Why is unemployment a serious problem that merits priority attention?

Answer 1

Seriously unemployment is a social problem which affects economy in worst way and reduces the growth of economy in downward direction. It means that lots of guys are jobless because of the less job opportunities. This type situation can give rise of other social evils like Poverty, Illiteracy etc. because people don't have money to make expense because of the unemployment. It also affects the image of the entire country in global way.

Answer 2

Because there are too many illegal aliens here doing what americans could be doing ,there are too many jobs outsourced to other countries and most jobs available pay almost if not more than what some people get for working when you have to pay so much for gas to get there,and last but not least - the housing market-to build a house you employ cement workers,carpenters,electricians,ac/heat techs,plumbers and septic workers,painters,carpet and tile,wood flooring experts,drywall installers,cabinet makers/installers and landscapers followed by the owner who buys the house spending money buying furniture and appliances not to mention decorating.No jobs=not buying houses=not building houses=no jobs.Government should have not bailed out banks that gave loans to people who they knew didn't have the income to pay it back.Loans should be based on work/job history and income vs debt and not on a good credit score.Im 44 and growing up besides our house(s) he never bought anything he didn't have the cash on hand to buy.If he wanted a new car he saved up to get one and in the long run spent less money and he only had an 8th grade education but he knew saving for it would save a couple thousand dollars.

Answer 3

Before we address the significance of unemployment, let us first under humanity. Society, civilization, and humanity are all surrounded around people. Furthermore, the economy is surrounded around people. Without people, there is no economy. Think about it: if less people are part of the economy (working for pay and spending that pay) then more businesses are losing customers and not making money. A healthy economy is one that can sustain jobs (meaning businesses are making money and can hire more people).

Lets address another side of your question: the current unemployment problem. Right now we have an unemployment rate of what 7.something%. Why do we have this problem. The answer is the recession. This recession's trigger is traced back to unsecured mortgages, the housing bubble. A lot of people bought homes they could afford and banks lent money they knew they might not be payed back. Home prices rose, mortgages got more expensive, banks lent more money, and then when mortgage payments came around the corner, no one could pay. The banks lost that money, people lost their homes to the banks, and the banks were left with homes no one wanted. I remember the constant foreclosures that would be posted on the news during that period. It was scary. This entire thing affected jobs, businesses, and the economy.