Question

I need a research paper outline on unemployment in the US

Thanks!

Answer 1

Generally, unemployment falls during times of economic growth and increases during recessions, putting tremendous strain on public budgets as tax revenue drop and social security net costs increase. Decisions on government spending and taxation (fiscal policy), and U.S. Adjustments to the Federal Reserve interest rate (monetary policy) are important instruments for managing the unemployment rate. There can be an economic trade-off between unemployment and inflation, since policies aimed at reducing unemployment can create inflationary pressure, and vice versa. The United States Federal Reserve ( Fed) has a dual mandate to achieve full employment while maintaining a low inflation rate.

According to the Bureau of Labor Statistics - the United States' standard fact-finding department. Labor economics and statistics Federal government-unemployment declined from 2010 to 2019. Following a peak in 2010 arising from the financial crisis of 2008 a pattern of rising unemployment emerged. Unemployment shrank from 9.6% in 2010 to 3.7% in 2019.

Additional BLS statistics paint an interesting picture of joblessness in the US. The state with the highest (seasonally adjusted) unemployment rate was Louisiana at 6.9 per cent in March 2020, followed by Nevada, West Virginia, Columbia District and West Virginia. Unemployment at 2.2 per cent was the lowest in North Dakota. As of April 2020 (not seasonally adjusted), workers in the leisure and hospitality industries suffered the highest unemployment rate of any industry at 39.3 percent.

In April, the overall unemployment rate shot at 14.7 per cent, the worst recorded figures since the compilation of monthly unemployment statistics in 1948. The brunt of the unemployment crisis has fallen on unskilled and temporary workers, unauthorized immigrants and those working in the gig economy: Uber and Lyft both took on a pounding as people stopped using car services in favor of their feet during a two-month nationwide lockdown that is only now slowly beginning to ease.