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03.02 Public Policy
Transcript of 03.02 Public Policy
By: Tatum Gonzales
Public Policy Idea:
The public policy idea that I will be explaining is unemployment. In the last few years, the unemployment rate has dropped. Even today, the unemployment rate is at a average of 5.3%. The unemployment rate is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. People who are unemployed can fill out paper work to see if they can receive special help from the state. Some get approved and others don't, it just depends.
Costs and Benefits:
Costs: The costs for unemployment is that more and more companies will be losing money. This will happen because there is more money that they will be putting out. For example, if a company has 15 work trucks and there are 67 workers, then the company will have to buy more work trucks so that means more gas cost and insurance, etc. Another cost is that more people will not have jobs to support themselves and their family.
Benefits: The benefits for unemployment is that all business will have more money to spend rather than spending it all on supplies and workers. They will also be able to expand their business. Another benefit is that their will be more employed people able to support themselves and their families.
My opinion is that it's better if the unemployment rate is lower because that way their is more people that get paid and they are able to provide for themselves and their family. Without a job, it is hard to get money to pay for certain things like bills, a house, college or even food. I would rather have families not need help from the state because they can't find a job.