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Word Count: 504
I found the article while reading the business section of CNNcom last week Its subtitled Historically speaking unemployment could be a lot worse but it should be an awful lot better The Author Mark Gongloff makes a quick point to inform the reader that the unemployment rate is at its highest level since July 1994 but its nowhere near the highs it hit in the early 1980s and 1990s But these are different times and the standards for unemployment is different too he goes on to say At 61 percent unemployment is at a nine-year high 10 years ago a 6 percent unemployment rate was considered to be full employment reflecting a growing economy without fueling inflation This level should be lower today somewhere around the 52 percent mark this is also stated on pg 143 of the text The author attributes this change to structural unemployment-development of new technologies in the 90s and the cut of others The labor force has also grown to the point where 61 percent now represents 9 million unemployed as opposed to 79 million 10 years ago With an older work force more skills and better job retention is also expected Baby boomers have grown to be middle aged Americans this is also discussed on pg 143 of the text There are 47 million discouraged workers people who are able to work but are not actively looking for a job who if started looking for a job would rejoin the labor force and inflate the unemployment rate to 91 percent A 35 percent growth per year would be the ideal rate for a year or more to see the levels dip below 5 percent again This would cause the unemployment rate to rise before falling since the creation of the new jobs would be an incentive for the discouraged workers to rejoin the labor force However Mr Gongloff suggests that for some 5 percent unemployment is still too high
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