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Unemployment

            With many of today's companies looking for ways to save money and increase profits we are seeing an increase in the number of unemployed. Companies are looking to cut costs and employees are a major expense for a company. Not only does a company have to pay the wages of a worker, but the company must also match the Social Security and Medicare payments. .
             Another expense of employers is medical insurance; even if the companies have its employees contribute to the cost of their benefits, it still does not offset much of what the company still pays. .
             With the increasing costs to a company they are looking at moving jobs to countries where it's able to pay workers a lower wage. An example of this would be an American company moving it manufacturing facilities to Mexico. .
             Another reason would be the use of labor saving automated equipment. Companies are using more computers and robotics instead of human labor. By automating more of their operations companies are increasing productivity and profits but at the same time they are contributing to the rise in unemployment. .
             The importing of goods into the country also contributes to the increase in unemployment. Goods are bought in a low-wage country for a cheap price and then brought into a high wage country and sold with large mark-ups. Selling prices of products produced in the higher wage country are marked down so they can compete with the imported products. But the imported products can be reduced even further which in the end knocks the home produced product out of the market. This then causes many companies to have to reduce their work force and sometimes even close their doors. Which reduces wages and increases unemployment.
             The social implications of unemployment to a community vary from individual to individual. People living at or below the poverty level increases. A decreasing in that individuals spending has a snowball effect on the entire community.


Essays Related to Unemployment

1. Unemployment Extension Benefits

... President Obama (Scherer). The many Americans experiencing the unanticipated struggle to find a job are allowed to progress through the four tiers of unemployment benefits. When state benefits end at 26 weeks, the unemployed begin the first tier of federal benefits. Federal benefits vary in length from ... state to state depending on the severity of the unemployment situation of that state (Scherer). The newly passed bill will cost an estimated $34 billion (Scherer). However, this money will not only ... helped by the new extension, the "99ers" are out of luck. This group consists of ...

  • Word Count: 816
  • Approx Pages: 3
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2. Unemployment

... unemployed. Explanations for the economy's natural rate of unemployment: minimum-wage laws, unions, efficiency wages, and job search. I. Unemployment A. What is unemployment? B. Why is there unemployment? C. Measuring unemployment D. Fighting unemployment E. How long are the unemployed without work? II. Different Types of Unemployment A. Normal unemployment i. Seasonal unemployment B. Structural unemployment i. Technological unemployment C. Deficient demand unemployment III. Unemployment Insurance A. How it works IV. Minimum-Wage Laws ... the nation's total spending is too little. As good...

  • Word Count: 2554
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3. Inflation and Unemployment in Australia

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  • Word Count: 1503
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4. Economics - Research on Unemployment

... workers. The workers need to now be trained in computer operations to help manage the computers (http://useconomy.about.com/od/suppl1/g/Structural-Unemployment.htm). They are considered to be structurally unemployed until they develop new skills that employers now want. This will actually take some ... personal consumption, if the consumer demand for goods and services drop then the business revenues decline (http://useconomy.about.com/od/Employment/p/cyclical-unemployment.htm). Businesses have to make the unfortunate call of laying off workers to maintain profits. A few times that we ex...

  • Word Count: 1235
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5. Economic Labor Markets and Unemployment

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  • Word Count: 1436
  • Approx Pages: 6
  • Grade Level: Undergraduate

6. Inflation and Unemployment

... is increasingly adopted by companies. The latters move their manufacturing to other countries were labor costs are cheaper. In addition to outsourcing and advanced technology, an important factor that causes unemployment is the shortage in consumer demand especially if a the long run, businesses are forced to lay off workers as a response to the loss of profit resulted from the decrease in ... shown that crime rates rise when people are not able to fulfill their needs and basic necessities. Also, percentages of illness both physical and mental are raised due to high unemployment: some f...

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7. Unemployment

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  • Word Count: 813
  • Approx Pages: 3
  • Grade Level: High School

8. Inflation And Unemployment

... lumbering and etc. People who work in those industries are usually employed for six month and unemployed for the other six when there industry is off-season. Frictional unemployment is the unemployment that corresponds to job vacancies in the same occupations and locations. Some workers will be frictionally unemployed because of job search. Workers will try to better themselves when ... , new workers are likely to join the frictionally unemployed, while others will be leaving the labor force. There are two types of demand deficient unemployment. The first is cyclical unemployment and the ...

  • Word Count: 1655
  • Approx Pages: 7
  • Has Bibliography
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9. Unemployment

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  • Word Count: 1297
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10. The Global Issue of Youth Unemployment

... focus on youth employment in general. Causes From both economists and analysis's points of view, several reasons are blamed to have risen graduate unemployment . Firstly, the most trendy and well-known reason: Unpaid internship. Undergraduates, most of whom come from wealthy families, are eager and ... job ,become abundant and unemployed. When this situation go on for a long time , the less experiences the graduates can learn and the longer unemployment they undergo , which also explain the second reasons : Graduates do not have enough experiences to take on a real job. Meanwhile , since...

  • Word Count: 1776
  • Approx Pages: 7
  • Has Bibliography

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