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Abdul Meelar Cindy Rogers English 12 October 23, 2012 Assignment 8 Research Paper The last couple of years for Americans has been quite hard, with our employment rate dropping to a whopping 10.0 in 2009. After President Obama was elected 2009, that rate began to decrease little by little and it has come to the current position of 7.3. Many are theorizing that the drop in employment is due to the burst of the housing bubble., where people kept taking money loans to buy houses, but soon they couldnt pay back the loans. The houses that they bought had to keep getting foreclosed because they couldnt afford to pay back the bank loans and the houses. The after affect of that was many people who were bankrupt, homeless and most importantly, unemployed. Unemployment, in itself means to be a person(s) in the working class, not holding a job or way of income, regardless of age or ethnicity. This is not the first time America has experience a mass unemployment rate. The last time we experienced such a thing was during the 1920s, the Great Depression. The unemployment rate at that time rose to a whopping 25%, meaning nearly one in four Americans was out of a job. Luckily however, the employment rate has risen exponentially, even though the population has also grown bigger since then. During the 2009 elections and the 2010 elections, nominees Barack Obama, John McCain, and Mitt Romney, respectively used the unemployment situation as a tool to gain voters . The top three states in the US in unemployment is Nevada, Rhode Island and Michigan, with Nevada being the first with a massive 9.3 unemployment rate. California is also not that far

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behind with a 8.7 unemployment rate . The PEW Research Center performed a study, which showed that unemployment rate for those ranging from ages eighteen through twenty-four was at nearly sixty-six percent. Many of the coastal states have shown to have a higher overall salary average, as well as higher debt average. The prosperity of this country is being held up by our high unemployment rates, massive debt and unwise politicians sitting in congress. Though President Obama has indeed got the unemployment rate below eight percent, there are still many who are without jobs and houses, walking the streets for what little they can find. Many companies are trying their hardest to make jobs for people, for example movie directors hire out of job carpenters and construction majors to build sets and etcetera . If we pull ourselves out of this downward spiral, America can truly prosper and be the great nation it is meant to be. Bibliography "Databases, Tables & Calculators by Subject." Bureau of Labor Statistics Data. N.p., n.d. Web. 23 Oct. 2012. <http://data.bls.gov/timeseries/LNS14000000>. "Get Used to 7.8% Unemployment: Why This Rate Won't Fall Anytime Soon." The Atlantic. N.p., n.d. Web. 23 Oct. 2012. <http://www.theatlantic.com/business/archive/2012/10/get-usedto-78-unemployment-why-this-rate-wont-fall-anytime-soon/263395/>. "Unemployment Rates for States." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 23 Oct. 2012. <http://www.bls.gov/web/laus/laumstrk.htm>. "Google Public Data Explorer." Google Public Data Explorer. N.p., n.d. Web. 23 Oct. 2012. <http://www.google.com/publicdata>.

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Eichler, Alexander. "Employment Rate For Young Adults Lowest In 60 Years, Study Says." The Huffington Post. TheHuffingtonPost.com, 09 Feb. 2012. Web. 23 Oct. 2012. <http://www.huffingtonpost.com/2012/02/09/employment-rate-young-adults_n_1264241.html>. Eichler, Alexander. "Employment Rate For Young Adults Lowest In 60 Years, Study Says." The Huffington Post. TheHuffingtonPost.com, 09 Feb. 2012. Web. 23 Oct. 2012. <http://www.huffingtonpost.com/2012/02/09/employment-rate-young-adults_n_1264241.html>. "Subscriber Login:." Kiplinger Personal Finance. N.p., 24 Oct. 2012. Web. 24 Oct. 2012. <http://www.kiplinger.com/infographics/student_debt_vs_average_income/>. "SmartMoney." 5 Jobs With the Most Layoffs. N.p., n.d. Web. 24 Oct. 2012. <http://blogs.smartmoney.com/advice/2012/06/07/the-5-sectors-laying-off-the-most-workers/>. "10 Jobs: Big Demand, Good Pay | 1 | CNNMoney.com." CNNMoney. Cable News Network, n.d. Web. 24 Oct. 2012. <http://money.cnn.com/galleries/2007/news/0702/gallery.jobs_in_demand/index.html>. "The American Spectator." The Spectacle Blog. N.p., n.d. Web. 24 Oct. 2012. <http://spectator.org/blog/2011/06/09/when-did-this-recession-begin>. Mamundi, Sam. "Lehman Folds with Record $613 Billion Debt." Marketwatch.com. N.p., 15 Sept. 2008. Web. 24 Oct. 2012. <http://www.marketwatch.com/story/lehman-folds-with-record613-billion-debt?siteid=rss>. "The 15 Best Explanations for the Great Recession." Slate Magazine. N.p., n.d. Web. 24 Oct. 2012. <http://www.slate.com/articles/news_and_politics/the_big_idea/2010/01/what_caused_the_econ omic_crisis.html>.

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Gongloff, Mark. "U.S. Will Enter Recession If 'Fiscal Cliff' Not Avoided: CBO." The Huffington Post. TheHuffingtonPost.com, 22 Aug. 2012. Web. 24 Oct. 2012. <http://www.huffingtonpost.com/2012/08/22/cbo-recession-fiscal-cliff_n_1821667.html>. "Dear American Companies: Here's How to Fix the Economy." DailyFinance.com. N.p., n.d. Web. 24 Oct. 2012. <http://www.dailyfinance.com/2012/08/30/dear-american-companies-hereshow-to-fix-the-economy/>. "Apple - Press Info - Apple Reports First Quarter Results." Apple - Press Info - Apple Reports First Quarter Results. N.p., n.d. Web. 24 Oct. 2012. <http://www.apple.com/pr/library/2011/01/18Apple-Reports-First-Quarter-Results.html>. "Kindle Screen Maker Will Increase Capacity to Meet Demand." Computerworld. N.p., n.d. Web. 24 Oct. 2012. <http://www.computerworld.com/s/article/9179759/Kindle_screen_maker_will_increase_capacit y_to_meet_demand>. Yam, Marcus. "Sony Sources Foxconn to Help Manufacture PS3." Dailytech.com. N.p., 17 Sept. 2007. Web. 24 Oct. 2012. <http://www.dailytech.com/Sony+Sources+Foxconn+to+Help+Manufacture+PS3/article8894.ht m>. Kain, Erik. "Chinese Foxconn Workers Threaten Mass Suicide Over Xbox Pay Dispute." Forbes. Forbes Magazine, 12 Jan. 2012. Web. 24 Oct. 2012. <http://www.forbes.com/sites/erikkain/2012/01/12/chinese-foxconn-workers-threaten-masssuicide-over-xbox-pay-dispute/>. Reuters, Thomson. Apple and Samsung Earnings Graphic of the Day. Digital image. Www.blog.thomsonreuters.com. N.p., 26 Oct. 2012. Web.

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