Unemployment Is A Problem Fundamental To The Workings Of The System.

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Unemployment is currently at 10.4 percent (meaning over 4.3 million people out of work). By its own press and politicians declaration, Germany has been stuck in a Reform a traffic-standstill on reforms for more than a decade. Unemployment is not unique to economies in transition. Even much stronger economies, such as those of France and Spain, suffer from it. Unemployment is behind the public conflict between the new political leaders of Germany and France, who want a loose monetary policy, and their central bankers, who favor a continuation of tight money. This conflict has been exacerbated by the introduction in January of the common currency, the euro, and the European Central Bank. <br><br>Unemployment is never easy on families. It is difficult to pay bills and to buy food. Unemployment is not a "pool" but rather the difference between two quite fast-flowing rivers. In any one month, almost a quarter of the claimant count measure of unemployed leave or join the count (table 10). Unemployment is reported as more common among young people compared to the general level of unemployment. Inequity in health status and life-satisfaction is related to unemployment.<br><br>Unemployment is considered low or high relative to the so-called natural rate of unemployment. Inflation is considered low or high relative to the expected rate of inflation. Unemployment is also highest among those with some formal education. In the past, these young graduates could expect employment in the public sector, but as formal education has significantly expanded over the past generation and government coffers have come under increasing pressure, the public sector can no longer absorb what public school systems produce. Unemployment is certainly a serious issue, but most complainers completely miss the mark in terms of the causes and cures of unemployment. For example, should Americans be worried that telephone-answering jobs are being shipped overseas?<br><br>The government will not be persuaded to create jobs by endless lobbies and reports showing this is a good idea. Unemployment is sharply up and job growth is down in New York or Los Angeles, Miami and Chicago while immigrant flows have remained high. Profuse immigration into Newark and Jersey City has not remedied those two areas' chronically weak job creation and lackadaisical economic performances. Unemployment is very dependent on productivity and GDP growth. The World Bank predicts that with a GDP growth of 0, the total expenditures on unemployment benefits could equal 2.3 of GDP.<br><br>Unemployment is one of two primary macroeconomic problems. The other is inflation. Unemployment is the focus for a growing generalised attack on the Tories. Unemployment is said to exist: all those willing to work at the prevailing wage can not find work. Interestingly, as wages increase above W*, unemployment goes up.<br><br>Job losses are no longer contained in sectors associated with the housing bust or manufacturing slowdown, but are now spreading throughout the economy. The current labor market slowdown comes on the heels of the weakest jobs recovery in over seventy years. Jobs in the index fell 30,000 last month, and are down 264,000 this year. In 2005, during the heart of the housing boom, they were up 388,000. Job loss can quickly do away with workers' health insurance coverag e. During the 2001 recession the unemployment rate rose from 4.2 to 5.6 percent, and an estimated 1,009,000 Americans lost health insurance coverage because of economic trends.<br><br>Article by Christopher West<br>http://whoischriswest.com

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