Unemployment
The economic concept involving unemployment is quite simple. When an economy is growing and is in an expansion, unemployment is usually falling; when an economy is in a recession, unemployment is usually raising, although often in a lag (Colander 140). Unfortunately, due to the events of September 11th, there was no lag. The Labor Department's November job report showed that businesses lopped off another 331,000 workers from their payrolls last month, after shedding 468,000 in October. Losses of this size are only seen in recessions. Plus, the unemployment rate continued its upward climb, reaching 5.7 percent. That is up more than a full percentage point since July, and the rate is sure to peak at well over 6 percent in 2002.Many of the job loss occurring in the labor market today are cyclical in nature. The fluctuations in our economy (who am I kidding-I mean the sudden drop) due to the terror attacks on September 11th have created the largest sudden job loss in a few decades. It is like a vicious cycle-the economy deviates, people lose their jobs, then people quite spending, and business suffers, which creates a recession. However, the American economy has a habit of rebounding strongly. Since 1945, growth of 5
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Some common words found in the essay are:
Labor September, Dept Labor, Spending America's, October Losses, November Americans, Americans America's, , Department's November, Federal Reserve, Reserve's December, september 11th, labor markets, jobless rate, job report, cooper 31, dept labor, november job report, 57 percent, november job, department's november job, low-paid workers, job loss, labor department's november,
Approximate Word count = 1268
Approximate Pages = 5 (250 words per page double spaced)
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