StudentShare solutions
Triangle menu

American unemployment and how it effects the economy - Essay Example

Nobody downloaded yet

Extract of sample
American unemployment and how it effects the economy

t 2010) article discussing the same report indicated similar positive indicators and speculated on the nature of the connection between the economy and the unemployment figures. It attributed the lowered rates to both the general flux of the economy, and the most recent stimulus package. It states that, “All the well-known private economic research firms estimate that it’s had a huge impact. IHS Global Insight, for instance, says the economy has about 1.7 million more jobs today than it would have had without the stimulus.”
While one would conceivably believe this to be indicative of a recovering economy a number of researchers argue that the percentage change is not as beneficial as observers might believe. Cook (2010) discusses that overall the unemployment rate remains awful, “men (10 percent), teenagers (26.4 percent), African-Americans (16.5 percent), and Hispanics (12.6 percent).” Other negative indicators are that the number of people who have been unemployed for 27 weeks or more has actually increased with this report, and that the amount of people who have stopped looking for work has increased to over 1 million, from the 500,000 figure of last year. It is also estimated that for the economy to keep pace with population growth, and the unemployment numbers to at least remain stable, the country would have to produce more than 140,000 new jobs per month (Leonhardt 2010). Other researchers state that the findings also indicate that the recession is worse than was originally assumed. The New York Times (Leonhardt 2010) stated that the reports indicate the economy had 1.4 million fewer jobs last year than was originally reported.
An Economist (2010) article points out that even when the economy begins to recover certain job sectors may never see pre-recession employment figures. It argues that, “The past decade’s jobs in retail and in entertainment were largely supported by household borrowing. Not only is a new wave of borrowing unlikely to ...Show more


In a Newsweek article that considers these figures, Cook (2010) identified a number of causes for optimism. Cook discussed the positive correlation between jobs increased in…
Author : katheryntillman
American unemployment and how it effects the economy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"American unemployment and how it effects the economy"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Effects of Structural Changes in the Economy of United Kingdom and How the Labor Market is affected
Thus, any economy should be given a lot of attention on its improvement and towards making life easier for citizens of a country. Dynamism of the national, regional and global economy often affect people’s livelihood through different changes that affect the ability of an economy to employ people (Erdem & Glyn 73).
14 pages (3500 words) Essay
The Effects of the Credit Crunch Impacted the UK Population In Terms Of Lending, Mortgages And Unemployment
These concepts, methods, processes and trends of the profession are described in sections 3.1 to 3.4 and the results of the literature review are concluded in section 3.5 3.1 DEFINITION OF THE CREDIT CRUNCH A credit crunch is defined by Bernanke and Lown (1991) as a decline in the supply of credit that is unusually large for a given phase of the business cycle.
4 pages (1000 words) Essay
How unsustainable the American economy is
This also led to the closing down of many major financial institutions that went completely bust. Liquidity was a major problem and still is in America. The bailout package did very little and the recent down gradation of the credit rating of American economy suggests the same.
4 pages (1000 words) Essay
Imperfect Markets and Unemployment
According to many views of Keynes' vital assumption was the firmness of money pay, which did not have sufficient theoretical explanation. In fact, capital wages are not unyielding, hence did not succeed during the Great Depression, moreover many industries also cut wages.
3 pages (750 words) Essay
Wealth disparity and effects of long-term Unemployment on the United States Economy
Name: Instructor: Course: Date: Wealth disparity and effects of long-term Unemployment on the United States Economy Summary of the news article In the article on New York times “The Jobless Trap” by Paul Krugman dated April 21, 2013, The US employment situation is explored and the wealth disparity consequence this has on the economy is equally discussed.
7 pages (1750 words) Essay
How Supply and Demand Affects the British Economy
In regards to the British economy, they are certainly considered as being in this category. In order to come to a clearer and more knowledgeable understanding of the issue of the British economy and how supply and demand factors affect it, we must thoroughly address and investigate the key factors in regards to this subject.
4 pages (1000 words) Essay
Causes of high unemployment
The resulting wedge between what employers are willing to offer and what workers are willing to accept explains why United Kingdom unemployment is so much higher than in the United States, where taxes and benefits are considerably lower.
13 pages (3250 words) Essay
The effects of different political parties on the US economy
Except for a brief conservative swing in the late 1940’s, liberalism worked relentlessly to swell the size and scope of the federal government until conservative policies under
8 pages (2000 words) Essay
Imperfection Markets and Unemployment
In fact, capital wages are not unyielding, hence did not succeed during the Great Depression, moreover many industries also cut wages. The main aim of this article is to
3 pages (750 words) Essay
How the song I Need a dollar by Aloe Blacc relate to Macro economics
Some of the effects of unemployment feature in the song include increased crime rate, “Bad times are comin and I gather what I dont plant”, high dependency ratio, “help me
1 pages (250 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment