(855) 4-ESSAYS

Type a new keyword(s) and press Enter to search

The Driving Force of the American Working Class


             was the driving force for the growth of the nation many years ago and still is today. The only thing about the workforce today is that it is nowhere near what it used to be back in those days. It all really started in 2009 when the U.S. economy took a huge hit and fell into a recession. Employee layoffs were happening left and right in huge chunks, day after day. During the Great Depression the highest unemployment rate was 25%. Granted, unemployment is not even close to that by a long shot, but it is t good at all. Currently the unemployment rate is at 7.9%. As far as the number of people jobless goes, it is roughly 12,258,000 people in the U.S. without jobs. We are still recovering from a recession, not close to a full recovery, but we are trying. During the recession the unemployment rate hit 9.5% in June of 2009. A couple of months after that, unemployment spiked at 10.0% in October of 2009. The amount of people that were during the recession was an astronomical 15,000,000. It claimed more than 8,000,000 jobs.
             Experts say that unemployment will not go away anytime soon as long as the economy is growing as slow as it is. Sal Guatieri, a senior economist at BMO Capital Markets, expects an ending unemployment rate of 8.3% this year as well as next year. Guatieri said, "I foresee no decline in unemployment because of how tepid the economic growth will remain at 2.2% this year and 2% in 2013. The chairman of the White House Council of Economic Advisors, Alan Krueger, reported that for the 12th straight quarter the economy grew. "I think consumer spending will grow at or below a 2% annual rate and it will remain subdued in the second half of this year," reports Nigel Gault, the chief U.S. economist at IHS Global Insight. .
             Derryck Green, Project 21 member, reported that the latest news how the unemployment rate rose to 7.9% proves once again that the economy is not improving as Obama says it is. He also reported that unemployment for black Americans rose to 14.


Essays Related to The Driving Force of the American Working Class


Got a writing question? Ask our professional writer!
Submit My Question