Unemployment

Between 1950 and 1960, the unemployment rate averaged 4.5 percent, with a range between three and seven percent. Between 1960 and 1970, the average was 4.8 percent, with a range from five to eight-and-a-half percent. From 1970 to 1980, the average rose to 6.3 percent, and the range was from five to eight-and-a-half percent. Between 1980 and 1990, the average rate was a little over even percent, with a range from five to about ten percent. As of December 1994, the unemployment rate stood at 5.6 percent.

In general, statistics show certain trends in unemployment rates in the U.S. The rate of unemployment among 16 to 20-year-olds has steadily increased in recent years. The rate is highest for black teenagers, making them the hardest segment of the work force to employ. The rate of unemployment among white males between 25 and 35 has grown relative to that of older white males. The rate of unemployment among blue collar workers has increased relative to that of white collar workers. Unemployment among workers without a high-school e

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arket. Since the 1970s the number of women entering the work force has increased fifty percent. Many of these women have taken part-time jobs or jobs at lower wages than those of men, forcing men out of the market. Thus the rise in women employees has been met with a decline in the rate of white males in the work force. Since 1970, this rate has fallen from 86 to 79 percent, with the rate of decline among older males being even greater. Additionally, the rate of non-white males in the work force has declined, from 85 percent in 1970 to 71 percent by 1990. Unemployment has also been driven by a decline in the manufacturing sector, the traditional blue collar jobs. In the 1970s, about thirty-five percent of non-agricultural jobs were organized by unions. As the shift to a service-oriented economy and increased use of technology eliminated blue collar jobs, this rate dropped to under twenty-five percent. Thus, changes in the nature of the work force account for much of recent unemployment. Perhaps the most controversial aspect of unemployment is its relationship to wages and wage inflation. Economists traditionally argued that there was a constant relationship between the rate of growth in wages and the rat
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Approximate Word count = 1513
Approximate Pages = 6 (250 words per page)

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