economics

Economy

Unemployment , recession , and depression , are all common terms in the subject of economy . They are as well , at times , interrelated and one may have caused the other . However , it is not necessarily so all the time Unemployment is measured by the Bureau of Labor Statistics . The BLS does the measurement by surveying individual homes and numbering the unemployed contrasting them against the percentage of employed population . The Bureau also reports on those who have no interest for work - these are discouraged workers who have abandoned already the idea of looking

for work . So , these are people who are not working Nevertheless , they aren 't counted among those unemployed , and thus counted separately . If the number of this kind of discouraged unemployed people is on an increase , there is a possibility of looming recession (Amadeo , 2008 . On the other hand , recession is happening when Gross Domestic Products is not growing or has been dropping for two consecutive quarters in a year . It only means that there is a steady loss of jobs as a result because companies and different producers are slowing down in terms of their produce . Of course , with this scenario in sight , unemployment becomes steady . Although economic depression is defined technically different by economists , it is real and can be felt today . Mike Whitney (contributor to Global Research , in his article said that anybody can look around and see the signs of depression . In better times ' the American population occasionally opted for canned foods , but not anymore today . Because people are looking for better and cheaper ways to feed their families , more and more are deciding on processed food . The price of every food item in groceries is rising (Whitney , 2008 . And so , every unemployed person is technically , and in effect , depressed . No need to wait for more signs . It is here for every unemployed person

Reference

1 .Amadeo , Jessica . Accessed June 24 , 2008 . http /economics .about .com

2 . Whitney , Mike . Accessed June 24 , 2008 . http /www .globalresearch .ca...