Poverty On the Economy

http://www.usatoday.com/money/economy/employment/2010-11-08-discouragedworkers08_ST_N.htm

One of the major problems in America today is the job market. The unemployment rate is currently at a high point of 9.7 percent. People are starting to give up on their search for jobs and waiting for the market to recover itself. This is only worsening the problem. The natural unemployment rate is between 4 and 5 percent. That is basically stating that the country is operating to its fullest potential.

There is a rapid growth of jobs in United States and a surprisingly low number of people taking advantage of this. With the unemployment rate becoming so high you would think that the general public would be taking advantage of these new employment opportunities. Not only does this make the unemployment rate of our country go up but it also disables the United States from operating at its full potential. When there are industries that have open jobs, if these jobs are not taken then some of their potential output is going to waste because the company is not doing a sufficient job at acquiring workers for each position. It is all about utilizing the labor you have and perfectly combining it with technology to determine the best and most productive outcome.

People who are waiting to leap back into the job market after the market fixes itself is not a wise decision for the country as a whole. There are jobs that need to be taken to produce the maximum amount possible. If this could happen then this would trickle down into lower pricing for all types of goods and services. When you make the best out of the product you are producing then you can sell it for less as well as produce it for less. When the country is operating at its maximum potential or at least closer to that, then everyone will be better off.

The future does look promising for the up and coming generation of workers. It is expected that the baby boomers will indeed retire soon and get out of the labor force and make room for the up and coming workers. This could potentially close the unemployment gap and get the country on a track towards the natural unemployment rate which would in turn create a change in our current economic situation. This would also decrease prices to most goods because they would be being produced for cheaper with an adequate labor force.