Unemployment On The Us Economy Essay - 963 Words

Name: Instructor: Subject: Date: Unemployment in US economy The unemployment turnover view has a strong base on the contemporary thinking about unemployment in the entire United States. Joblessness or unemployment takes place when an individual searches for another new job and devotes most of time searching for another job. Moreover, unemployment comes into being if an individual goes in search of a new employment after being out of labor force for a long time. The individuals in search of employment get employed in monthly duration in a range of 10% to 40%. The unemployment varies directly with separation rate and varies indirectly with the rate of searching for a job. For a long time, labor market students have believed that the time of acute rise in unemployment or recession were due to increased rates of separation from jobs and decreased rates of finding jobs. From this perspective, the period of recession starts by the trend of layoffs. The trends of layoffs are mainly done in industries of durable goods. As labor market gets crowded with those seeking for employment, the rate of finding jobs decreases and the after unemployment duration rises. In contrary, recent research and data have disapproved this argument. The new perspective views separations as to have no contribution to the increased problems of unemployment during the period of recession. The reason behind increased unemployment during the recession is difficulties in finding jobs, not the dumping of thoseShow MoreRelatedThe Factors Affecting Unemployment : A Study Of Us Economy Essay1679 Words   |  7 PagesEffecting Unemployment: A Study of US Economy in 1985-2014 Introduction In the past few years, the US unemployment rate dynamically fluctuated: more than five millions jobs were cut in November 2008 due to economic crisis, but recently, the unemployment rate dropped by 0.3 point after eight years. 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