People need income in order to consume, and consumption leads to production, and production leads to higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern economies. A lower unemployment rate, however, is not the end of the problem. The type of employment and the price of labor (wages) have to be sufficient for consumption (which is the major component of GDP) for the economy to be healthy. If wages are low or if the prices in the economy are high, consumption would be low and thus, production and demand for labor would be low as well. So high unemployment rate, high part-time employment rate for economic reasons, and low wages could have negative effects on economic growth.
Assignment Description
In this assignment, you need to analyze unemployment-related issues. You need to analyze only one issue (topic).
You are going to study the past trends, provide an overview of the current status, and provide solutions to overcome any problems related to the issue you are studying. You will use data, articles, and government reports to draw a clear picture of the current unemployment issues.
Some unemployment-related topics that you could choose from (choose only one topic) include the following.
Part-time employment rates for economic reasons
Unemployment rates among young college graduates
Unemployment rates by gender
Unemployment rates among Black and Hispanic communities
Low supply of labor (professionals) in certain industries
High supply of labor in education
Low wages by profession and their causes
Low demand for labor in some industry (you could choose whatever industry you wish)
Low wages in some parts of the country
High unemployment rate among workers with high school diploma or less
Sample Solution
