#sabraj

An article from England, but I think this applies to the US as well.

Unemployment is a greater cause of debt problems for those aged under 25 than any other age group, an advice charity has warned.

"It reflects the acutely vulnerable economic position that many young people now find themselves in and is likely to overshadow the lives of a significant proportion of young people for many years to come."

Thorns: Young people usually have less financial reserves, so it far harder for them to live while unemployed, putting them at far higher risk of massively going into debt.

Younger people are also harder to employ because they have less experience than someone ten years older.

Also, if someone is unemployed at a younger age, they are far more susceptible to problems, both financial and otherwise, later in life.

Despite having one of the nation’s highest jobless rates, North Carolina’s government took steps to enact some of most severe benefit cuts in the country. The measure would shrink the maximum period of time someone could receive state jobless benefits to 20 weeks from 26 weeks and reduce the maximum weekly benefit to $350 from $535. The state Senate gave preliminary approval to the proposal on Tuesday, and Gov. Pat McCrory (R) has promised to sign it into law, which would take effect July 1.

Thorns: Obviously, many people need the help, but unfortunately, as unemployment persists, it begins to have an impact on taxpayers. There exists a moral issue for if greater society is responsible and if tax money, and how much, should be given to unemployed people.

This article shows how many small towns are dependent on the large industry, and have to compete tirelessly for factories to be in their towns. With both falling unemployment and a falling population, the county really needed the jobs.

Thorns: For every county that gets a factory, there are a few who don't. Also, these factories may be harmful to the environment near the towns, but due to the unemployment situation, some of these concerns may be ignored.

Unemployment in an international problem

The euro-area economy will shrink in back-to-back years for the first time, driving unemployment higher as governments, consumers and companies curb spending, the European Commission said.

The 17-nation euro zone’s gross domestic product will fall 0.3 percent this year, compared with a November prediction of 0.1 percent growth, the Brussels-based commission forecast today. Unemployment will climb to 12.2 percent, up from the previous estimate of 11.8 percent and 11.4 percent last year.

Thorns: Europe has had an even harder time recovering the crisis than the United States. Some analysts are even afraid that unemployment will become "entrenched", meaning that many people could give up hope and stop looking for work.

The number of Americans seeking unemployment benefits jumped 20,000 last week to a seasonally adjusted 362,000.

Applications are a proxy for layoffs. They have trended downward recently. The four-week average has declined 7.5% since mid-November and fell to a five-year low three weeks ago.

Still, the increase puts applications back in the 360,000-to-390,000 range, where they have fluctuated since early last year.

Thorns: Unemployment is not improving as fast as many would like it to. I would assume that many of the unemployed do not have education and have been unemployed for months, meaning that there will have to be a quite significant improvement in the economy before this demographic is hired on a large scale.

Main Ideas: Are people becoming dependent on unemployment benefits? Does it matter if it saves them the misery of extreme poverty?

People who stay employed have trouble finding work as time goes on.

Thorns: Though it is a difficult questions to ask. If there is dependance, steps should be taken to eliminate it without harming the people who need the benefits.

There is no solution for people whose long-time unemployment concerns employers.

Main ideas: The number of people seeking unemployment benefits fell by 27,000 last week, an indication that hiring could improve.

Still, unemployment remains high. The unemployment rate ticked up to 7.9 percent in January from 7.8 percent in December. Economists expect the rate will decline if hiring continues at last year’s monthly pace of 180,000. The rate fell 0.7 percentage points in 2012.

Thorns: Though unemployment applications have decreased, there are still many people unemployed, some who have run out of benefits.

Main Ideas: Legislation was approved in early January extending federal unemployment benefits that would have expired without action from Congress.

The legislation will extend the federal Emergency Unemployment Compensation (EUC) program through 2013.  This means that unemployment compensation will continue for unemployed workers who are currently collecting federal jobless benefits. Unemployed workers who run out of state benefits during 2013 will now be eligible for benefit extensions, as well.

Thorns: Though it is good that people are getting help, when people are unemployed they are receiving taxpayer money instead of paying taxes.