UNEMPLOYMENT
The ability and the strength of the economy is producing even greater opportunity for Americans. Because of hurricanes in 2005 economy overcome with major shocks. For instance, over the past year, inflation adjusted Gross Domestic Products estimated to have grown at 3.6 percent rate, whereas in the period of 2001 total output and income have frown almost 14 percent. That shows the real loss in business. Many people were job less at the particular year. The unemployment rate which is 4.6 percent now is much lower than the average unemployment rates of the 1970’s, 1980’s and 1990’s. these rates shows that today the unemployment rates is fine means people quit one job an search for other jobs. Moreover, the economist believes that the unemployment rates will be lower in coming years.

After the 2001, the jobs rate went really down. Many people were out of there jobs as a result the taxes went up mean clash in economy. People tried to spend less on the expenditure that’s what we called inelastic demand. Decline in the price would not let people mind to buy it. However, this loss is filled up now.
Some Americans family have benefited directly from the growth in the economy. In addition to the strong job growth, they have seen real income after the tax. The income per person is increasing by 7 present. Then what about the people that don’t have strong job (good job). The people having lower income have to pay a lot because of this like tax, mortgages rates, all of the household expenditure taxes etc.
Another thing is if the economy or social cost of unemployment rise, then workers insecurity will rise even if job stability or unemployment towards him is unchanged. For example, usually job loss is due to structural not by completion, but average job importance is unchanged. If the job loss is due to competition, the competitor will have job. But if it is structural and the loss is permanent therefore that particular job no longer exist anywhere, then it will be much more costly to be unemployed. Whereas if that worker rehired later to that same company in different occupation at really lower income. Does it worth?
In today unemployment is mainly causing by two factors one is seasonal unemployment. Think about the people who worked in the field of agriculture. For instance, at Christmas there are many job that has been given to high school students, but after the Christmas time is over they don’t have work anymore. What does this do to the self-esteem as there first job? In addition, as we know the summer is getting short, what does u think about the ice creams trucks and the ice creams companies? They have fewer periods of job and earning.
Other factor is the people having high education such as masters are not getting jobs in there profession. I read in the article that the “Sony Play station, company are hiring people with masters degrees to do game design, people with engineering degrees to work the help desk. This is our “high tech work force” today. I’m so sick of it. I mean my dad’s generation had a whole country to build and my engineering generation had computers and the internet to build. Now what do we have? Video games, since the only thing Americans want is to be entertained and watching their big screen TV’s. In my conclusion our education system should ensure the students from a particular degree they can go for at least two different kinds of job (I mean two professions). Our economy has jobs but not according to satisfactions of our youths.

 

 

 

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I believe you are referring to Disposable Income here. If their wages go down and they quit purchasing the goods or services, that is Elastic Demand. When consumers continue to purchase the goods regardless of price or supply issues, that is Inelastic demand. Bread and Milk are often used as examples of Inelastic Demand. People need those itmes, so they are purchased as a fairly fixed rate.
Regardless, I find this section quite confusing. There should be a reference for the drop in employment in 2001. State the actual numbers of unemployed people for the time period to support your claim. And show the same values for a time period before and after this 2001 decline.

Overall, the speech is about Unemployment. And your speech should have a Premise, or Theory, you are either agreeing with or disagreeing with. Instead, you wander off on a tangent about the quality of jobs and the number of Job Opportunities, not the issue of Unemployment. State your case about Unemployment. Is there too much? or too little? The issue about requiring an Engineering Degree to work at a Help desk is more suitable for a discussion of "Under Employment", where someone of high skill level is only able to find work that does not utilize their full skillset.

Also, you begin by stating there is an abundance of opportunities for American in today's economy, yet the last part of your speech complains about the lack of opportunities for recent grads. A contradiction there.

You need to support the comparison of today's unemployment rate with the percentages for the 70's, 80's etc by supplying values for comparison. Stating that those were better or poorer years should have a static numeric value to prove your example.

And you should define "structural unemployment" for the benefit of those who might not be aware of its definition and the impact it has on a failing Economy.

 

 

 

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