Homework Writing Help on Unemployment and Economic Growth

Unemployment and Economic Growth

The global crisis that occurred in 2008 is still felt five years down the line. Although some people may not have an idea what could have happened, they are suffering from the consequences of recession. The reason why so many youths in the US are not employed is that the effects of the Great Depression are still felt, as the economy is recovering at a very slow rate. The financial crisis affected almost everyone, as millions of Americans were left without jobs. This has affected the rate of economic growth, as well as job creation. The level of unemployment, as experienced in the US today, is detrimental to its economy because few people will be contributing to the tax revenue, and this has made the country run into debts. Although Americans have remained optimist, financial crisis has rippled to societal problems, as the rate of marriage and child bearing among young people is declining due to unemployment.

Having a college degree is vital in competing for available opportunities in the workforce, but does not guarantee careers in a weak economy. Without college-level learning, many Americans would not manage to compete in the global economy. Employers will always look for college graduates, rather than employing unskilled laborers. For the country to experience a long-term economic recovery, its workforce should be highly educated to realize economic goals. However, slow economic recovery does not spare college graduates, as they are also finding themselves in debts, no permanent jobs, and cannot build careers. Although they have a higher chance of getting jobs in small companies than uneducated individuals, they only enjoy fewer chances for advancement. Loss of hope in building a career have made many young people drop out of school and engage in criminal activities.