Introduction
Since last year, the world has been going through an economic recession and this has led to a financial crisis around the globe. This has also led to many companies collapsing and hence it has had a direct impact on the workers. This is because many workers have had to be jobless after their employing companies went under during the financial crisis and many more had to be axed out of their current employments when the companies opted for the strategy of lying off some people (Chuck).
One of the most affected countries by the economic situation around the globe is the United States. The workers in the United States have not been spared either by the impacts of the global financial crisis as well as the economic downturn around the world. This has ensured that many workers have been suffering since the time the corporations started going under. This would not have come at a worse time as when the country’s major corporations had started out sourcing their vacancies and the issue of increased immigrants who are also firing up for the jobs. This has led to the American Workers having a lot of problems dealing with the harsh economic times (Gregory).
Economic recession impact on United States Workers
An economic recession has one major impact and that it lowers the employment levels of any country. This is because many companies and corporations have very many financial obligations and hence cannot afford to hire more people than they have currently employed. This has led to people facing difficulties in finding jobs. One of the biggest impacts is when the companies start laying off people because they cannot meet the expenses of hiring so many people. This have led to a situation in which many people have been rendered unemployed after they have been laid off in an effort to stabilize the company or corporation they had been working for. Many other people are losing their employment because their employing companies and corporation have gone under and this sees to it that a very few percentage of the workers get their employment benefits. This has led to the United States workers facing unemployment levels that they have never witnessed in so many years (Liam).
Another impact is the living condition of the workers. The living conditions of the workers are deteriorating because they cannot afford some of the things they have been able to use for some time. This is because the economy is so bad that they cannot access such things as credit. This can be rooted to the fact that many financial institutions are facing credit crunch. The economy depends on the people being able to purchase things that they buy and this creates more employment. However, with the current situations, many companies are not able to retain their workforce hence they are laying off their employees. This in turn affects the peoples’ ability to purchase and hence the deteriorating situation. Many people cannot afford such things as motor vehicles for their families and this then affects the motor vehicle industry. The employees in the industry are then forced to resign as the industry cannot cater for their current workforce (Ron, 102).
Another impact is the low wages. With the companies being unable to pay their workforce the expected salaries, the employees are then forced to take live a life that is off lesser standards than they have been used. Many companies cannot afford the standard pay of the American workers. This is made worse by the fact that the companies are getting cheap labor from desperate immigrants and also major companies are outsourcing their labor from abroad. These have left the United States workers in a very desperate situation and are calling for the government to workout their problem before it gets out of hand. Many workers of the United States of America are barely surviving and this has been felt highly by the non-white residents of the country (Henry).
Economic recession also means that the prices of the commodities are also shooting up. This can never be at the bad time than when the employment opportunity is dwindling and the salaries are deteriorating at an alarming rate. The American worker faced with these challenges can only be salvaged by the fact that the worker gets a good job that is well paying. However, these are not forthcoming so the workers are now facing difficulties in living their normal lives. These have also led to some of the workers ending up surviving on their savings which were meant for use in the future. This is really keeping the workers at a very precarious situation economically and this is evident in the present and the future repercussions are something to be wary of. This has left the workers in a situation that they cannot fully cater for their personal needs not mentioning the social obligations that are involved such as family expenses and social expenses (Gideon).
The workers are also suffering because they cannot receive their employment benefits like they have been used. This is because economically, the companies and corporations that have hired them are unable to afford such things. This means that the workers cannot access such benefits as disability benefits, health insurance, paid leaves and in some cases insurance payable when an employee dies in the vicinity of the workplace. Much as there has been legal wrangling, the companies have claimed that they cannot be able to pay the benefits because they are bankrupt. This has necessitated the government to come up with policies which are geared towards ensuring that all employees are paid their employment benefits when they are needed (Gregory).
The workers cannot also access some of the most important services because of lack of the necessary resources to access such services. This includes such services as health and security. In matters of health, in these times, many people cannot afford to have a health insurance and hence the rising cases of people visiting the emergency rooms when they face health emergencies. This has been directed even to their family members who are dependent on him like children. This is a very serious matter which needs to be addressed by the government because many people are risking their lives as well as the lives of their dependents (Chuck.
Conclusion
The recent economic recession has affected many aspects of life on the United States. One of the most affected entities is the workers of the country and the government is faced with the responsibility of ensuring the well being of this group of individuals because the economy stabilizing depends almost entirely on the workers. This can be done by the government introducing policies which even in economic hardships like the one that is being witnessed, the workers welfare and wellbeing are taken care of adequately by the government.
Works Cited
Chuck Baldwin, A Very Real New World Order. Web.
Gregory A. Hession, Timothy Geithner and the Group of Thirty, The New American. Web.
Gideon Rachman, and now for a world government, Financial Times, 2008.
Henry Kissinger, The world must forge a new order or retreat to chaos, The Independent, 2009.
Liam Halligan, A default by the US government is no longer unthinkable, The Telegraph. 2008.
Ron Paul, The Revolution – A Manifesto, 2008, First Edition, Grand Central Publishing.