Unemployment Rate: Statistical Summary and Analysis

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.

Whether it is high or low, the unemployment rate has proven its ability to have a strong negative impact on individual firms and organizations. As of December 2014, America’s

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

Unemployment rate, one of the biggest macroeconomic indicators. Unemployment rate controls the rate of the economy, or GDP. If unemployment rate drops from 9.1% to under 5%, the entire economy would benefit. The job market would increase, total products produced would increase, and the overall standard of living would also increase. Employment is a key economic factor that affects all things economic.

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

The author concludes that it is better for San Perdito residents if they voted Montoya leave and reelected Varro as city mayor. To support this argument the author states that population increased and unemployment rate drop during Varro served four years ago. Moreover, the writer points out that the years during Montoya is city mayor, not only unemployment rate is high but also two businesses have closed for each new business that has open. While this claim is somewhat convincing it is not sounded, because its line of reasoning is not compelling.

Additional strict guidelines will require a background check in order to ensure that the individual has no outstanding warrants. Like welfare, it is important that we supervise that government funds are going towards individuals who are really in need of assistance while remaining productive in order to not longer require governmental assistance. Another strict guideline would be that individuals requesting for a Universal Basic Income must be registered voters in an effort to help boost voter turnout. Individuals requesting for a Universal Basic Income will also need to show proof of unemployment that will lead to a drastic search or adaptation. For example, skilled workers with a specific skill set will have a more difficult time looking for jobs.

primarily concerns about the health of the economy where the business operates. Which can be measured by looking at the GDP which is the value of all final goods and services produced within the country in a specific period of time, unemployment rate calculated by taking the number of people that are unemployed. Consumers confident to spend money, as well as the interest rate rising and inflation (which is an increase in the prices of goods and services). The economic factors can affect the production as businesses should make a decision to reduce or increase the production due to the economic environment. capital spending and labour force should be considered in case of recession as a business may cut their investments and expansion plans,

This policy explains the unemployment in Florida. It was effected on July 1, 2011. This lowers the employer’s taxes for different features through implementation The people that are obtained for unemployed can have 50% or more of their wages up to $275 a week and they also can get the payments to 26 weeks. Even if you have a part time jobs, you can still get a check for unemployment but the payments will we shorter a $1 until they earn eight times of federal minimum wage. One man in Tampa, Florida said that he was denied for unemployment help because of the bicycle accident. He was unable to work so he applied for unemployment he got denied the benefits because the applicants said he was able to work still even though he was injured.

Furthermore, unemployment leads to domestic problems. Head of the family is responsible for earning money; however, if unemployment occurs, children may suffer from having a good education provision, received stress impact from their parent due to financial constraints. Children may not able to attend schools as the family is unable to afford the necessary school supplies.

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.

Recession is an economic phenomenon that comes in a cyclic fashion. Recessions generally occur due to an effect of adverse demand shock. Unemployment is one of the most prominent effects of recession. Due to the economic downturn, companies try to save money rather than investing it in a production process. On the other hand, the consumption power of the consumers also reduces by a significant level. These factors have a serious impact on the employment level. After the recovery from the recession period (2007-2009), although the unemployment rate reduced gradually, however this trend has not shown the entire picture. Most of the employers have recruited part-time employees during this period. Though the number of full time employees is

Note: Unemployment rates are drawn from the Bureau of Labour Statistics’ website. http://data.bls.gov/pdq/SurveyOutputServlet. GDP per Capita data is drawn from the World Bank. http://data.worldbank.org/indicator/NY.GDP.PCAP.CD?end=2015&locations=US&start=2006.

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

According to Delong & Olney (2006), macroeconomics are studied six key economic indicators such as gross domestic product (GDP), the unemployment rate, the inflation rate, the exchange rate and international trade policies. GDP and the unemployment rate are the most important which directly and immediately affect business strategies. For example, GDP is one of measurements of long-term economic growth which can imply that how well the firms in that country produce goods and services. GDP may have a direct effect on company’s sales and income because these two measurements could explain a company’s current performance and plan the cash flow to the company’s continued survival. When economic growth increases, company tends to increase more investment, stockholding and employment. Worthington, Britton & Rees (2005) identify that a high rate of unemployment could imply many labours available for companies seeking workers, and then failing to match employees who willing and can to work with companies could use their skills and labour power to produce useful goods and services. On the other hand, the high level of unemployment could decline overall goods and services demand due to the reduction of