High Unemployment in the US
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High Unemployment in the US
Since there is high unemployment in the US and so many college graduates cannot get jobs, it is only fair to consider instituting a broad mandatory retirement age again in most workplaces. Agree or disagree? Explain your answer
I disagree because the number of job opportunities is very few to accommodate college graduates after completing their studies. Those who are unemployed do not have enough skills to fit in the jobs that are available because the skills have deteriorated or inadequate and others are not able to locate where the jobs that they can do well are. The invention and renovation in the production process eliminate the need for many workers due to the use of machines that have reduced the need for human labor. When this happens many employees are forced to look for new jobs which they are not qualified and eventually remain jobless (Altig, 2010).
Many firms have jobs but getting employees who are appropriate to provide quality work is a challenge. The mismatch of skills makes it difficult for employees who are ready to work to find appropriate jobs. In the United States, commercial offices have very few vacancies due to loss of financial wealth making the jobs available to be very few (Bernstein, Mishel & Shierholz, 2009). The number of jobs available has been very few to accommodate college graduates who are looking for employment. Even if those who are unemployed fill all the available job opportunities, there would be many workers who would remain unemployed which implies that the job opportunities are very few. The demand for employees who are highly educated is rising and this demands their salaries to be high resulting in earnings inequality. When college graduates are employed with a shortage of skills there is a need for more training programs for their levels of skills to be boosted through retraining them. Many employers would prefer to employ those people with advanced degrees because their experience and output are high (Acemoglu, 2010).