There are many people are experiencing some kind of setback due to the recession. Unemployment rates have skyrocketed. People from different walks of life have suffered poverty. Poverty in the United States has increased drastically.
In recent studies, according to McGeehan (2013), the rate of unemployment within the city of New York is one of the highest for the nation (McGeehan, 2013). McGeehan (2013) also discusses about the estimation of high unemployment rates of 2012. McGeehan (2013) states the following about unemployment in 2012:
“At the end of 2012, the city’s unemployment rate was 8.8 percent, a full percentage point higher than the national rate, according to the federal Labor Department. City officials have dismissed the unemployment figures as flawed and emphasized a different survey by the department that has found the number of private-sector jobs to be growing significantly faster in the city than across the rest of the country” (p.1).
Estimates as reported by the US Department of Labor have experienced flaws in the “real” percentage of those who are unemployed. The figures of unemployment are extremely high. New York City is not the only region experiencing this issue. The same problems vary throughout the United States.
What is the reason for high unemployment? High unemployment has caused many to stop looking for work, work in a field that they may be overqualified for, or maybe remain employed in a particular field or company. Some employees who are currently employed in a company that they have worked for longer periods of time may want to pursue another career or work for another company. Many people are reluctant to take risks that may cost them their livelihood; so they endure it.
What is America going to do to solve this nationwide issue? This is the question that needs a resolution. There are millions of people who are unemployed because there is a growing market of people entering the workforce and switching careers due to the demands of technology and other sources. Jobs are not being added based on the high growth rates of those seeking employment.
References
McGeehan, P. (2013, February 7th). Growing Work Force Accounts for High Jobless Rate, Study Says. Retrieved from The New York Times: http://cityroom.blogs.nytimes.com/2013/02/07/growing-labor-force-account...
