ipl-logo

The Pros And Cons Of Unemployment

970 Words4 Pages

Unemployment is universally recognized as a bad thing. While economists and academics make convincing arguments that there is a certain natural level of unemployment that cannot be erased, elevated unemployment imposes significant costs on the individual, the society and the country. Worse yet, most of the costs are of the dead loss variety where there are no offsetting gains to the costs that everyone must bear (Depending on how it 's measured). Unemployment represents the number of people in the work force who want to work but do not have a job. It is generally stated as a percentage and calculated by dividing the number of people who are unemployed by the total work force. The work force is made up of those people who want to work; it excludes people who are retired, disabled, and able to work but not currently looking for a position; for instance, they may be taking care of children or going to college.

The economic costs of unemployment are probably more obvious when viewed through the lens of the national checkbook. Unemployment leads to higher payments from state and federal governments for unemployment benefits ($2.96 billion worth of benefits were paid out in February 2017), food assistance, and Medicaid. (Sources) At the same time, those governments are no longer collecting the same levels of income tax as before - forcing the government to borrow money (which defers the costs and impacts of unemployment into the future) or cut back on other spending (perhaps

Show More
Related

  • The Pros And Cons Of DACA

    226 Words  | 1 Pages

    What is DACA? DACA is a program created by Barak Obama to aid undocumented immigrants, specifically children who were brought in by their parents illegally. How does DACA help immigrants? They are helped by being allowed to work, have a driver license, and potentially own a home. How are these opportunities granted?

    Read More

  • The Pros And Cons Of Government Shutdown

    258 Words  | 2 Pages

    A government shutdown is the closure of nonessential offices of the government due to lack of approval on the federal budget for the upcoming fiscal year. (Investopedia) The most recent government shutdown was on January 20th. There have been 18 previous shutdowns. The last one was in 2013.

    Read More

  • The Pros And Cons Of Right-To-Work Laws

    1058 Words  | 5 Pages

    Right-to-work laws have been heavily debated even before their formal inception in the mid-1940s and they continue to be debated today. The core of the debate is about union security, which is the unions right to secure their position in a shop once voted in. One example of union security is compulsory unionism. Right-to-work laws are legislation enacted on a per state bases that limits or eliminates compulsory unionism. The main viewpoint of right-to-work supporters is that compulsory unionism breaches inherent freedoms.

    Read More

  • The Pros And Cons Of The Welfare States

    329 Words  | 2 Pages

    Furthermore, an article written by Robert Rector, Katherine Bradley, and Rachel Sheffield for the Heritage Foundation, states that all means-tested from federal and state sources combined were $956 billion. This $956 billion in annual welfare spending is distributed among as many as 100 million people which average about $9,500 per beneficiary. I am in agreement with the article in Discover the Networks intitled; “The Welfare States’s cost to American Taxpayers” that says, “If converted entirely to cash, these benefits equal more than five times the amount of money needed to lift every poor person in the United States out of poverty” (2012). The Federal Income Tax returns filed in the United States is approximately 143 million.

    Read More

  • The Pros And Cons Of Raising Minimum Wage

    567 Words  | 3 Pages

    The topic of minimum wage is one that can lead to heated debates from both sides of the aisle over how much a person should be getting in payment versus how much work they do, or how hard they work to earn the payment. Countless people today are not getting paid the amount they should be based off of the work that they are putting in to their job. There are arguments leaning towards the raising of minimum wage, and there are arguments leaning against the raising of the minimum wage, however one of the arguments I find persuasive. There are some arguments that lean towards the raising of the minimum wage. The first argument presented involves job creation in the United States.

    Read More

  • The Pros And Cons Of Universal Basic Income Assistance Programs

    3140 Words  | 13 Pages

    With 140 million Americans in poverty in 2022, the failures of our income assistance programs are becoming increasingly clear. UBI (Universal Basic Income) is the most aspiring social policy concerning income assistance programs today. Keeping that in mind, UBI is roughly defined as another income, besides someone’s existing income, that would be untaxed, and this money could be spent on whatever a person desired. The most agreed-upon amount would be around $1000 a month to all citizens of the US no matter how much money they make. Now, this would have some stipulations such as the following: no one under 18 would receive this income, and no one who was not a registered US citizen.

    Read More

  • Poor Kids Documentary Summary

    1121 Words  | 5 Pages

    However, the unemployment rate had not changed much within those years. With a significant amount of individual unemployed the nation suffers. As the number of unemployed continues to climb or the longer they are without work the more money the government has to pay them in benefits. The effects of being unemployed also affect other businesses; due to unemployed individuals are not being able to spend money as they would if they were working businesses suffer, over long periods of time that particular business may lay off staff; increasing the number of people unemployed or potentially lose the business. Furthermore, the lack of being employed affects a family, Britney’s mother was affected tremendously and caused her hospitalization because she couldn’t deal with the stress of her family lacking an income.

