The People Party is here to stand against injustice placed on the human race. We want to re-connect this great country with its original roots and foundation. Our founding fathers envisioned a country with freedom as well as equal rights for all. The People Party is committed to doing the best we can to maintain an unemployment rate that will properly benefit our economy. By bringing jobs back to America as well as creating new ones, we believe that as a whole, we will be able to keep the unemployment rate between 4.5 and 5.5 percent. Having a fairly low unemployment rate (as previously stated) will benefit this country in all aspects including less money the government has to borrow as well as optimal levels of production from companies and organizations. Our plan for the United States of America is to increase economic prosperity while also consistently benefiting all members of society.
Up until the year 1948, the median rate of unemployment was 5.6 percent. According to Wikipedia, the United States falls 20th in long-term unemployment rate compared to all the other countries of the world.
- The economy of the United States has added roughly 2.2 million more jobs available within the past twelve months. The National Bureau of Statistics states that we have been consistently gaining jobs back for the past seventy-five months in a row.
- Our current unemployment rate is at 4.7 percent, due to the stance on unemployment previous President Barack Obama took. This is a great position to be in as it falls just short to what the natural rate of unemployment should be for an optimally functioning society. When he came into office, the rate was at 7.8 percent, and continued to rise. Over the course of the first thirteen months he had in office, he continuously lost more jobs until he reached a loss of 4.3 million jobs.
- FactCheck states: “The highest ever recorded in the nearly sixteen years the Bureau of Labor Statistics has tracked this figure was in April 2016, when job openings topped 5.8 million.” President Donald Trump (4.7 percent) has been handed to him a much better rate of unemployment than previous President Obama (7.8 percent) had been placed with.
- The natural rate of unemployment is the rate of unemployment arising from all sources except fluctuations in aggregate demand. This is achieved when labor markets are in balance. The FRED Blog explains to us that the natural rate of unemployment is 4.96 percent.
This works best for society because if everyone has a job, then there won’t be any room for expansion within the businesses. This also benefits those attempting to start up their own company or business as there would be a fairly small pool of available people to fill the job positions within that company. Without this pool of unemployment, these new organizations would have no one to hire, thus leaving them unable to create a new company. The People Party is here to ensure these high standards of our country are upheld.
The People Party wants you to know that we are committed to keeping this fairly low unemployment rate of the country, and hopefully in turn lowering the poverty rate of 13.5 percent as well. By creating new jobs such as rebuilding our infrastructure and renovating abandoned housing, we can help reduce the United States’ poverty rate. We can also begin creating regular job schedules that actually work for those in the job market. This will help out those working low wage hourly jobs as these types of jobs often come with unforeseeable and frequently changing work schedules that many people cannot balance while also caring for a family/children or going to school, etc. Although having an aproximate unemployment rate of 5 percent benefits most of society, it would likely burden those members of society who are a part of that temporary unemployment pool.
This operation would be paid for by the citizens of the United States through the taxes we pay as well as the new start up companies who will be hiring people looking for jobs from the pool of unemployment. Having a natural unemployment rate of about 5 percent will also benefit the general population as a whole. When companies and businesses operate with a proper, full staff, they output an optimal level of products per shipment period. This is good because those companies are then able to meet the demand of all their customers while maintaining a healthy relationship with the supplier. A natural rate of unemployment (~5 percent) also allows for easier job access, which benefits anyone searching for a new job. This is because when unemployment is fairly low, companies have trust in the market demand for the near future, thus resulting in the hiring of new employees to expand the organization, or create a new one. Lastly, we would benefit from having our government borrow less money because when we have ~95 percent of people working, the government does not need to release as much money as it does now for the welfare assistance programs.
The People Party wants to see the United States become even more of a place of fulfillment and hope for everyone. We envision a natural unemployment rate of 4.96 percent that would be kept up on for the period of time the People Party is in office, and hopefully after too. We want to see more economic prosperity with numerous opportunities, fairness, and equality for all citizens of the United States. We will also have the opportunity of lowering our tax rates; more jobs equal less welfare money distribution, which can output a lower federal tax rate. The People Party strongly believes that once the United States has numerous job opportunities again, our society will be fortunate enough to increase fulfillment of life, as well as success and wealth.