Sample Essay

Introduction

Unemployment is basically a ratio that signifies the number of skilled people who can work and are completely unable to find a better job in the market. This ratio is calculated as the number of ratio of unemployed population by underemployed population (Fineman, 1987).

The unemployment rate in US is increasingly higher than the past years. The recession had put a strong effect on the economy of US that is also the root cause for the downturn in the labor. In this paper we shall discuss in brief regarding the unemployment rate in the US. Moreover we shall discuss the factors of the unemployment and effects that are making adverse changes in the economy of US.

For the sake of clarity and the elimination of any potential ambiguity, this paper shall differentiate employment and unemployment by making use of the following definition:

“The labor force can be defined to exclude those temporarily idle individuals currently between jobs (the frictionally unemployed)… exclude those whose inappropriate skill levels make them de facto not able to work at jobs that area available – the so called structurally employed”(Vedder & Gallaway, 1997, p. 17).

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