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Essay / Research Paper Abstract
This 9 page paper looks at the unemployment rates in the US between 2007 and 2012, considering how this has impacted on the economy and looking at how the employment levels are likely to impact on the economy in the future. Different issues are considered in the assessment, including the presence of sticky wages and the presence of structural as well as cyclic unemployment. The bibliography cites 15 sources.
Page Count:
9 pages (~225 words per page)
File: TS65_TEunempUS12.doc
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Unformatted sample text from the term paper:
and consider the way it has impacted and way it may impact in the future. Looking at the US and the way unemployment has increased over the last five years
it is possible to assess the impact this has had and look at the potential future influences with reference to relevant economic theories. The US has seen unemployment increase
over the last five years, peaking in October 2009 with an unemployment rate of 10% (BLS, 2012). The unemployment rate demonstrated a rapid increase following the onset of the recession.
In 2007 the unemployment rates was unremarkable, showing a rate below the average since 1948, which is 5.8%. At the beginning of 2007 unemployment stood at 4.6% and moves around
that mark, in November 2007 it is 4.7%. In 2008 there is a gradual increase, by a few points each month until May when the rate of increase accelerates, a
pattern that is seen when April shows unemployment of 5% and May it increases to 5.4%. By the end of 2007 the rate has increased to 7.3%. The acceleration
continues with the rate peaking at 10% in October 2009, and the rate remaining high into 2011. There is a slight decline in 2011, which continues into 2012, with the
April 2012 having an unemployment rate of 8.1%, but this increased to 8.2%. The pattern of an increase and then a slight decrease over the last five years may
be appreciated with the data presented in a graph, pacing the increases and decreases in context. A table with the month by month figures is supplied in Appendix 1.
Figure 1; United States Unemployment Rate, 2007 - 2012 as Percentage of the Labour Force (Trading Economics, 2012) There are some specific issues associated with unemployment which will
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