    Read More

  • George Washington's Debt Crisis

    809 Words  | 4 Pages

    Like an investment, the government puts money into society, hoping to get a more substantial amount of money back. But with unemployment low the government is investing money into society and the investments are not paying off. The unemployed (7.8 million people) can’t or won’t pay and middle class doesn’t make an effective salary. If a significant amount of people are not working that means the government is missing out on vital income tax. And the middle class alone can’t fight off the $19.3 trillion dollars of debt.

    Read More

  • The Pros And Cons Of The Welfare Reform

    1041 Words  | 5 Pages

    The Welfare Reform is a program that was set up to aid and provide public assistance (Opposing Viewpoints). This type of assistance aids families who are in need of funds due to no income or very little income. Over the next years, the Welfare Reform Act has been slightly changed. Some changes have been an improvement to the program, while other changes did not make an impact on the individuals who receive this form of assistance. Critics of the welfare program have insisted the programs hinders people who receive this form of support.

    Read More

  • The Pros And Cons Of Federal Budget Cuts

    290 Words  | 2 Pages

    According to Farber (1981), "Despite the difficulties in cutting back, the need for substantial federal budget cuts are two reasons: first, cuts are essential in returning our nation back to a continuation of economic growth; and second, the administration has proposed a substantial increase in flexibility that would allow state and local governments to mitigate the harmful impact of the cuts. " Officials in many other government agencies including those at the federal, state, and local levels have also faced increased budgetary constraints. Although budgets have constricted, the workload of the court has continued to increase. I was given carte blanche to do what needs to be done to get our budget down 12% in expenditures. After cutting all

    Read More

  • Effects Of Overpopulation In China

    1228 Words  | 5 Pages

    Unemployment will cause lower salaries because more workers but less jobs, so the people that cannot find a job in China they will find a job in other countries. Some of the degree graduated student cannot find a job in the China because there was not job for them. According to Patience (2013), the companies were less hiring 15% graduated students from last year. That was a bad news for the graduated students because they were just a few of companies’ job to choose. Unemployment make the students stress.

    Read More

  • The Pros And Cons Of Forced Labor

    848 Words  | 4 Pages

    Forced Labor in the USA has been a major problem since the past few years, yet the government nor the citizens who has been victims of Forced Labor, has not made any major plans to put Forced Labor into an end. It is in need to put Forced Labor into an end so that the victims of this problem may have everlasting freedom and success in their own separate lives. The citizens of the US are experiencing “Forced Labor” in a way that they don’t even know that they’re already being victims of this certain problem. In other words, these citizens are being “tricked” because of the false advertisements that are being given to them, which blinds them because they don’t know the background of the store they’re going to work for, which makes them realize in the End that they’re already victims of Forced Labor. There are many possible solutions to put Forced Labor into an end.

    Read More

  • Argumentative Essay On Unemployment

    798 Words  | 4 Pages

    Unemployment happens when individuals are without work and effectively looking for work.[1] The unemployment rate is a measure of the pervasiveness of unemployment and it is figured as a rate by separating the quantity of unemployed people by all people presently in the work power. Amid times of recession, an economy more often than not encounters a generally high unemployment rate.[2] According to International Labor Organization report, more than 200 million individuals universally or 6% of the world 's workforce were without a vocation in 2012 There remains significant hypothetical civil argument with respect to the reasons, outcomes and answers for unemployment. Traditional financial matters, New established financial aspects, and the Austrian School of financial matters contend that market instruments are solid method for determining unemployment.

    Read More

  • The Problems Of Unemployment As A Social Problem In Society

    2016 Words  | 9 Pages

    Typically, one does not think about unemployment being a social problem, unless you are someone that is unemployed or has experienced unemployment. Unfortunately, unemployment is becoming a serious social problem today in society. Many people who happen to be unemployed are more than capable of working they just do not have the proper experience or flexibility that a job requires. Many are also unemployed because there are not enough jobs for everyone. The unemployment rate is rising every day and the something needs to be done to stop this.

    Read More

  • The Negative Impact Of Unemployment In Youth

    846 Words  | 4 Pages

    Introduction: Unemployment generally defined as the number of persons who are willing to work for the current wage rates in society but not employed currently. Unemployment reduces the long run growth potential of the economy. When the situation arises where there are more other resources for the production and no man power leads to wastage of economic resources and lost output of goods and services and this has a great impact on government expenditure directly (Clark, 2003). High unemployment causes less consumption of goods and services and less tax payments results in higher government borrowing requirements. The impact of the unemployment is seen with the individuals and household curtailing the consumption drastically to meet financial

    Read More

More about The Pros And Cons Of Unemployment

Open Document