Unemployment in America Essay.
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Details: What is the \”current macroeconomic situation\” in the U.S. (e.g.
is the U.S. economy currently concerned about unemployment, inflation,
recession, etc.)? What fiscal policies and monetary policies would be
appropriate at this time? Key concepts to include in your paper–data
trends on unemployment, inflation, GDP growth, expansionary fiscal policy
tools, FOMC, easy money policy tools and other terms from this class.
Here’s a snippet of the essay.
America major macroeconomics concerns include its unemployment level, economic growth rate and rate of inflation. Currently, the economy of America is in such a situation that its main concern is improving its macroeconomic functions simultaneously, as opposed to tackling each macroeconomic function individually. The growth of America economy is stagnant and growing at decreasing rate. Therefore, shedding further light on the issue of unemployment in America is discussed below.
America is still at a stage of recovery from the recession. The recession is termed as one of the worst period of the US economy in its history. The economy of America is on a path of slow improvement, with around 2.2% annual growth rate (CEB, 2013). As of 2013, an increasing high of rate unemployment is a main threat to the US economy. The current unemployment rate is between 8% and 7.5%, this is characterized by significant volatility because of the increasing number of workers who are discouraged and currently re-entering the workforce. Unemployment is a big problem for policy makers, few jobs means low consumer confidence and suffering of business sentiment. In September, the total number of nonfarm employment increased by 148000, this had a very minimal impact on the rate of unemployment. 4.1 million is currently the number of those who have remained jobless for a period of 27 weeks. Teenage unemployment remains at 21.4% while the number of part-time involuntary workers is 705 million. The above figures indicate that underemployment and unemployment rates remained at 13.1%. It means that 20.6 workers in America are getting by with part- time jobs or without any job. In November, there were job gains. This was due to 63.5% employment increase in industries (CEB, 2013).