divided by the total civilian labour force. Every economy tries to ensure full employment in the country but there is the existence of natural rate of unemployment though nation tries hard to obtain full employment in the country.

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.

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.

Some costs are expensive: freight cost from China, inventory (lead-time increase because of shipping), and quality control (testing shipped products from China in the US require some cost; time and money)

Beginning with unemployment in the 2007-2009 recession, U.S. unemployment rates peaked at 10% as well as held 41 consecutive months at rates higher than eight percent (Lazear 1). The U.S. economy plummeted during this time; many attributed the shift to a large decrease in the number of employed workers. To be able to better understand the unemployment issue, we must first examine the form of unemployment faced by the U.S. economy. Many believe that the changes faced by the U.S. labor market

As of March, 2013 the U.S. National Unemployment rate was 7.6%. A total of 11.7 million people were reported as unemployed by the Bureau of Labor Statistics. This rate is improved from the height of the recent recession, where the statistic floated around 9%, but it is still not the usual 3-4% figure we are used to seeing in regular market conditions. (bls.gov, US, 2013)

Since the early 2000’s the unemployment rates of the United States have been constantly changing. For most of this time unemployment rates were increasing at a quick pace as the country was dealing with internal financial issues of its own. When people are out of work the rates of depression and crime seem to skyrocket. This is due to the lack of funds coming into a home which result in some less than admirable acts being committed. There are many causes of unemployment and many effects that unemployment can have on not only our economy, but our personal lives as well.

One of the downfalls resulting from the Great Recession is the unemployment rate. Approximately 14 million Americans remained unemployed and about half of them were unemployed for over six months. Of that 14 million, 11.3 million of them were barely working, and if they were employed it was mainly part time jobs. Some felt that it would take over a decade to get unemployment rates back to 5%. With unemployment rates raising it also can affect the education of our nation and the future of our nation. The children's education is affected because a lot of them are switching schools and districts due to their unstable conditions at home. More and more parents are out of jobs which makes it hard for them to support their children financially in

While there are expectations of a yearly gain of nearly 2.3 million net new jobs, the unemployment rate is still very high i.e. around 6.5 percent. The lower-than-expected job growth is fueled by various factors including government hiring, weather, and Obamacare. Actually, similar to December, January had a lower-than expected increase in job opportunities since only 113,000 jobs were created. However, the rate of unemployment still reduced to 6.6 percent in this month despite of the growth in labor force. The current rate of unemployment is the lowest in U.S. since the 2008 recession because more people are leaving the labor force instead of finding jobs.

For each item China produces for the United States, it helps China’s economy. China would definately not produce goods if it didn’t benefit them in some way. China’s economy continues to prosper everyday because they continue to produce and sell goods to other countries. Prices in China are a lot cheaper in comparison to the United States. Factory workers do not make a lot of money, but they make good money for the work they do. The average China factory worker makes $500 a month, but keep in mind that the prices in China are lower than the United States. These are the reasons that China chooses to produce goods for the United

With more American’s working they can provide better for their families, saving the government more money on benefit programs and giving the people more money to spend and put back into the economy. Everyone has their own hand and part in lowering unemployment rates from the federal, state and local government. The federal government and a presidents desire to make changes has the ability to have the biggest impact on lowering unemployment rates. “Since Obama took office the unemployment rates are at a 8 year low of 4.9% and the U.S. economy has added 8.7 million jobs” (Reese,

The problem of unemployment could be solved through the welfare system. Nationwide, we need to take a look at both unemployment, as well as underemployment. Underemployment plagues the U.S. and is extremely detrimental towards the overall health and well being of the economy as a whole, and for the economy of the individual.

According to the chart below leading up to the 2008 crisis the unemployment rate hovered right around four to six percent. This percentage is right around where we are hovering today. After analyzing the aforementioned FRED Civilian Unemployment Rate chart1 the leap in unemployment rate can be pinpointed to 2008 after the housing bubble popped. The jump was quite substantial beginning in February of 2008 at 4.9 percent and peaking in October of 2009 at 10 percent. This steep jump was caused by the companies going into debt due to the recession and having to cut expenses by laying off workers. What does the Troubled Assets Relief Program have to do with this? While at first sight in the eyes of the public TARP was extremely disliked as the public

According to the labor market data from the January 6, 2017, Current Population Survey, the current adult unemployment rate statistics in the United States by gender, age, and race, are: men (20 and over) 4.8%, women ( 20 and over) 4.7%, Whites 4.2%, Blacks 7.9% and Hispanics 5.9%. Current government programs that exist to help try to fix this growing national pandemic are, ones like the Unemployment Compensation program, which provides income support to the unemployed, through the payment of Unemployment Compensation benefits.

The economy as a whole has a general unemployment ration of 4.3% out of a labor force of 5.233 million. In 2013 the majority of the workers are in the state sector at 72.3%, and the rest in the non state sector at 27.7%. This is a change from 2011 when the majority of the workers were in the services at 63.2%. The other two sections split between agriculture at 19.7%, and industry at 17.1%. The industrial market consist of sugar, petroleum, tobacco, construction steel, cement, agricultural machinery, pharmaceuticals, and nickel. The natural resources are cobalt, nickel, iron ore, copper, manganese, salt, timber, silica, petroleum, and arable land. The agricultural market consist of sugar, tobacco, citrus, coffee, rice, potatoes, beans; livestock. The exports in 2013 were 6.252 billion consisting of sugar, nickel, tobacco, fish, medical products, citrus, and coffee while the exports were 13.6 billion importing things like petroleum, food, machinery and equipment, chemicals. In 2007-2012 they had 5 major export trading partners being the “Netherlands at 24.5%, Canada at 20%, China at 9.3%, Spain at 6.4%, and Venezuela at 4.9%”. There are 8 import countries are being “China at 13.4%, Venezuela at 13%, Spain at 12.6%, US at 7.7%, Canada 7.4%, Germany at 5.9 %, Italy at 5.1%, Mexico at 4.5%”. There are two official currencies in Cuba. They are the Cuban convertible peso (known as the Cuban dollar) and the peso. The convertible peso was introduced to reduce the