July 6th Unemployment Discussion

Unemployment:
People that are out of work because they got laid off, quit, or had a labor dispute

Labor Force:
The total number of people employed or seeking employment in a region

Unemployment Rate:
Number of people looking for work divided by the number of people actually employed
**Surveyed every month**

Definition of an Unemployed Person:
A person who does not have a job, actively looked for work in the prior 4 weeks and are currently available to work

2008 Statistic:
145 million people employed
9 million people unemployed
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154 million in the work force

Natural Rate of Unemployment:
5%

Social Problems Created by Unemployment
1. Poverty resulting in lack of spending power
2. Increased suicide rate
3. Domestic violence
4. Family break-ups
5. Increased crime
6. Homelessness
7. Young people with not enough work experience
8. Social disillusionment
9. Mental illnesses
10. Lower caring about family

Works cited: http://www.solhaam.org/lists/theme19.html