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Unemployment in the United States - Essay Example

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From its inception, the United States has been regarded as a land of opportunity. Indeed, over the past two centuries millions of immigrants have flooded into the country seeking a better life. Perhaps the primary reason for their immigration has been the understanding that the country holds greater employment opportunities than in other areas. To a great extent, this notion has held true. In 2008, however, the United States experienced its greatest recession since the 1929 Great Depression. The most notable fallout of this recession has been the rising unemployment rate. This essay examines unemployment in the United States, how it is affecting our communities, and what is causing it. As noted, the 2008 recession has greatly contributed to unemployment in the country. Prior to the fallout of the housing crisis, foreign investment and domestic wages had reached high levels. The high levels of wealth in the country allowed businesses to expand and hiring to increase. With the recession this expansion ceased causing unemployment in the country to rise sharply. There has correspondingly been a great degree of fallout that has occurred as a result of this recession. The country is still facing a housing crisis, as foreclosure rates and home prices continue to drop. This places consumers and businesses in a cautious position. One also recognizes that the fallout of the American automobile industry accompanied the economic recession.

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Summary

From its inception,the United States has been regarded as a land of opportunity.Indeed,over the past two centuries millions of immigrants have flooded into the country seeking a better life.Perhaps the primary reason for their immigration has been the understanding that the country holds greater employment opportunities than in other areas. …
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