Since their jobs not because they got

Since the 19th century, The United States has always had a strong belief in Capitalism. To this day, it still stands throughout the 21st century and will continue to be part of people’s lives. According to (Investopedia) Capitalism is “An economic system in which capital goods are owned by private individuals or businesses.” In other words “The production of goods and services is based on supply and demand in the general market.” You’re probably asking yourself “What does Capitalism have to do with unemployment?” In this essay, it will talk about how Capitalism and Unemployment go hand in hand in America.    When it comes to employment, we rely on big corporations to give us more hours and wages. That sometimes is not the case; other people tend to quit their jobs because they find another one that suits them “Frictional Unemployment”. If the person lost their jobs not because they got fired but because the company was going out of business, that would be called “Cyclical Unemployment.” In a capitalist society, companies do not really care much for workers but they care more about profits. According to (Art Perlo) in the article (Capitalism and unemployment), “When they are unable to meet the demand for whatever they produce, they hire more workers so they can increase output. When they can’t find buyers for their products or services, they cut back and lay off workers.” Anyone can get fired at any moment. It all depends on how the companies are doing.    “With high unemployment, businesses can be choosy about who they hire. This particularly affects youth, as well as African Americans, Latinos, women, and anyone without connections to an “old boy network.” (Art Perlo). Unemployment does affect everyone, not just one race or sex. In addition, (Ted: The Economic Daily) states that “In 2016, the overall civilian unemployment rate was 4.9 percent, while the rates for the major race and ethnicity groups ranged from 3.6 percent for Asians to 8.4 percent for Blacks or African Americans; the rate for Whites was 4.3 percent in 2016, and the rate for Hispanics or Latinos was 5.8 percent.” When people start losing their jobs, they all form together and fight for employment.When working a job, people could either have a high school diploma, a college degree, or no education.  Depending on what kind of studies you have, that can also have a big impact if you want higher pay. The more knowledge you have, the better chance of not getting unemployed. According to (David Andolfatto) “For starters, on average, the unemployment rate for blacks is 34 percent greater than that of Hispanics, 93 percent higher than that of whites, and 104 percent greater than that of Asians.” (David Andolfatto) also feels “These data suggest that policy initiatives to improve access to higher education for minorities may help reduce some of the disparities in the labor market.” No matter what race people are, we will have many being employed and unemployed because of their education.