http://www.bbc.co.uk/news/business-24547749
The article summarizes the fact that the number of people unemployed in the UK dropped by 18,000. The number of people claiming JobSeeker's Allowance (an unemployment benefit program in the UK) has also dropped by almost 42,000 people. Also, the number of people in work was at an all-time high. These numbers represent a positive jump in the unemployment problems, at least for the UK economy.
The article also reports that the standard of living has been improving and is predicted to continue increasing over the next few months to a year. As for why these numbers have been improving so much.. it cannot be due to any singular reason. Generally when trends like this occur, many economic aspects are working hand in hand to shift the economy one way or the other. Contrary to when the economy takes a significant negative hit where sometimes a singular reason can cause the economy to deteriorate rapidly. Reasons for this upward rise could be due to programs or principles instilled by the government; for example, stricter requirements to receive government assistance, economic growth, and creating incentive to work all are factors that could cause unemployment rates to go down and for the number of people claiming JobSeeker Allowance to also go down. Once people have an incentive to work for something, (or in some cases an incentive to want to stop collecting assistance from the government), then their efforts will tend to be greater, and in turn, the opportunity for positive economic trends like this is also greater.
U.S. should try to do something like the U.K. Unemployment plays big part on the money we spend for food stamps and such. If Unemployment decreases, the amount of money given out for food stamps will decrease. There will be more work forces which will increase the number of productions.
ReplyDeleteI don't think it would be a bad idea to take a look at what Britain is doing because we need to lower these rates ourselves. I think that our percentages would drop if people were willing to take less than desirable jobs instead of going on welfare. In the past going on welfare was a huge disgrace and someone would work 3 jobs instead of taking the check from the government but today its the other way around.
ReplyDeleteThe U.S. should hop on the decreasing unemployment train like the U.K. Like Thao said, if unemployment decreases, that would be less money the government spends on food stanps.
ReplyDeleteI believe that the United States could learn a lot from this trend in the United Kingdom. Although there was no main factor that caused this change, the United States could at least duplicate some of their more successful policies in order to potentially achieve similar results.
ReplyDeleteThe US needs to really look into what they are doing. Even if there is only a small thing that is creating this change its working, we need to look into this and take some notes.
ReplyDeleteI believe that more strict requirements for government aid is a good idea, as well as creating a better incentive for working. I think that the U.S. could look at what the UK has done and possibly apply similar aspects to our system.
ReplyDeleteToday people would rather take a check from our government instead of earning a living with hard work. I am not bashing anybody on welfare. I am simply saying that there are jobs that people do not want that are open. If you really want to work, you can find a job. It just depends if you are willing to work a crappy job so you can say you make your own money. Personally I would never want to tell someone that I am relying on the government to provide for my family, but I apparently am not the same as many Americans.
ReplyDeleteI obviously agree with what most people are saying. Why isn't the US smart enough to put these ideas into play. What would really help our economy, in my opinion, would definitely be stricter unemployment programs, as you stated the UK was doing.
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