The United States of America is witnessing a lot of economic problems. However, it has taken many decisions so as to reduce the effect of such issues. The middle-class families are getting agitated as well as frustrated. Their sole source of income is their jobs. Middle-class people don’t have an accumulated amount of funds to rely on. In simpler words, they aren’t getting proper job security. Let us discuss the most important economic issues which are presently prevailing in the US.
Due to the economic issues like unemployment, lower wages, higher cost of living, workers find it difficult to survive. Almost 75% of the paycheck gets consumed due to the basic amenities. The poor people are not getting appropriate opportunities so as to expand. Ultimately, they don’t invest and the economy lags.
Lack of better-paying jobs
The employment rate in the US is astonishing. However, employees do not get an adequate amount of salary. On the other hand, companies are getting more inclined towards automation. That is the reason why, the need for employees is diminishing and thus, creating unemployment. An average worker struggles while paying bills, fees, and so on. The growth in wages is not up to the mark. You need a fair salary so as to stay in one BHK apartment in the US.
Demand for Experienced and Trained Human Resource
The graduates are not getting jobs with adequate salaries. They either have to remain unemployed or work at a low salary. The companies aren’t selecting an adequate amount of employees. Most of the employees fail the selection tests or get rejected. Nowadays, business firms in the US are also looking for human resources with maximum qualifications.
Debt traps
The economic policies of the United States are very harsh for middle-class families. The cost of living in the US is very high. As a result, many citizens fall into debt traps. Employees undergo debts so as to train themselves for better-paid jobs. A very small portion of your salary can get saved. The rich people are taking away all the wealth from the other citizens. The United States is one richest country in the world. However, the country only aims at the accumulation of wealth rather than entertaining the needs of the other citizens.
Increased Health Costs
Increased health costs is another major economic issue which is prevailing in the US. The costs of the medications are too high to afford. Most of the middle-class people try to avoid them so as to save their money. The US needs to put more focus on its health care system. It should implement health care plans for the middle class and the poor. Taking up health insurance is out of the box since the premium rates are enough to make you bankrupt.
The United States of America must consider the needs and demands of its citizens. It is often said that unsatisfied citizens make the economy fall. However, the economy is taking steps to tackle these problems effectively. Meetings are periodically conducted for dealing with such issues. For better outcomes, the government should and must implement strict policies for the rich since they take away a major portion of the economy’s wealth.
Conclusion
The after-effects of the recession have caused havoc amongst the citizens of the United States. The problems pertaining to free markets are worsening the economic issues of the United States.
