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Unemployment In Detroit Essay

2489 words - 10 pages

Unemployment is a condition where one is willing to work but he does not have a job. In the recent years the rate of unemployment has been on the rise in many societies. This rate is very worrying because there are many implications that come with high levels of unemployment in the society. There are a number of factors that are said to be the cause of unemployment in any given economy. The factors that cause unemployment in any given economy can be categorized as economic, social and political factors. Unless the problem of unemployment is adequately addressed in any given economy there are some far negative reaching implications that affect the social, economic and political development of ...view middle of the document...

These factors have fueled the rate of unemployment in Detroit which current stands at the rate which is above 7 percent. This rate of unemployment is worrying as it implies that the economy is not growing at the same rate at which the population is growing among the Detroit residents.
One of the causes of unemployment among the Detroit residents is economic inflation. Inflation is a situation where there is continuous increase in prices of goods and services. Inflation has resulted to the prices of export to be low resulting into low volumes of exports been realized. As a result industries that are concerned with exporting of goods have no option but to lay off some of its employees due to reduced earnings. Inflation rates are very high in the United States economy and these rates affect directly the residents of Detroit. Laying off workers as result of inflation has been on the rise thereby increasing the rate of unemployment among the people of Detroit who depends of the export industry as their source of livelihood.
Another major cause of unemployment in Detroit is the economic recession that has been experienced in the American economy in the recent years as well as in other parts of the world. The economic recession lead to financial crises in the economy whereby many industries were closed down as a result of financial distresses that come as a result of economic recession. Economic recession also saw the United States of America economy comes to a stagnant resulting to loss of jobs and failure of the economy to generate new employment opportunities for the growing population. Given the economic situation in the economy the rate of unemployment has been on the rise as many of the college graduates cannot secure jobs as the economy is not growing at a rate that it can generate equal employment opportunities as the number of graduates entering the job market. Detroit residents who are parts of the larger United State were therefore, affected by the economic recession that was experienced in the economy thereby resulting to most of them losing employment opportunities. Statistics from the state labor office indicate that during the economic recession period millions of jobs were lost across the American economy.
Relocation of production plants by most of the firms in United State has been largely blamed for the rise in unemployment levels in the recent past. Due to high cost of production associated with the American economy most of the American companies have opted to outsource their production activities in economies where cost of production is low. As a result millions of Americans are losing jobs opportunities each and every day due to relocation of production plants. Detroit residents who depend on these firms for employment opportunities are not left behind by the negative implications that arise from relocation of American firms to economies such as China where the cost of production is low. Recent statistics indicates that many...

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