Thursday, September 26, 2019

US long-term unemployment Essay Example | Topics and Well Written Essays - 250 words

US long-term unemployment - Essay Example Current macroeconomic concerns include whether the economy is in a sustained recovery, rapidly reducing unemployment, speeding a return to normal output and employment growth, and addressing government’s long-term debt problem. Harvard Professor Robert Barro holds that unemployment is not the cause of the prevailing high levels of unemployment insurance benefits, instead, unemployment is the result of long-term unemployment. This argument is highly questionable owing to the fact that lest that 40% of the unemployment in all states barely qualify to receive any given socioeconomic benefits. His argument is fundamentally flawed owing to the fact that the current level of unemployment far surpasses the level of employment that prevailed between 1981 and 9182. The stand taken by Paul Krugman is quite interesting and reveals the inner workings of unemployment. He believes that employers, who are predominantly oligarchs, play a huge role in the high levels of long-term unemployment. He believe that employers are more willing to employ and individual who is already employed as opposed to individuals who are looking for employment. This, in his opinion, creates a situation that leads to certain individuals experiencing for a long time, ending up heavily relying on social benefits that are offered by this state through unemployment

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