Document Type

Book Chapter

Publication Date

4-25-2025

Keywords

community impact, economic climate, employment, financial hardship, unemployment

Disciplines

Developmental Psychology

Abstract

Unemployment is a difficulty that millions of Americans face on a yearly basis. Unemployment is a multifaceted concern that impacts the individual, including their financial security, their family, and the larger community systems. The Bureau of Labor Statistics (BLS) reported the unemployment rate at 4.1% in 2017, which is the lowest unemployment rate since 2000. Based on the BLS’s 2016 statistics, African Americans suffer with the highest unemployment rates, followed by Hispanics, Whites, and lastly, Asians. However, statistics only tell part of the story. According to the BLS, unemployment is classified as “people who are jobless, are actively seeking work within the last four weeks, and are currently available to take a job” (BLS, 2015). What about the individuals who have given up, those who are currently unable to take a job, or those who are not captured by the BLS research? These individuals are not included in the reported statistics, making the true unemployment rate is unknown.

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