Unemployment and why is the unemployment rate so high?

Introduction

Unemployment signifies that part of the population (mostly people between 15 and 64 years of age) that is eligible for and registered as wanting work. The “problem” of unemployment has attracted attention from economists, politicians, and the population at large. In particular, the volatile levels of unemployment are a salient topic in liberal democracies with responsible government and universal suffrage (Solow, pp: 6).

Discussion

Background of Unemployment

In the USA unemployment was furthermore very high throughout the 1930s. From mid-September prices fell. On 24 October 1929, known as Black Thursday, panic selling began on Wall ...