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In: Economics

Analyze unemployment-related issues -- High unemployment rate among workers with high school diploma or less Study...

Analyze unemployment-related issues -- High unemployment rate among workers with high school diploma or less

Study the past trends, provide an overview of the current status, and provide solutions to overcome any problems related to the issue you are studying. Use data, articles, and government reports to draw a clear picture of the current unemployment issues.

Your research needs to be structured with consistent and clear thoughts. It also needs to be supported by facts and data. Your results need to be based on solid facts. Your conclusion and recommended solution need to be thorough and based on your findings and understanding of unemployment and GDP.

Solutions

Expert Solution

Unemployment data collected from the Bureau of labor stattistics suggest that college graduates had unemployment rate of 8.4% while unemployment rate among people with just high school diploma is 17.3%.in 2020. In 2018, unemployment of college drop outs was 13.7% . College graduates are less likely to be unemployed in comparison to people who have just a high school diploma.In 2019, unemployment of high school drop outs was higher in comparison to national unemployment rate in US.

The relationship between job openings and unemployment is mismatch . Jobs exist in firms but appropriate workers are not found.The workers want to work but cannot find proper jobs.The existing mismatch is not controllable by monetary policy of the fed.The unemployment of college drop outs is not cyclical but structural which is due to mismatch between workers skill and employers need.

The common solution to this problem is education . This is considered to be the best solution.Delivering the proper education and training to workers is the primary solution.Thus the appropriate policy is to provide education and training to the unemployed in order to provide support for transition to new occupations  . Vocational education may be encouraged so that high school drop outs will have no problem in getting job because they will be trained . Education should try to meet the needs of the job market.

Rahul Sunny answered 2 years ago
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