Essay On Unemployment In America

1584 Words7 Pages
Basically, there are two main different types of unemployment will affect the world today after the Great Depression that affected the United States of America in the 1930s. The Great Depression is the one of the most serious economic crises that spread all over across the country. The Great Depression had diverse effects in different countries as it would increase the cost of living, raising the taxable earnings of displaced workers, improving their children’s economic prospects, and reducing the growth of the disability rolls, increases the unemployment rates among permanent job losers and the huge increase in long-term unemployment. For example, the permanent job losers (job losers not on temporary layoff) increased from 1.7 percent in November 2007 to a peak of 5.6 percent in October 2009 and remained at 5.0 percent in March 2010. (Katz, 2010). It also contributed to a halt in constructions amongst other negative diverse effects on the economy, including the industry and agricultural sectors. It noted that in some other countries this Great Depression lasted to the beginning of the Second World War. (Katz, 2010). Nevertheless, economic…show more content…
As our recommend above, the government should implement the better policies to help reduce the rates of unemployment, which can be done by ensuring that the economy is stabilized, reducing taxes on businesses and creating a conducive environment that promotes business in the country. This is because when people are long-term remain jobless, this will notice majority of these people engaging in illegal acts such as crimes, which will only worsen the current state of economy of the country. Therefore, it is the responsibility of both the government and the private sector to increase the employment levels in the country. And the citizens should also equip themselves with the skills and attitudes that will help them to fit into the job
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