Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
The recent recession and global credit problems in the United States and Europe have led to many workers being laid off and consequently slowing down economic growth. The level of unemployment in the United States and Europe has continued to push the recession to unprecedented levels. Major causes of continued recession in the US and Europe are attributed to low spending levels occasioned by high unemployment and low spending power (Addison, 2003).
Many companies had to lay off workers due to increased operating costs while at the same time the low demand in the market-leading to low sales affected most companies. Most of the jobs that were lost in the United States and Europe were in the private sector with many jobs being lost in the industrial and agricultural sectors. Some European governments and the United States laid off public workers due to increasing public debt and budget deficits that necessitated jobs cuts as a cost-saving measure (Buti, 2009).
Many of the jobs that were lost in the US and Europe consisted mainly of semi-skilled workers who worked in different industries across these countries. To reverse the unemployment trend in the US and Europe, governments have implemented stimulus packages aimed at rescuing several industries and ultimately saving their economies. However, jobs revival has not picked up because most American and European industries face competition from producers in Asia, cheap goods from China and Asia have flooded European markets hurting local producers. Western organizations should adopt strategies such as outsourcing some of their production to low-cost areas as means of making goods cheaper (Gassler, 2003). These organizations could pressurize their governments to lower taxes and offer incentives for them to remain competitive.
References
Addison, J., & Welfens, P. (2003). Labor markets and social security: issues and policy options in the U.S. and Europe. Boston, MA: Springer.
Buti, M., Sestito, P., & Wijkander, H. (2009) Taxation, welfare, and the crisis of unemployment in Europe. London, UK: Edward Elgar Publishing.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.