Losses jobs during the recession Essay Example | Topics and Well Written Essays - 500 words

Losses jobs during the recession - Essay ExampleDaily in that location is rapid shedding of jobs. There is a really sharp fall of oil and crop prices. The most affected atomic number 18 the people who do non have a college degree. There is a fall in construction work, retail market in addition to hotel work. Home investors and home owners have suffered coarse losses that can non be compared to the social security checks that renters and retirees depend on (Leonhardt, 2009).El Centro city in California State has been adversely affected by the nifty depression as referred by others. About 22.5 % of its population has suffered from the cruel hand of unemployment. El Centro has not only suffered from the brutality of recession but also from drought. accommodate problem has also joined the two troubles the state has.House helps have not escaped the axe of unemployment. Many employers have opted to take their children who are very young to avoid having baby sitters. Those mothers th at are no longer employed would rather do the house work than employ house maids.All these ontogeny trends due to the recession are resulting to inequality. The great depression crashed the stock market. This affected the wealthy and the middle class families greatly. Additionally, more people lost jobs and more are on the verge of losing top and well-paying jobs. For example, the study by Leonhardt (2009) reveals that the recession affected the Wall Street employees and so a large percentage of them lost their jobs.In a bid reduce inequality, the Obama administration has taken a stem that franklin Roosevelt took during the 90s depression of increasing the taxes of the wealthy. Critics point out that increasing tax on the generative will only benefit one side, the poor. This step had enormous effects. The third key thing is very important because unlike during the great depression, students do not to leave school to work as labourers in different places. They will pursue education that will in turn help in curb the loss of jobs during recess. As mentioned