An Individual and Societal Dilemma Essay

Published: 2020-04-22 08:24:05
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Category: Dilemma

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One of the major alterations in our economic activity is unemployment. Unemployment is a phenomenon which greatly affects the economy of a nation. Unemployment refers to the people with no current jobs. Unemployment rate is measured by the Bureau of Labor Statistics (BLS) through household surveys. BLS attempts to obtain the number of unemployed workers and the number of people who gave up looking for a job. The unemployment rate is characterized by the number of unemployed people as a percentage of the total labor force (Amadeo, 2008).

Unemployment is caused by many factors. It is triggered by major societal changes such as rapid technological change, business cycle or recessions, seasonal factors in some industries particularly such as changes in tastes and climatic conditions which affects demand for certain products and services (Causes of Unemployment, 2007, n. p. ). It is also caused by individual factors such as peoples inherent perceptions and motivation to work and look for jobs.

It is reinforced by their values and attitudes on particular jobs and employers. Peoples employment is also affected by their skills and training, race, color, ethic background, religion and faith, and age (Causes of Unemployment, 2007, n. p. ). Unemployment is both an individual and societal dilemma. When workers lose their jobs, the families and country also experience losses. Families suffer when unemployed individuals lose their wages and salaries that are needed to support their families.

The country, on the other hand, loses goods and services that could have been produced due to unemployment. Because of the depleted income, workers lose their purchasing power that may result in the unemployment of others (How the Government Measures Unemployment, 2001). Unemployment also renders chain effects that are affecting every member of society. It may even lead to recession in the economy or increase in poverty rate. It may further bring about other economic issues that no longer solely concern the individual but altogether affect the society.Thus, unemployment generates problems not only for the unemployed, but also for the whole society.

References

Amadeo, K. (2008). How is unemployment defined?. About. com. Retrieved August 15, 2008 from http://useconomy. about. com/od/supply/f/unemploy_define. htm. Causes of unemployment. (2007, August 27). Bizcovering. Retrieved August 15, 2008 from http://www. bizcovering. com/Business-and-Society/Causes-of-Unemployment. 42495/1.

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