Analysis of Article about the Issue of Unemployment in the US by Bhatia - Essay Example

? Problem ment Bhatia d that a person is unemployed if they are unable to find employment despite their rigorous efforts in finding one and the fact that there are readily available for employment. Previously the issue of unemployment has been widely discussed in the American public because of the fact that the rate of unemployment had spiraled up to alarming rates. On this note, Rushe (2013) stated that the United States was posed to experienced additional problems that are normally associated with high rates of unemployment. Among this additional problems include increase in social vices such as robbery, drug trafficking or prostitution since people will be trying to exploit all possible avenues in order to generate substantial incomes to cover for their needs. Besides social evils, the high rate of unemployment especially among the graduates could have led to an increase in the dependency ratio meaning that earnings of those who are employed would dwindle significantly because of many people relying on such people, which mean that there will be less economic activities (Rushe, 2013). According to Bhatia (2013) in the recent past the issue of unemployment in the U.S featured prominently especially during the past economic crisis which crippled the economy of the country and thereby affecting the financial performance of many institutions in the country. Subsequently, during this period, there was a massive job loss for many Americans and most of the companies were financially incapable of retaining the various jobs that it had previously offered. Paul (2013) further lamented that another significant fact that promotes unemployment in the U.S is the outsourcing of various jobs from various companies in the United States to other countries where the cost of labor is quoted as being low and there is an abundant supply of qualified workers. For example, by outsourcing some of the jobs that could be done by American engineers to countries such as China and India it means that American engineers will be unable to get employment opportunities and therefore, they will remain unemployed because of the fact that American companies are keen on saving on cost. According to Rushe (2013), in the past two years, the economy of the country has made significant improvements and more Americans have been absorbed into the employment sector thereby decreasing the severity of the problem. Despite of this improvement, the Bureau of Labor Statistics noted that as of August 2013, the rate of unemployment in the U.S stood at 7.3%, which is slightly above the average mark of 5.8%. Anyway, the significant drop is not a consolation prize because it still means that more than 12 million Americans are still unable to find gainful employment opportunities. Therefore, there is a warranted cause for seeking to find a solution to this problem because according to Rushe (2013), the figures released by the U.S Bureau of Labor Statistics showed that 3.4 percent of engineers in the U.S have so far been unable to be employed. These significant levels of unemployment means that the government is also spending huge sums in paying benefits to these people while it is also unable to generate additional revenues from the taxes that could have been paid by this group of people if they were employed. Therefore, the problem of unemployment in the U.S can be quantified with the amount the government is spending on issuing benefits to this group of people and the amount of income tax it is unable to generate from more 12 million Americans who are unemployed. The proposed solution / program theory In order to tackle the problem of unemployment in the U.S especially among graduate engineering students, this present study proposed a program theory that is “employed an engineering student in USA.” Under this theory, there is posed to be minimal government intervention and more in particular, engineering students will be looked upon to solve this problem through their various initiatives or projects that not only solve societal problems but lead to the creation of numerous job opportunities. The basic foundation for developing this program theory is because of the fact that science and engineering have been mainly responsible for the current modernization that humankind is experiencing, ranging from electricity, computers, internet, vehicles, airplanes, and the various assortment of electrical appliances that have made life easier and created many job opportunities. For example, the development of electricity transformed the life of humankind; it improved the quality of life and created many adjoining opportunities since companies were able to engage in mass production, which facilitated the employment of high number of people. Moreover, other innovations were pegged on electricity, which meant that upon every innovation there was a solution to a certain societal problem and additional job opportunities for those who could implement the innovations and ensure its smooth running (Scott and Jean, 2012). Therefore, this theory proposes that for America to reduce the number of unemployment to at least less than 2%, especially graduates there should be an aggressive campaign to enroll more engineering students. Then afterwards empower the engineering graduates with adequate resources so that they can undertake various initiatives that can eliminate various problems while at the same time putting many to Americans fulltime employment. For example, an innovation by an engineer can lead to the creation of a company that will specialize in implementing the innovation and with time, the company will start to absorb employees who will cover various job opportunities. Through such a strategy there will be minimal government intervention and that will be required is for engineering graduates to tackle the issue of unemployment in America. In quantifying this solution, it can be stated that for every engineering innovation and project that will be instituted there will be available job opportunities for other people such as accountants, technicians, managers, machine operators, drivers, and cleaners, among others. The expected output of the program In the earlier part of this paper, it was noted that the current problem of unemployment in the U.S was due to the economic crisis of 2008 to 2010 and since the economy has been on a recovery path, there has been a significant rise in the level of employment within the country. Nevertheless, there is still a permanent problem of American jobs been relocated to other countries thereby denying most Americans the opportunity to be employed, but solving this problem will require government intervention, which might involve many procedures and underlying issues of politics. Therefore, to solve the problem of the unemployment the only viable alternative is to create employment opportunities without reliance on the government intervention. In this regard, this paper has proposed that since so far science and engineering has been responsible for the current modernization that humankind enjoys it will make sense for the country to nurture more engineers who will work towards creating other projects and innovations that will create employment opportunities for many Americans. The main measurable indicator for change after the implementation of the program theory is a drastic decline in the level of unemployment in the country and creation of additional jobs through the initiatives of local engineers. However, it is important to note that as soon as an engineer will be able to create a viable project, it will only be able to absorb few employees, but the number will increase if the project is financially viable, which will in turn attract other additional investors. Impact of the Program theory This program theory will first lead to a sharp increase in the number of engineering students, which in turn means that the U.S will be poised to have more engineering professionals in the few coming years. Secondly, this program theory will result in a high increase in the number of projects and innovations that will be launched by various American engineers in the few years to come. Thirdly, through the various projects that will be undertaken by the engineers it means that Americans in other profession will also be able to get gainful employment during the lifetime of these projects or for eternity if the projects prove to be commercially viable. Fourthly, by providing more Americans with employment opportunities it means that the living standards within the country will significantly increase, the government will be able to raise more taxes and the dependency ratio will drastically decline (Scott and Jean, 2012). Read More