Unemployment is a major factor in measuring how healthy a country’s economy is. When the economy maximizes efficiency then each person would be employed at a certain wage. An unemployed person is someone who is able and willing to work and is actively looking for a job but is unable to find one. Unemployment is measured by a rate which is the total number of unemployed workers divided by total labour force. The unemployment rate is an important statistic that determines personal decisions and government policy. It also determines the overall satisfaction or dissatisfaction with the state of America, the government and its leaders (Griffiths, M., & Rotheim, R. 2013). This essay will present some of the causes of unemployment in the United States, while also presenting the effects of high rates of unemployment in the country in order to provide measures of curbing high unemployment rates.
Causes of Unemployment
The government is very keen on the unemployment rate this because not only does the rate determine the efficiency of a country’s economy but also due to the fact that politicians have noticed that a high rate leads to losing elections. The unemployment rate in the USA stood at 4.1 percent on February 2018. It has not changed from the previous months’ 17-year low and is seen to be slightly higher than the 4 percent market expectation. In the United States, Unemployment rate has been at an average of 5.79 percent from 1948 until 2018, this rate was highest in November 1982 at 10.80 percent and lowest at 2.50 percent in May 1953.
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