Unemployment Turned Into the Unemployable

The Unemployed turned into the Unemployable:

A Persistent Cause of U.S. Financial Depression

By Kristina Noelle A. Tangkeko 4FM3

Figure 1

Defined and Characterized: Unemployment has been a great cause of poverty and economic instability in the US for it is a measure of health for an economy. For people have been unemployed for a long period of time and are mainly dependent to others, which may not be able to support already. Unemployment occurs when one is actively looking for employment but cannot find a work. They are considered part of the labor force. People who have lost their jobs but are looking for replacement work, people who are newly graduates and are entering the labor force are considered unemployed. Unemployment is the fraction of the labor force that is unemployed.

Figure 2

Figure 1

The United States has been experiencing a severe case of unemployment. As effect of the previous recession that lasted from 2007 to 2009, US had its worst record of unemployment. The unemployment rate peaked at 10.0% on 2009. (Figure 1) A persistent high unemploment rate is expected to last up to year 2014 as the number of unemployed rises each year.

Long-term unemployed: Long-term unemployed citizens are also greater in value today. As these citizens have been jobless for more than 6 months, they are contributing to a greater percentage of the total unemployed. This means that the burden of unemployment has been attributed to Amercians who have been unemployed for long period of time, rather than the normal pattern of having unemployed Americans for a shorter period. When people have been jobless for 1 year, only 1 out of 10 returns to work. Recession turned the unemployed to the unemployable. (Figure 2)

Figure 3

Sectoral Unemployment: President Barack Obama once mentioned on a speech that only the public sector or the government units are doing fine as employment is concerned. The number of citizens accepted and cut each year are minimal compared to...