Unemployment and Economic Decline Essay

1212 WordsJan 30, 20155 Pages
Unemployment and Economic Decline K. L. Vanhoesen Research and Evaluation 1 RES/341 Jonathan Edelmen Unemployment and economic decline have become poplar phrases in the American vocabulary. Every month, more people are joining the ranks of the unemployed, pushing the United States to a record high of 7.1% in over 14 years. (Willis, Miller. (2008). some change from one form of employment to another without any interruptions or experience a short period of unemployment. Yet others spend weeks and sometimes months searching for employment. This paper intends to take a closer look at the characteristics like the average length of unemployment and numbers by which this economic plague affects workers. For the purpose of this research groups were broken into categories according to age and duration and are listed as follows: Total, 16 years and over, 20 to 24 years of age, 25 to 34 years old, 35 to 44 years of age, 45 to 54 years old, 55 to 64 years of age and finally 65 years old and over. After grouping subjects according to age, they were again broken down in smaller groups by the duration of unemployment. The statistics for this study were obtained from the Bureau of labor Statistics. * Less than 5 weeks: Short term unemployment affected 32.8 Americans. These bouts of unemployment often last less than 5 weeks and affected an average of 398.16 adults. When broken into categories by age, there are 88 people in the 65 years and over group which become the minimum number for this range and a maximum variable of 643 in the 25 to 34 year old category. This provides a median or middle mark of 441 with no apparent mode. For this duration has a negative skewness of – 0.515 and a 95% confidence level of 222.18. The standard deviation was calculated at 211.713 with a standard error of 86.43. Histogram A displays a cumulative percentile of 16.67% and a

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