unemployment in america essays

unemployment in america essays As the United States economy is slowly recovering, many jobs are still being lost daily as many more are also created. Even though there are many factors that give a look at how the economy is doing, a factor one should carefully examine before making such decision is the unemployment rate. Unemployment rate also has different factors that determine the rate. Many workers are losing their current jobs because they do not have the current technological skills. Others are losing their jobs due to jobs moving overseas. However, since the actual unemployment rate is difficult to measure accurately, the rate can easily incline and decline. With the American economy recovery, it is still causing the unemployment rate to rise. Treasury secretary John W. Snow is expecting about 200,000 jobs to be created monthly for a year to make up for the almost 3 million jobs lost since 2001. Many economists believe that anywhere between 150,000 to 200,000 should be created every month to keep up with population growth so that the job market does not weaken. In 1997, 250,000 jobs were created, declining the unemployment rate. In 1995, 180,000 jobs were created, but unemployment rose. This shows that it is hard for economist to estimate the amount of jobs needed, however, they can use previous data to help with their estimating. Many of those unemployed are jobless due to technological advances. A simple example would be a factory worker that does inventory count for a tire company. Before technology entered this company, he would have to hand count every tire still at the warehouse. However, once technology was used in the company, every time a tire was taken out of the warehouse, it would be checked out by a computer, which in turn would automatically update the inventory in the warehouse. This would obviously save the worker a lot of time, however, if the worker has absolute no knowledge of computers, itll be more time consuming to teach hi...