Middle Class Unemployment Essay
on Middle Class Unemployment:
Middle class is a social group with stable income meeting a wide range of social and physical needs. The middle class, as a rule, includes people who have a high level of education and occupy an intermediate position in society: between rich and low-wage parts of the population. The functions of the middle class, inter alia, include the introduction of innovation and reproduction of qualified personnel, as well as maintaining stability in society.
On the background of the global increase in unemployment, and thereby becoming more pronounced income inequality in some countries, the proportion of the population that belongs to the middle class is gradually decreasing.
This conclusion was made by ILO experts who have carefully studied the middle class unemployment problem.
At the same time, experts noted that the greatest levels of inequality of income are inherent in such countries as Denmark, USA, France, and Spain. In these countries, the revenues in leadership positions have sharply increased. If we take, for example, Spain, it may be noted that in this country the number of people that can be attributed to the middle class, reduced to forty-six percent. While in 2007, this number was equal to fifty percent. It is interesting that in the U.S., the incomes of the rich people, who make up seven percent, have increased, while the income of ninety-three percent of population began to decline.
Raymond Torres, Director of the International Institute for Labour Studies has expressed his opinion on the matter. In particular, he is confident that the reduction in the number of the middle class is not a very positive sign. This fact will have an impact on economic development in general. Because we all know that in order to realize long-term investment projects, enterprises are oriented primarily on the representatives of the middle class.
According to the latest study, the majority of middle class were concerned about the same problems. It was primarily inflation and unemployment, while there had been a healthy optimism: 44 % admitted that they expect to raise the level of personal well-being in 2013.
Increasing inflationary fears affects the middle class consumer strategy. People are forced to cut spending on the purchase of consumer electronics, clothes, on visits to cafes and restaurants.
Every second of the respondents (55%) mention the cost of goods and services as the most important factor when making a purchasing decision.
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