Unemployment and America

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Unemployment Rates
Daniel Park
March 28, 2013

America continues to have a high unemployment rate that causes many Americans to move out of homes, while South Korea has of the lowest unemployment rate. The U.S. has struggled with continuous rise of employment rates since 2008. The main focus to the issue is creating jobs. America believed that creating jobs would be able to help the economy because people would be able to get jobs. So the government tried to add as many jobs they would be able to create. The government even created bills to help people find work so that they would not be unemployed. Although an abundant amount of citizens found jobs, it was not easy to lower the unemployment rate. Many of Americans citizens are mental or disable and it is difficult for them to find a job that treats them equally. This is an issue out of many other troubles that are the reason for high unemployment in the United States. America needs to be able to help and support the creation og jobs because America has one of the highest unemployment rates. Unemployment is important in the US because people are forced to move out of homes. The Great recession has caused people to move to a lesser home instead of going to get a bigger house or for a high-paying job. Before the economy crashed, 41.3% moved locally to own a home or settle in a better neighborhood. But during the recession; only 30.4% moved for those reasons. The percentage of people who moved to settle in a better neighborhood or moved locally to own a home was less than half the population. But the Great Recession caused an 8. 7% difference between the people who moved for their benefit. Roderick Harrison, a demographer at Howard University in Washington D.C. said it is going to be year before African-Americans return to their pre-recession trajectory. He said this because unemployment and foreclosure rates are higher among blacks than whites. The different unemployment rates vary by ethnic group, which makes one ethnic group to get jobs because of an abundant amount of people are trying to get work. During the 2007-09 recession, 9% of Americans (which is about 4 million) and more moved to cheaper housing or doubled up with family and friends according to an 2013 analysis. The US fails to address the unemployment issue because while they try to cut government spending, jobs are cut too. Between 2008 and 2009, there a sharp rise of the unemployment rates, 8,924,000 to 14,265,000. The government has cut 719,000 jobs since President Barack Obama took office, according to the Bureau of Labor Statistics. During Obama’s office during 2008, there was a sharp rise of the unemployment rates from 5.8% to 10.2% during the years of 2008 to 2013. There are job losses even though the goal for the government was to create them. The unemployment rate hits 10.2% which is the highest in 26 years and reaching double digits for the first time in 26 years. The sharp rise in unemployment caused to lose 190,000 net jobs which intensified pressure on the Obama administration to show results from the $787 billion package of spending unleashed early this year to spur the economy. South Korea is able to do a better job than America because South Korea uses a system called “chaebol” that was able to help South Korea during the global financial crisis and help people with disabilities. For people with disabilities have less minimum wage, even though America’s policy for employment said it would give “special” employment wage. South Korea on the other hand gives many benefits for people with disabilities. South Korea has a system called Chaebol (jaebol in Korean) which is a cluster of many companies around one parent company. The companies usually hold shares in each other and are often run by one family. The system was able to help South Korea during the global financial crisis and recovered faster than any other rich country. South Korea laid great store by education...
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