Лекция: UNEMPLOYMENT

The rate of unemployment refers to the percentage of people who want to work but cannot find job. Because there are always people between jobs, the unemployment rate is never zero.

Traditionally, unemployment hits some groups harder than others – minorities more than whites, females more than males, teenagers more than adults. Unemployment is also particularly hard on order workers who have spent their lives in heavy manufacturing, such as the automobile and steel industries. When American companies build new factories in developing countries, where workers are paid lower salaries and factories in the United States close because there is less demand for their products, many workers lose their jobs.

Unemployment also affects the government. When more people are out of work and not paying taxes, the government takes in less revenue. At the same time it pays out more in unemployment compensation.

In times of high unemployment, the government uses different policies to create new jobs. For example, during the 1930s Roosevelt administration hired millions of Americans to do public works projects, such as planting forests, stringing electric lines in rural areas, and constructing public buildings, bridges and dams. The government can also lower taxes and interest rates to encourage businesses to expand and hire more workers.