Economics Assignment Example | Topics and Well Written Essays - 500 words - 1

Economics - Assignment Example (Anderson and Cavangh, 2004)Â   The unemployment rate accelerated from 9.7 percent to 9.8 per cent in September 2009. The US economy had lost 7.2m jobs since the beginning of the crisis in 2007 and about 15.1 million people were looking for jobs. The worst hit was the construction sector, which witnessed as many as 64,000 job losses. The manufacturing and the retail sectors were no exceptions where the employer cut down were 51,000 and 39,000 respectively. In this scenario of joblessness, where the growth in the unemployment rate was showing a northward trend I had to come up with a policy to address the issue on a more serious note. There is no doubt about the fact that outsourcing enhances globalization and opens trade which has been proved to be beneficial for both the parties engaged in it but at the same time it reduces the number of jobs available to the domestic workers. So a policy implication has to be made to stop outsourcing of jobs.(Anderson and cavangh , 2004) To overco me the unemployment issue in the country I have come up policies, which would stop outsourcing of work.