Please analyze and discuss the long-term implications for the U.S. Economy of the following:
Increasing long-term unemployment for full-time positions© BrainMass Inc. brainmass.com March 22, 2019, 2:50 am ad1c9bdddf
Long-Term Unemployment and the U.S. Economy
It is clear that long-term unemployment for full-time positions does not have long-term implications to the U.S. economy. Rather it is the economy that has a short- and long-term impact on unemployment whether for full- or short-time positions. This relationship, in my knowledge and research, has never been reversed.
During the recent economic recession in the United States, the unemployment rate peaked at more than 8% particularly after June 2009 (Howard & Shipps, 2013, n.p.). Howard and Shipps (2013) claim that the recession is the leading cause of this dismal record. In the recorded economic history of the U.S., this economic crisis records the longest unemployment rate that is above 8% since a similar trend was recorded in the 1948.
This phenomenon was also observed during the economic crisis in the 1990s (1990 to 1991) when unemployment increased to 7.8% before it stabilized at 3.9% in September 2000. The long time it took for the general economy specifically unemployment to recover after a recession is typical, which further proves my theory, as stated in the opening paragraph, that the economy impacts unemployment rate instead of the opposite.
Furthermore, in the most recent economic crisis, Howard and Shipps (2013), at its peak there were about 14 million people in the United States who do were not gainfully employed. Of this number, about 6 million were unemployed ...
This solution involves a discussion on the long-term unemployment and the U.S. economy.