Outline of Essay

1. Introduction
 The term unemployment refers to a situation where a person
actively searches for employment but is unable to find work.

2. Body 1
 Topic
 Long-term unemployment refers to people who have been
unemployed for 12 months or more.

3. Body 2
 Problem
 Unemployment leads to lower demand, consumption and purchasing
power, leading to lower corporate profits, budget cuts and staff
reductions.
4. Body 3
 Solution
 Better align workforce demand with college instruction.

5. Conclusion
 Unemployment is a serious issue for any economy.
 Essay
Long term Unemployment

Unemployment is a term that refers to people who are employable and actively
looking for work but are unable to find one. This group includes workers who
work but do not have a decent job. The unemployment rate is usually measured
by dividing the number of unemployed people by the total number of employed
people and serves as one indicator of the economic condition of a country. The
term “unemployed” includes people waiting to return to work after being
furloughed, but also includes people who have left their jobs within the last four
weeks for a variety of reasons such as work, higher education, retirement,
disability, trucking. It is not included and is often misunderstood. personal
problem. People who are not actively looking for work but want to work are also
not classified as unemployed.

Long-term unemployment (when a person is without work for more than 12

months) can have serious negative consequences for the individual, society and
its economic system. Long-term unemployed people find it increasingly difficult to
find work over time. Long-term unemployed people are often limited in their
ability to get jobs due to low levels of education, loss of skills, and the substantial
costs required to restore these skills. They also face significantly lower incomes
and limited career prospects. The participation rate of the long-term unemployed
in employment programs is generally very low. The article examines the
importance of long-term unemployment in Croatia and measures to mitigate it. In
general, long-term unemployment is more or less a factor of social exclusion. It is
a multidimensional process that weakens the bonds between individuals and
communities. Characteristics of exclusion relate to access to the labor market,
basic social services, and social safety nets. One of the most important forms of
disadvantage is limited access to the labor market.

The current long-term unemployment crisis affects all types of workers. It is clear
that it is not limited to inflexible workers who recklessly focus their job search on
specific occupations or industries without jobs while ignoring opportunities. in
other places. The long-term unemployment rate is high in all groups,
occupations, industries, and educational levels. Unemployment Demand deficit is
the main element of unemployment that often occurs during recessions. When
companies experience a decrease in demand for their product or service, they
respond by reducing production, which forces them to reduce the workforce
within the organization. In fact, workers are redundant. Unemployment causes
workers to experience financial hardship that affects families, affair and
communities. In that case, consumer spending, one of the main drivers of
economic growth, could decline, leading to recession or collapse. Unemployment
leads to lower demand, consumption and purchasing power, leading to lower
corporate profits, budget cuts and staff reductions. It creates a never-ending
cycle that is difficult to undo without some intervention. workers with higher levels
of education (4-year college degrees or better) face substantially lower long-term
unemployment rates—which is always true, in good times and bad—even these
highly credentialed workers have long-term unemployment rates that are more
than three times as high as before the recession started, just like workers without
4-year degrees. Long-term unemployment is high for all types of workers,
including college graduates, underscoring that the root of today's long-term
unemployment lies in the persistent weakness in aggregate demand, a legacy of
the Great Recession. With aggregate demand (household, business and
government spending) so weak, employers are unable to hire fast enough to
reduce long-term unemployment at an acceptable rate.

The solution to unemployment, of course, is to create new jobs. The number of

jobs created will depend on the unemployment rate and the number of people
entering the labor market looking for work. If the unemployment rate rises above
6% to 7% and stays there, it means the economy cannot create enough new jobs
when the government intervenes. The first solution is expansionary monetary
policy by the Federal Reserve. It's powerful, fast and effective. Low interest rates
make it easier for families to borrow what they need. This includes expensive
items such as cars, homes, and appliances. Stimulate enough demand to get the
economy back on track. Low interest rates also allow businesses to borrow
cheaper. This will give us the financial capital to hire enough workers to meet the
growing demand. Funding education is also an effective solution to
unemployment. When he spends $1 billion on hiring teachers, he adds $1.3
billion to the economy. People with higher education can get higher paying jobs.
They can buy more things with higher wages. 17,687 jobs can be created for
every billion dollars. That's much better than defense spending. businesses have
a role to play too in studying and implementing best practices for employee
transitions. Layoffs and changing skills needs are a reality of business. But
forward-thinking companies have introduced programs to help their employees
transition through layoffs to new roles, new careers and even starting new
businesses. The longer you stay unemployed, the more likely you are to face
social and economic costs. Long-term unemployment is a dark hole to step into.
Let's join hands and help people.

Unemployment is a serious issue for any economy. It creates negative affects to

unemployed as they are jobless and suffer from worse prospects to find new job
and those who are employed feel less secure to keep their jobs in future.
However for overall development of economy, government and individuals has to
take initiative steps in increasing the productivity and improving the standard of
living.
References:
 https://www.thebalancemoney.com/unemployment-solutions-3306211
 https://www.businesscouncilab.com/news/opinion-we-need-new-
solutions-to-solve-the-long-term-unemployment-crisis/
 https://www.epi.org/multimedia/understanding-long-term-
unemployment/