One should understand that the modern-day U.S. society is confronted with the high unemployment, which occurs as a burning issue affecting a vast amount of people. Significantly, the United States can be characterized by digging itself into the current business cycle contraction ever since the downward spiral of central financial institutions. It is important to indicate that all this resulted in a dire need to settle on a solution to the problem of financial crisis that Americans are forced to pass through in their everyday’s life. Obviously, a number of people advance an argument that a poor policy-making of the Bush Administration led to the unprecedented recession; in any way, one has to be conscious that there are some opposing views within the society claiming that the bureaucracy’s increasing role in policymaking itself negatively influenced the national economy of the United States. Apparently, a new president Barack Obama makes numerous attempts to put his society back on track. The focus here lies in arguing that Obama’s project consists in putting a lot of effort into the creation of new job opportunities. All in all, it becomes clear that there is much yet to be done in order to allow each citizen to find a decent job.
Contemplating upon today’s unemployment rate in the Unites States, one cannot but encounter the fact that it is constantly growing; the evening news are predominantly focused on reflecting the fact that U.S. economy emerges to be in an extremely bad shape. A peculiar thing is that the prevailing majority of privately-owned TV channels draw a particular attention to the growing unemployment rate and some critical decisions that the authorities have to take in order to reduce unemployment rate. It becomes apparent that many enterprises rearrange their performance by cutting more jobs. In addition, it is worth saying that many companies closed throughout the recent recession. Considering the unemployment rate, one has to understand that it appears to be tightly bound to the percentage of unemployed persons. In particular, the unemployment rate refers to those without work even though being entirely able for and seeking employment, respectively. Taking a view of the U.S. economy, it is important to make mention that a number of researchers conducted in-depth surveys on the causes and effects of persistently high unemployment rate in the U.S. economy. One has to know that to understand all the complexity of the unemployment within the society, it is important to look through a vast amount of articles, since such an approach to evaluating the issue increases the chances to come up with the possible solutions to a problem.
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Considering the first article that one should take a notice of, it becomes apparent that McGinty’s “What the Unemployment Rate Shows” is indisputably worth reading. Moving through the given article, one cannot help but become aware that the author attempts to uncover all the uncertainties in terms of why people are concerned even though the Obama Administration points out positive shifts in the workplace. To be precise, one has to know that the official unemployment rate is approximately 4.9%. Notwithstanding this fact, it is important to vividly see a substantial difference in unemployment rates among various U.S. states. To make everything clear, the author admits that to come to understanding the differences, Bureu of Labor Statistics “… produces alternative measurements in addition to the official unemployment rate.” (McGinty, 2016, p. A1) Surely, the broader measure of unemployment mirrors the unemployment situation more precisely, which enables the public to have a sound judgment about the U.S. economy. In contrast to the official rate U-3 classifying people “…as unemployed if they do not have job, have actively looked for work in the prior four weeks and are currently available for work.” (McGinty, 2016, p. A1), a new measurement considers persons as unemployed once they had not been working for 15 weeks. Additional measurement, known as U-6, offers a different view in respect of the unemployment rate, making an emphasis on particular categories of people deprived of an opportunity to seek employment due to transportation problems as well as child-care requirements. On the whole, one has to be conscious that the given article gives the chance to measure unemployment in an entirely different way; and the question naturally arises as to how low the U.S. society can go while “…4% or 5% unemployment rate is traditionally considered a safe level.” (MGinty, 2016, p. A1)
Another article to make mention of is Stibel’s “Why the Falling U.S. Unemployment Rate Matters”. Considering the aforementioned article, it is important to indicate that the author pays special attention to some positive shifts in the workplace. Yet, the article also addresses people’s reluctance to recognize that “…there is more money cycling through our economy.” (Stibel, 2014, p, A1) It appears to be absolutely certain that the author puts a lot of effort into convincing the readers of his point, which basically lies in witnessing a relatively good shape of U.S. economy even though much of the public is not over the Great Recession. Moving through the article, one can vividly see that the author is evidently determined to allude to Obama’s accomplishments as president. In addition, the author makes it clear that despite all the economic challenges that the United States is currently facing, one should not consider 5% unemployment as the ground for pessimistic economic forecasts.
Throughout the article, one cannot but give the author credit for inspiring the society by prompting people to be more optimistic with regards to the ongoing scenario of economic development. However, the given survey emerges to be overwhelmed with the signs of excessive subjectivity, which negatively contributes to a willingness to count on this article as a piece of unbiased writing. In any way, one has to know that the article itself still represents the empirical content, which is likely to enable the readers to reinterpret their attitude towards such a burning social issue as the unemployment.
The third article that one should definitely take into consideration while contemplating upon the problem of unemployment is “ What 27 Weeks of Unemployment Does to the American Worker” by Gillian B. White. Considering this very article, it is worth saying that the author addresses heterogeneous public sentiment in respect of overall unemployment. The focus here lies in claiming that despite a significant progress since the Great Depression, the question still arises as to which paradigm the U.S. economy will come up in future in order to struggle with long-term unemployment. In accordance with the data provided by the author, it becomes evident that the authorities should continue to take measures, which would decrease unemployment rate; to put the matter differently, the Obama Administration has to take into account the fact that the current unemployment rate is “…still well above normal levels, and leaves about 2.7 million people without work.” (White, 2015, p. A1) In addition, the author supports the claim that a particular attention has to be paid to the category of long-term unemployed; the point is that this specific population is more prone to turn down the job offers, which can increase the unemployment rate in future.
Apart from the above-said, one should also take into consideration the thing that the long-term unemployment incorporates a number of “…broader physical and psychological consequences, too.” (White, 2015, p. A1) To put it another way, it is important to pinpoint that unemployment is likely to make a person unwilling to get necessary medical care; moreover, there is a high probability that the long-term unemployment can lead to personality changes, and some of them can negatively impact the chances of getting a good job.
To sum up, one has to be conscious that the problem of unemployment should definitely not be underestimated from the perspective of exceptionally detrimental effects it can actually lead to the U.S. economy in general and each citizen in particular. Although there are some fundamental shifts in the workplace since previous recession, the authorities should still continue to expand the insight on the strategy, which would enable the United States to have a zero unemployment rate. On the basis of the aforementioned articles, it is possible to conclude that the U.S. economy occurs as powerful enough to eradicate the signs of the Great Depression; however, due to bureaucratic-dominated policy-making, it tends to be extremely difficult to meet society-specific requirements.
Hence, it is high time to take some decisions, which would endow people with an opportunity to build trust in authorities as the institution predominantly focused on responding to number-one concerns in the United States. The last but not the least, after a thorough excurse into the U.S. unemployment rate, one cannot but dispose an argument that Barack Obama should not give preference to the traits of being a showy politician who makes many promises while giving a speech and implements only a few of them; instead of this, there has to be a strong desire to take a raft of measures in place that will transform the U.S. economy dramatically.
References
McGinty, C. (2016, March 04). What the Unemployment Rate Shows. The Wall Street
Journal, A1. Retrieved from http://www.wsj.com/articles/what-the-unemployment-rate-shows-1457106385
Stibel, J. (2014, November 14). Why the Falling U.S. Unemployment Rate Matters. Harvard
Business Review, A1. Retrieved from https://hbr.org/2014/11/why-the-falling-u-s-unemployment-rate-matters
White, G. (2015, March 6).What 27 Weeks of Unemployment Does to the American
Worker. The Atlantic, A1. Retrieved from http://www.theatlantic.com/business/archive/2015/03/what-27-weeks-of-unemployment-does-to-the-american-worker/387031 /
