Unemployment Rate The Disparity In The Unemployment Essay

PAGES
3
WORDS
814
Cite

Unemployment Rate The Disparity in the Unemployment Rate in the United States

A recent article in the Sun Journal by Margaret Fisher (2012) has raised some serious questions as to the true state of the economy. While statistics from the department of labor assert the unemployment rate has dropped, giving the impression that the economy is in a recovery mode, Fisher maintains that this is misleading due to the fact that many people have stopped looking for jobs. When people stop looking for work and drop out of the system the unemployment rate goes down.

Currently the unemployment rate in the state of North Carolina is 1.3% lower than last year and has been steady or decreasing over the same period when it was 10.6%. By comparison the national rate has consistently decreased over the same period from about 8.9% to7.9% today.

Unemployment Rate in North Carolina as Compared to the Nation

North Carolina

National

(Fisher, 2012)

Fisher (2012) asserts that the reason North Carolina's unemployment rate is significantly higher than the national rate is due to its reliance on the manufacturing industry, much of which has been outsourced overseas. The implication for the rest of the country does not bode well. In...

...

states. Furthermore, the state may see an increase in the unemployment rate since it is one of six states with the highest increase of people applying for unemployment benefits.
Discussion

The current financial crisis began in September of 2008. According to an editorial in The New Millennium Times ("Why the 7.8% Unemployment Rate is Misleading," 2012) the Bureau of Labor Statistics (BLS) are misleading because while employed is defined broadly, the definition of unemployed is narrow and does not reveal the true number of individuals without work or underemployed. The BLS definition of the labor force is the sum total of employed and unemployed persons. The official unemployment rate is a simple fraction of the unemployed over the labor force. The definition of those employed, including full time and part time workers 16 and over, is extremely broad and designed to include as many people as possible within the ranks of the employed. One could work one hour a week or be an unpaid worker in a family business and be counted as employed. The definition of people who are unemployed are those 16 and over who are not employed but sought employment within…

Sources Used in Documents:

References

Cox, J. (2012, August 7). "Real" unemployment rate shows far more jobless. CNBC.com. November 25, 2012, from http://www.cnbc.com/id/48468748/Real_Unemployment_Rate_Shows_Far_More_Jobless

Fisher, M. (2012, November 17). Unemployment rate decrease may be misleading. Sun journal, Kingston Free Press. New Bern, North Carolina. Retrieved November 25, 2012, from http://www.newbernsj.com/news/local/unemployment-rate-decrease-may-be-misleading-1.51517

Koba, M. (2012, September 12). Unemployment: CNBS explains. CNBC.com. Retrieved November 25, 2012, from http://www.cnbc.com/id/44451664/

"Why the 7.8% unemployment rate is misleading." (2012, October 8). Third millennium times. Retrieved November 26, 2012, from http://thirdmillenniumtimes.com/why-the-7-8-unemployment-rate-is-unhelpful-and-misleading/


Cite this Document:

"Unemployment Rate The Disparity In The Unemployment" (2012, November 29) Retrieved April 25, 2024, from
https://www.paperdue.com/essay/unemployment-rate-the-disparity-in-the-unemployment-83278

"Unemployment Rate The Disparity In The Unemployment" 29 November 2012. Web.25 April. 2024. <
https://www.paperdue.com/essay/unemployment-rate-the-disparity-in-the-unemployment-83278>

"Unemployment Rate The Disparity In The Unemployment", 29 November 2012, Accessed.25 April. 2024,
https://www.paperdue.com/essay/unemployment-rate-the-disparity-in-the-unemployment-83278

Related Documents

This is what has led to so many foreigners working in the country already. The foreign workers are therefore a symptom of a greater problem. This problem is not macroeconomic failure -- the Saudi economy is robust and creates jobs -- but is simply does not recognize that macroeconomic principles alone will not address the issue of unemployment among Saudi nationals. Consider the case of China as corollary. In both

unemployment and tax reform on our social structure including theoretical framework on functionalism, social conflict and symbolic framework and so on and so forth. The Works Cited eight sources in MLA format. Unemployment Unemployment has long been the cause of ruin of the American society as well as the global social structure. Persistence in unemployment and the related tax reforms have done much harm than have benefited the mankind on this

For example, one Pontiac Assembly plant in Pontiac, Michigan, "was running three consecutive eight-hour shifts, employing 3,000 people and making 1,300 trucks a day," in 2003, but in the summer of 2009, the plant had only 600 workers and "was running just one shift" (Mahler 2009, p.1). As a result of the failure of GM, the housing bubble, and the explosion of easy credit and 'creative' financing, many Michigan

Arrest Rates Against Race Is there a relationship between race and arrest rates? Is there a relationship between race and arrests Rates? For over a century, the disproportionate arrests and conviction rates continues to raise controversial debates within the western nations. The prevalence of higher black arrests than the whites has been raising controversial concerns about the question on whether the criminal justice systems have been getting biased towards the minority groups. A

inflation rate? Is inflation a worry or are we in a period of stable prices? What is the unemployment rate? Will the high unemployment rate cause deflation? What is the current structure of the labor market? How does the current structure affect the threat of cost push inflation or deflation? What is the growth rate of GDP? Can you find predications on the future growth rate? What is the income distribution? How

Ethnic/racial and socioeconomic factors would not be considered. Children would not need referral from any social services agency. This would eliminate the stigmatizing that accompanies enrollment in current programs, including Head Start. References Derezotes, D.M., & Hill, R.B. (n.d.). Examining the disproportionate representation of Children of color in the child welfare system. Race Matters Consortium, Casey Family Programs. Dettlaff, a.J., & Rycraft, J.R. (2010). Factors contributing to disproportionality in the child welfare