Explain Why The Unemployment Rate: Why It Matters To Everyone

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The Unemployment Rate: Why it matters to everyone
The unemployment rate is a measurement of the current number of citizens that are considered unemployed or without a job. The United States unemployment rate has been a major topic of discussion since the Great Recession of 2008. One of the main subjects of focus for government representatives, both local and national, has been what the unemployment rate is and how can we continue to lower it. A low unemployment rate signifies that a small number of citizens are without a job. With more individuals working, that could mean a more stable economy, better moral and more jobs being filled.
In 2017, the United States unemployment rate hit an all-time low. Currently, the United States unemployment …show more content…
Statistics have shown that there have been correlations between high unemployment rates and an increase in crime. Also, as more individuals in a town or city become unemployed, this leads to negative effects on the local economy and the community as well. Local business’ may see a decrease in sales, because locals will not be purchasing as much. This can lead to a dwindling community economy. Working individuals are also affected by layoffs in the workplace with an increased workload. As their coworkers are laid off, that means potentially more work and longer hours for the employed worker, all while being paid the same …show more content…
This can lead to an even worse financial situation for the individual in the future, and by that time they will have no back up plan. Also, families that have been affected by unemployment may not be able to take advantage of some educational opportunities that have either been offered to the parents or the children. When individuals do not take advantage of educational opportunities, that means a missed opportunity in learning new skills and potentially putting yourself ahead in the workforce, finding a job and being a positive factor to the local
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