Unemployment Essay

UNEMPLOYMENT Definition: Unemployment refers to a situation where individuals are willing and able to work but are unable to secure employment and therefore labor resources are underutilized. Measurement of Labor Market Performance The Labor Force Participation Rate refers to the percentage of the population aged 15 and over that is either employed or unemployed, and is currently 64.8%. Weaker demand for labor and below average wage growth has contributed to a cyclical ‘discouraged job seeker’ effect. Structurally, Australia’s ageing population and increased school retention rates are putting downward pressure on the participation rate, which is measured using the following formula: Labor Force Participation Rate (%) = (Labor Force)/(Working…

Market Recovery Index (Housing MRI) research project. Using two different charts that belong to the same general data (the market’s leading housing recovery cities and the market lagging housing recovery cities), this economist creates a close relationship between Unemployment Rate and the Average home price change since the housing market bottomed out. Mainly based on percentages and average data, the author states a negative correlation between these two terms (as home price changing…

Statistically, young Canadians have been defeated by today’s tight and evolving job market. For quite some time, the unemployment rates for this age group have been double the jobless rate at the national level. According to the Labour Force Survey, in August 2014, employment has decreased by 20 000 among youths aged 15-24, with a steady unemployment rate of 13.4%. Because many of these unemployed youth are recent university graduates who expected accessible and sufficient employment in…

Unemployment in every case is viewed differently as a good or bad thing depending on a person’s point of view. Some people view and believe that there is a certain level of unemployment. Unemployment can be natural especially, if the unemployed are not skilled and educated for certain jobs. Unemployment can cause a high elevation of unemployment which enforces a major cost to human beings, society and the country as a whole. Depending on how unemployment is measured, people’s view of…

Unemployment “the state of being unemployed: not engaged in a gainful occupation” (Merriam-Webster, 2016). It is both humiliating and crippling to both the individual and the economy in which he/she resides. Unemployment rates, both current and historical, are constantly brought up when politicians campaign for office. We, as a nation, are in a record low unemployment rate of 4.9 percent, but as I will explain in this paper might not be as fortunate if current policies go unchanged.…

Unemployment affects millions of Americans each year. The length of time an individual is unemployed depends on several things, including age, education, experience, and resources. Equally important to consider, there are several aspects of the U.S. economy that factor into the rate of unemployment and labor force participation. Current trends in unemployment reflect a shift toward advancement in American manufacturing and technology. Although economic recovery is still in progress and some…

Unemployment is a controversial topic in America, fueling debates on whether being unemployed is truly an issue. Through reading the stimulus materials, Albert Camus, a renowned French philosopher, said that, “The workman of today works every day in his life at the same tasks, and this fate is no less absurd”(Camus 1). However, Richard Nixon, former president of the United States, said in a speech, “As the name implies, the work ethic holds that labor is good in itself; that a man or woman at…

1. How does a high unemployment rate or high inflation affect the way that Americans vote? Is there logic behind how voters view the parties in regard to addressing unemployment or addressing inflation? Why are the parties and elected officials limited in how they can affect the economy? Explain. Every election the unemployment rate or the unemployment becomes an issue for boulders depending on what demographic or economical or minority race is impacted. Most officials were running for…

I am very upset by the amount of lazy, unemployed people who live in Canada. There is no excuse for anyone to stay unemployed for a long period of time, there is always companies looking to hire if people would learn to get up and look. It is a shame that our country is being burdened by these people who are too lazy to get themselves a job and just live off the money that the government gives them. I believe that if we make it illegal to be unemployed that it will solve this issue in our…

The reasons to support the evidence This policy is highly recommended because if in any circumstance someone happens to lose their job it is a good thing to know that there will be a good supporting cast to support you to relive the financial stress and it gives you time to search for a new job. My recommendation I support the unemployment policy for various amount of reasons because it is given to those who meets up to the requirements without them being in any fault due to their situation.…