Unemployment

Paper Summary:

This paper looks at how unemployment has changed over time in terms of causes, makeup, degree of severity and possible solutions. It also discusses how over the last decade unemployment has both been reduced and has also changed its makeup in terms of the kinds of industries experiencing unemployment and the proposals for solving the problem. It examines how the degree of unemployment is affected by domestic policies and international relationships and events alike. It looks at the effect of the North American Fair Trade Agreement (NAFTA) with neighboring Mexico and Canada and how jobs are being created in Mexico instead of the U.S. due to lower salaries.

From the Paper:

"International competition has increased with the economic growth and, in some markets, domination of the Japanese and the Germans. In addition, there have been various efforts to improve the trading position of other regions of the world, notably the development of the European Community as a Europe-without-borders and as a trading bloc with respect to the rest of the world. Such changes remain uncertain at this time--will they work as intended or will they only create more problems for individual countries within the Community? Having recognized the need for a different trading stance, the United States has embarked on another uncertain experiment with the North American Fair Trade Agreement (NAFTA) with neighboring Mexico and Canada. This is in addition to provisions of the General Agreement on Tariffs and Trade (GATT), which Mexico signed in 1986 ("U.S.-Mexico Free Trade Agreement" 34)."

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