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Essay / Research Paper Abstract
This 8 page paper looks at the problem of unemployment in the United States. The paper first established the problem looking at the level of unemployment in general and specific terms and then considers the way that fiscal policies could be used to tackle the unemployment problems. The bibliography cites 6 sources. The bibliography cites 6 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEUSunemploy.rtf
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Unformatted sample text from the term paper:
and to allow for those in transition between jobs. Estimates usually argue that this level of between 2% and 4%, William Beveridge argued that this rate should be 3%, however,
estimates have varied, some being as high as 7%, while others such as Friedman have argued it is variant dependant on the economy. However it is considered, there does need
to be some unemployment in an economy. In the US the seasonally adjusted unemployment figure for the country was over 7 million for January 2007 (BLS, 2007). This is a
large number and it is indicative of the current ongoing issue of unemployment in the US. In January 2007 there was a slight national rise in the unemployment, with
the numbers equating 4.6%, a small rise from the 4.5% level of unemployment in December 2006 (Hennessy-Fiske, 2007). In the opinion of most economists, but not all, this
is above the level that is needed in an economy and defined by Tobin with as Non-Accelerating Inflation Rate of Unemployment (NAIRU) and is sufficiently high to cause a problem.
This is an ongoing issue in the US, however, the main concern is not only the current levels but some of the projections that indicate further rises in the future.
However, it may also be argued that nationally it is not really an issue as unemployment levels move in cycles and the current increase is very constrained compared to the
peal cyclic level of 7.8% in June 1992 (Makinen, 2006). There are some arguments that may be used to argue that as
this is within the potential ranges given for the NAIRU, furthermore in recent history the rate has remained fairly stable with a low of 3.9% and a high of 6.2%
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