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Unemployment and the Prosperity for a Nation As the new Millennium approaches, our Nationˇ¦s ability to prosper depends on our ability to achieve economic expansion. In order to achieve economic expansion though, all resources will have to be used to their full potential. Workers are a vital part of the process and need to reach 100% of their potentials. Unfortunately, unemployment is also part of the equation which leaves a small percentage of the workers who are willing to work, out. That means that the number of people looking for work are not a contributing factor of the social and economic expansion. The percentage of people out of work, out of any given country may vary significantly. In continents such as Europe, they may be in double digit numbers while the US the numbers are at an approximate 5.3% of unemployed personnel. The ideal unemployment rate according to some economist is approximately 5.5%, even though that number can fluctuate to as high as 7% by some analyst. By any guide, the number of unemployed people in this nation reach astounding figures, but according to some analyst the number is vital for growth. The concept of unemployment is viewed in two ways. One, unemployment is a vital part of the economyˇ¦s social well being. The other view is that of the individuals who has been faced or will face unemployment, say that more should be done to get everyone working and not stop at a certain percentage. The people who are unemployed suffer greatly due to this social law. Economist state that this nations economy is dependent upon a conservative working five and a half percent margin that helps develop this nation economically. This paper will explore the views of full employment and unemployment . First of all, if we were to examine full employment, we would clearly see that every single American that would like to work, would be working. Since, working happens to be one of the basic needs in our society, it would indicate a healthy society. Americans stress levels seen during the relatively last few years over job loss would be virtually eradicated. Americans would be able to work in happier atmospheres, since they would not be bound to unfavorable working conditions and would have a better say in the wages that they earn since they would not be bound to their jobs afraid that they would not be able to find another job.
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