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Unemployment and the Prosperity for a Nation (Economics)

Unemployment and the Prosperity for a Nation


As the new Millennium approaches, our Nation¡¦s ability to prosper depends on our ability to achieve economic expansion. In order to achieve economic expansion though, all resources will have to be used to their full potential. Workers are a vital part of the process and need to reach 100% of their potentials. Unfortunately, unemployment is also part of the equation which leaves a small percentage of the workers who are willing to work, out. That means that the number of people looking for work are not a contributing factor of the social and economic expansion. The percentage of people out of work, out of any given country may vary significantly. In continents such as Europe, they may be in double digit numbers while the US the numbers are at an approximate 5.3% of unemployed personnel. The ideal unemployment rate according to some economist is approximately 5.5%, even though that number can fluctuate to as high as 7% by ...

Posted by: Angelia Holliday

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