Employment

Introduction

Employment is defined as the work or occupation for which one is often paid. Employment is vital to society because it keeps money in circulation. For example, when an individual works, they receive payment or compensation. They then use the compensation to purchase goods or services, which indirectly compensates the person or company from whom they purchase the goods. High unemployment rates are usually indirectly linked to low consumer spending. Employment can come with many benefits, including health insurance and discounts on various goods and services. Those who may not benefit from employment are those who are injured, sick, or too young to work.

Employment rates for the last 40 years have shown to be fairly capricious in major international economies. From 2007 to 2009, a recession hit the international marketplace that affected millions of people around the world. The 2007–2009 recession (or the Great Recession) hit several economies, making the employment rate...