The US Unemployment Rate

 The U.S. Unemployment Rate

Ethan Kettner

Currently in the US it’s no surprise that the current unemployment rate is where it’s at. The population of the world is growing at a rate that is exponentially greater than the job growth for skilled high paying positions. Not only that, but we’re fresh off of one of the worst economic recessions in history from covid. The current unemployment rate is at 3.9% which is still high, and calculates to aout 198,000 U.S. citizens that are currently unemployed. The covid-19 pandemic was the greatest economic downturn since the great depression, because the unemployment rate reached 14.9% in April of 2020 which is the highest since the great depression. I believe that the unemployment rate is a bigger problem that the government has to narrow their broad power on because the unemployment rate also directly correlates to the poverty rates and the country's GDP. 

It’s not as many jobs are not hiring because currently most commercial companies and restaurants are understaffed but people are just not interested in taking part in low paying skilled jobs like that. So because of this the high skilled and paying jobs are decreasing at a n exponential rate so the work force can only be speculated to become increasingly difficult for future generations. 

You might ask yourself what are options that the government has to increase employment. Professionals speculate that one option is if they were to provide government funded training programs where unemployed individuals can get the education and experience that is needed for them to get back into the workforce. But as we know in economics there are always tradeoffs for everything. If we were to go through with this then that would also greatly increase government spending which is already a problem in our nation with our global debt growing everyday. Which also comes with trade offs which might force the government to have an expansionary plan of action to increase taxation to repay for the government spending. 

So in conclusion, I applaud the government and any readers of this blog post for understanding the problem at hand in our nation and if given the opportunity, help those people who are living under the poverty line. 

Works Cited

Amadeo, Kinberly. "What is the current U.S. unemployment rate?" The balance, 7

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Trading economics. "United States Unemployment Rates." Trading economics, 12

     Jan. 2022, tradingeconomics.com/united-states/unemployment-rate. Accessed

     12 Jan. 2022.