Essay on Causes of Unemployment - 881 Words

The unemployment rate slowly started getting worse and it may have hit all time lows. With unemployment rates soaring the causes of this are from aging, teenagers, and outsourcing even though some refute with saying it is self inflicted. One of the things that cause unemployment to keep increasing is the age of people. Seeing as there is almost no family not affected by this great recession, there must have been a cause. â€Å"You are aging as you are not employed, and nobody is looking to hire somebody who is old,† (Aaronson, pg. 6). When older people are laid off they keep aging and there are young kids coming out of college looking for the same job. Every single year more and more kids are graduating from college with degrees and the†¦show more content†¦Since, they are in school; it is very hard to have a job with the amount of credit hours that kids will be taking. These kids also don’t have a degree just yet and they are trying to compete for the same jobs as adults that have experience in the field and also have a degree from college already. â€Å"Youth unemployment may have hit bottom and could increase in coming months and years,† (Miller, 4th paragraph). The reason that the yo uth unemployment could be going up in the future is because the old adult percentage of people working is going down and they are starting to hire more teens and young adults. This is helpful to help hire more of the younger population but, this does not solve overall unemployment. The reason that there is a high unemployment rate is because some of the work is leaving the country. This is the act that is called outsourcing. â€Å"China is expanding,† (Long terms, pg. 10). With China expanding it gives the U.S. more of a chance that they give their work to China or a different country. The reason that we give our work away to other countries is because other countries such as China can complete the work for almost half of the cost and sometimes even cheaper than that. â€Å"Overall economy is shrinking,† (Aaronson, pg. 3). This is what happens when outsourcing is happening. As long as outsourcing is happening our U.S. economy only has one thing to do and that is to shrink. The reason that it is shrinking is because businesses large and small areShow MoreRelatedCauses of Unemployment1070 Words   |  5 PagesCauses of Unemployment In Malaysia, the unemployment rate is considered low compared to the early years such as 1986 where the unemployment rate reached as high as 7.6%. Today the unemployment rate is still affected by many factors and in order to make sure it doesn’t reach as high as before, we need to find out the causes of unemployment so that we can provide a solution to the cause of it. 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