The Many Effects of Unemployment

The Many Effects of Unemployment

Over the past ten years there has been a great shift in society’s employment system. Corporate America has taken major cutbacks in the working labor department that has left many citizens unemployed and destitute. Anger and concern over layoffs, wage unproductivity, declining benefits, and the movement of jobs overseas has left citizens with harsh and undesirable views of the actions and motivations of Corporate America. With the unemployment rate on a downward slope, American citizens have become distressed which has resulted in emotional, social, and, economic hardships. Even with the unemployment rate not in the decline, many families are still in distress because of the social and economic problems caused by widespread company layoffs. Can Corporate America offer our families a better way of life?

The unemployment rate has been on a slow decline over the past few months which indicates a slow improvement in the job market. Even though the decline is a positive indication, many companies are not hiring at an alarming rate. Based on The Bureau of Labor Statistics (BLS), the number of unemployed persons decreased by 556,000 to 14.5 million in December, and the unemployment rate dropped to 9.4 percent. Over the years, these measures were down from 15.2 million and 9.9 percent, respectively. As the economy continues to slowly recover many Americans are still trying to balance their financial and social lifestyles. The jobs situation appears to have shown considerable progress over past few months, with the unemployment benefits claims decreasing. Many companies seem to be opening up and creating new positions to assist society and create a positive outlook on the employment system, but even with these efforts the slight increase in available jobs is not consistent with society’s unemployment rates. Few open positions are available with dropped wage rates. As these positions fill, there is an indication that many of those that...