Unemployment and the Job Search Discussion and Responses

Description

In your main post, discuss 1 most interesting OR surprising thing (concept, idea, example, formula, graph, etc.) that you have learnt about the unemployment and the job search process AND explain why.  

Supplement your post either with examples, or your own experience, or use other methods to relate it to the real-world applications. 
Response:
Read the responses of your classmates; respond to one of your classmates’ main posts. 

In your response, be sure to add to the discussion by: 
providing additional examples

asking questions
expressing agreement or disagreement 

Important Reminders: 

Your main post must be 200-250 words in length, not inclusive of any salutations
Your response post must be 100-150 words in length, not inclusive of salutations.
Be polite and respectful of the ideas of your classmates even if you do not fully agree with them. 

Use the formal  English language; follow the netiquette rules from the syllabus; and  include citations for all external resources you are using.
Avoid repeating the ideas of your classmates; your post and response should be unique and add value to the discussion topic. 

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I thought the most interesting thing that we learned about this week was Unemployment
Insurance at its effect of whether or not it causes unemployment to be higher than it actually is.
While unemployment insurance is usually only paid up to 26 weeks, due to external factors,
such as recessions or periods of economic downturn in general, they are often extended to
meet the needs of citizens at the time. The question that is often brought up is, “do
unemployment benefits actually increase the unemployment rate?” It’s an interesting thought.
As stated by Ioana Marinescu from the University of Pennsylvania, “Unemployment Insurance
typically replaces less than 100 percent of the income workers lose” (Marinescu, 2020). She
goes on to say how usually, additional unemployment benefits or extended unemployment
benefits do often cause a rise in unemployment. However, Marinescu also reminds us that the
availability of childcare or the concern for health hampers the return to work as well. One can
also not blame the average worker for not returning to work either. Michigan Minimum Wage
is currently $9.65 an hour. At that rate working fulltime (40 hours), one would make $386 per
week before tax. At the height of the pandemic, one could claim $760 per week and sometimes
more if they verified their wages. It made a lot less sense for minimum wage workers to
continue to work and not collect benefits. Another indication that UI Benefits can heavily affect
the unemployment rate.
Marinescu, I. (2020, August 11). Have enhanced unemployment benefits discouraged work?
Econofact. Retrieved April 22, 2022, from https://econofact.org/have-enhancedunemployment-benefits-discouraged-work

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Explanation & Answer:
300 Words

Tags:
Unemployment Rate

Great Recession

pandemic

hospitality

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