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The Economy And Unemployment Essay

698 words - 3 pages

The Economy and UnemploymentA well-known fact is that the economy is at one of the worst points in history. If people sit down to think of how the drop of the economy has affected them, they will come up with at least one common answer; unemployment. Everyone knows someone who has been laid off, most likely it was a family member, a friend or even themselves. Due to the fall of the economy, some companies have had to close some of their stores and that leads to an increase on unemployment levels. A given fact would be that when the economy falls people get laid off regardless of one's professional knowledge and or background.With unemployment rising by 2.5% just in this year, every person has been affected by unemployment; even I. Unemployment does not discriminate, it does not care if an individual is about to lose his or her house or if one needs money to get medicine for a sick family member or themselves. Unemployment does not care if people have nothing to eat or if an individual owes money to someone, especially if he or she owes money to a bank for a credit card. Getting laid-off is not the worst thing in the world, especially with the way the economy is, that does not mean that an individual has won the lottery. My mother was laid off about four months ago; luckily, she will be retiring in October of this year. I have been laid-off twice in the last three years and I can assure that it is not a good thing. When there is only one employment offer being made to one person, it would be wise to take the offer even if the job requires a commute and the pay rate is less than the average rate that one is accustom to getting. In this current economy, jobs are scarce and people have resorted to getting jobs that pay less then what they are use to making, just because those types of rates and jobs are the only ones available.Due to the recession, some well-known companies that have been in business for years have either have to merge or close some if not most of their stores in-order to compensate for the decrease and or loss of income. What has...

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