2016 Unemployment Impact to Detroit
With a population of around 680,000, Detroit has 258,000 jobs. Previously, this city lacks education and as a result of this, the rate of unemployment was high. But with due course of time, there is a sudden development in the city of Detroit as well as the education system and a large number of people started earning their livelihood and soon the rate of unemployment deteriorated.
Detroit still lags behind a large number of cities in comparison to the number of jobs available and the number of people residing there(according to a study by JP Morgan Chase and the Ann Arbor based Corporation). According to the study, it has been found out that,
· 53 % of the people of the age between 16- 64 residing in Detroit are employed. Due to lack of proper training around 168000 people are not in labor force.
· Around two thirds of the people opt for jobs outside Detroit. And 75% of jobs are being carried out by the people outside of Detroit.
To eradicate unemployment from Detroit, certain steps as well as efforts are being taken by the government.
Similarly, in December,2015 no doubt Michigan added 10,000 more jobs, but still the unemployment rate does not changed rather it remains the same. But in 2016,the unemployment rate got reduced to 12.4% which is a bit less than the reduction in the unemployment rate in the entire nation i.e. 13.7%.In this year, the total number of employment does not change, but it’s the unemployed that got declined by 32,000.
Likewise, since 1930, United States was running through the worst economic crisis, but in this year i.e. 2016, the unemployment rate has declined and has reached below 5% for the first time in the United States. The number of unemployed persons in 2016 are 7.8 million. In fact the unemployment rate in the month of July, 2016 is same as in the month of June but there are certain changes.
Among the worker groups, the unemployment rate has changed 4.6% for adult men, 4.3% for adult women, 15.6% for teenagers, 4.3% for whites, 8.4% for blacks, 3.8% for Asians and 5.4% for Hispanics. The total number of people those who are not employed for less than five weeks are decreased by 258,000.