Economics and Unemployment
This research paper was written not only as a class project but also an informative way to give the reader an in depth learning experience of the recession in 2001. I will be discussing topics like the effects the 9/11 attacks had on the recession and categories of workers and last but not least regional differences. Lets analyze the rise in unemployment first. The Labor Department said new jobless claims fell to 427,000 for the week ended Nov. 17 - a week shortened by the Veterans Day holiday - from a revised 444,000 a in just a weeks time before. Economists surveyed by Briefing.com expected 452,000 new claims. That is way too much to overlook so I’m sure that the government had their hands full during those two bad weeks. During the week of November 10 over 3.7 million dollars went to claiming workers benefits. Look at this graph to see how the unemployment curve kept rising: As one can see from the graph the unemployment skyrocketed to a crazy 5.4% by October. The effects of the 9/11 tragedy took their toll on our hearts and our fellow Americans. We can see how many ways it has affected us but we can only argue so much to see how it has greatly affected the unemployment rate. By October the unemployment rate was . . .
Let’s now take a look at the most types of workers laid off. Well in a report from the wall street journal I read that many workers laid off were treated for depression. A job could mean working at Wendys or it could mean back in an office, again I don’t know. These employers relied so heavily on their stocks and highly paid employees that there were just too many people to pay at the end. First the main step is to get the economy back on its feet, which it has already done. First off the northeast suffered greatly due mostly to the fact that the 9/11 attacks were there. Silicone valley suffered many losses such as employees. Many workers are said to hit rock bottom and get what is know as a REALITY CHECK and get back into their daily lives without slowing down anyone else’s. Obviously we can see how and why people are losing their jobs. 2) Replacement of workers on full benefits with other more flexible workers (new workers recruited in mid-career, part-time workers, contracted workers, and temporary workers supplied by temporary staff placement agencies). The West coast did terrible also since mainly that area is used for computers and micro processing equipment. That way, in no time will the economy be back to where it was before 9/11. Our ground is too hard to penetrate.
Common topics in this essay:
Veterans Day, South Midwest, BUYING SPENDING, REALITY CHECK, American Federal, , Labor Department, workers benefits, unemployment rate, effects 9/11, graph unemployment, workers laid, regional differences, depression workers, seniority-based salary, 9/11 attacks, laid workers, |
Acceptance Essays
