Western Carolina University Causes Leading to Unemployment Essay

User Generated

Glerr1228

Writing

Western Carolina University

Description

Unformatted Attachment Preview

Unemployment Tyree Nelson Unemployment is a big social problem in the world today. People need jobs to maintain their way of life and being able to support and provide for their families. The problem with unemployment in today's world is the financial aid that goes through the government. Especially during the covid times many people are afraid to come outside and work with the virus still becoming increasingly spread throughout certain areas. Unemployment is even low in local fast food restaurant chains and it effects society because some of them must close later due to the amount of employment that they lack. The government has allowed people to get access to money for not wanting to work in an environment that is claimed as unsafe during this time due to the corona virus. People are beginning to become lazier and some products are running out in certain businesses because companies just don’t have the man power to be in production like they used to in pre-covid times. That is why when you walk in grocery stores and certain local markets that areas on the shelves are cleared out because it is taking them longer to get a shipment in to put stock out on the shelves. You see it all over the place in today's world with all the “Now Hiring” signs up because it is simply a big issue in many industries right now. This could be good opportunity for some younger adults to come into the work force and make money, especially the ones in college. It is really hard to tell when the work force is going to go back up to where this won’t be such a major problem as it has become because when covid came some departments had to get let go because of the high risks that are at stake. Work Cited Doris, A., O'Neill, D., & Sweetman, O. (2020). Does Reducing Unemployment Benefits during a Recession Reduce Youth Unemployment? Evidence from a 50 Percent Cut in Unemployment Assistance. Journal of Human Resources 55(3), 902-925. https://www.muse.jhu.edu/article/759478. Şahin, A., Song, J., Topa, G., & Violante, G. L. (2014). Mismatch Unemployment. The American Economic Review, 104(11), 3529–3564. http://www.jstor.org/stable/43495346 Farber, H.S., & Valletta, R.G. (2015). Do Extended Unemployment Benefits Lengthen Unemployment Spells?: Evidence from Recent Cycles in the U.S. Labor Market. Journal of Human Resources 50(4), 873909. https://www.muse.jhu.edu/article/597480. Fujita, S., & Moscarini, G. (2017). Recall and Unemployment. The American Economic Review, 107(12), 3875–3916. https://www.jstor.org/stable/26527899 Bambra, C., & Eikemo, T. A. (2009). Welfare state regimes, unemployment and health: a comparative study of the relationship between unemployment and self-reported health in 23 European countries. Journal of Epidemiology and Community Health (1979-), 63(2), 92–98. http://www.jstor.org/stable/20720894
Purchase answer to see full attachment
Explanation & Answer:
5 pages
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

View attached explanation and answer. Let me know if you have any questions.

Introduction
1. Unemployment has become a significant societal concern around the globe today.
People require work to sustain their lifestyle and be capable of supporting feed and
clothing their family.
2. Employment in today's society is complicated by the financial assistance provided by
the government states. Because of the Corona virus's continued spread in particular
locations, most people are scared of going out and working.
3. This paper discusses how the world has been impacted by unemployment, for example,
the Covid-19 crisis and how the government has taken measures to contain this big
concern.
Causes Leading to Unemployment
1. Unemployment is caused by a variety of elements and causes that are related to the
economy. Some of the causes result from individual choices, while others are beyond
the individuals' control.
2. It is a fact to say that Covid-19 has had a significant impact on global economics. Some
local fast-food restaurants are forced to close later because of a lack of workers, which
impacts the local economy and communities. As Corona Virus spread around the globe,
economic activity fell, first as individuals altered their behavior and subsequently as
authorities' lockdowns were implemented to contain the diseas.
3. The other reason for unemployment is the recession. A recession is characterized by a
reduction in the Gross Domestic Product (GDP) of an economy, the unemployment
rate, as well as the level of market activity. The outcome of inflation is that individuals
cannot afford the goods and services given by the economy, resulting in a recession.
4. Another factor is the evolution of technology. Many firms are being forced to diversify
and improve the efficacy of their personnel as a result of the rapid advancement of

technology. Those of the technology used in the manufacturing process substitute
persons, such as some previously carried out manually but are now carried out using
technology.
5. Inflation is the other factor to consider. Generally speaking, inflation refers to a gradual
increase in the cost of goods and services across an economy. Inflationary pressures on
the economy are one of the primary causes of unemployment. The outcome of inflation
is a reduction in market volatility by economies that are not able to compete with other
people's efforts as a result of growing costs.
6. Another consideration is the employee's worth. When it comes to their employment,
employees put in an excellent secondary effort and dedication, yet their managers
usually fail to recognize and appreciate their efforts. Because of this, employees may
experience a lack of motivation, which may lead to their quitting their jobs with the
company they work for.
The Consequences of Unemployment
1. The most significant consequence is a reduction in income. Individuals out of work
have lost their revenue source and means of supporting themselves. Many employed
induvial deploy their earnings to get mortgages as well as some sort of financial
assistance.
2. Unemployment is a contributing factor to political instability. When most of a country's
population is unemployed, people develop adversarial personalities as life becomes
tougher. These...


Anonymous
Really helpful material, saved me a great deal of time.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags