Solving unemployment may include decreasing unemployment benefits, getting rid of minimum wage, increasing work benefits and insisting all people get a job. Germany did all of this and experienced a sharp decline in unemployment.
In 2003, Germany used the Hartz reforms to work toward solving their unemployment problems. They took away the incentives people had to not work and increased the incentives to work, even at a low-wage job. In the United States, the rate of unemployment among those of the millennial generation is in the double digits. This also rings true for those without a college education and those with a 4-year degree.Learn More
Unemployment is important because it serves primarily as a measurement of economic health on a local, state and national scale. Unemployment is studied and quantified as a measurement of economic health to demonstrate what sectors are most affected by unemployment as well as correlations between lower rates of employment and people of certain ages, ethnicity and socioeconomic status.Full Answer >
There are many solutions to unemployment, including government-funded training for workers and worker relocation to areas that offer jobs. Organizations like the Library of Economics and Liberty argue that the elimination of social welfare programs would actually reduce unemployment.Full Answer >
Unemployment creates a lack of financial stability, leading to a downwards spiral in social mobility and eventually poverty. The unemployed will have a lower standard of living than most employed people.Full Answer >
Unemployment can have several negative effects on communities, including reducing the quality and availability of housing and reducing the quality of schools and limiting the variety and availability of jobs. Unemployment in communities can occur among a few individuals or affect large segments of the population. Sometimes, unemployment stems from other chronic and external issues, such as national poverty and economic recession, and can be either temporary or long term.Full Answer >