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Unemployment rate and High school graduation rate
In the U.S., the unemployment rate has a significant effect on American economy. According to the Bureau of Labor Statistics, in 2017, the present unemployment rate of U.S. is 4.3%, which reach the lowest level since 2007.
In fact, some economists point out that the unemployment rate is the indication of economic backwardness, because the economy is generally improved before the unemployment rate is rising again (Hudson).
Unemployment, however, can lead to a chain reaction that will affect the whole economy. When someone lost his/her jobs, the state and federal will be less receive one person’s income tax. Besides, the sales tax revenue will go down, because the unemployed person will cut down their unnecessary spending to save money in order to maintain their livelihood. In the meantime, it will increase the burden of government. “If the country's government is not financially stable, then the banks and the whole financial system will experience a decrease in confidence translating to a downturn in the value of the stock market” (Hudson).
As we can see, the unemployment rate has a great impact to the economy of U.S. Thus, in this project, we want to find out what factor might affect the unemployment rate, which could help to reduce the unemployment rate, and create a stable environment for the development of American economy.
In this project, we predict that the unemployment rate may be related to the public high school graduation rate, and we believe that the states have lower high school graduation rate which will have high unemployment rate. We assume this because the people can not graduate from the public high school would have lower competition ability to look for a job, due to their low education level and skill.
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