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Essay / Research Paper Abstract
A 5 page paper discussing sources and types of unemployment, particularly as it relates to the course of the overall economy. The economy is seen as continuing to recover from the recession that is now officially ended. Unemployment likely will continue to improve as well, but it is highly unlikely that it will return to the same kind of distribution that existed before September 11. The shift has been underway for years, and we can expect it to continue in the future. The new jobs that will be created most likely will not consist of semiskilled factory jobs. Bibliography lists 5 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_KSunemp2002.rtf
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Unformatted sample text from the term paper:
stock market was uncertain but holding its own, and many of the nations largest companies were announcing disappointing second quarter business results. After the longest period of economic expansion
known in modern times, the US economy had entered a decline that some were saying was a recession. Others were not as quick to use the dreaded "R" word,
and pointed to strong performance in several sectors. No one was able to remain in denial, however, and the US officially entered recession
following the January 2002 announcement of business results in 4Q2001. The effects of the recession have been easing for some weeks, and it appears that the recession has been
mild and now is over. Unemployment is one of the last economic indicators to recover, however (Barkey, 2002), and unemployment rose again in March 2002 to a national rate
of 5.7 percent. Current Unemployment The current picture of unemployment is far from straightforward.
Direct and dramatic changes can be blamed on the recession, but the fact is that there are systemic changes occurring in the US economy. Manufacturing continues to decline as
the face of business continues to change. Business is more competitive than ever before, and increasing numbers of manufacturers have moved their manufacturing operations off shore as they seek
to improve internal efficiencies. This shift is a normal one in a mature economy, indeed one indicator of maturity of the economy is a gradual and continual shift from
manufacturing to service. This is indeed the situation that has existed in the US since the late 1970s. "From January 1997 through
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