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Program Theory - 2 - Essay Example
Author : ottishammes
Logic & Programming
Pages 6 (1506 words)
Problem statement Bhatia (2013) stated 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…
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. ...