To begin with, let us state that the newspaper article under consideration in the article under the following title: “California Joblessness Reaches 70-Year High”. The author of the article is Jennifer Steinhauer and the source where the article is taken from is the newspaper “The New York Times”, issued on September 18, 2009, that is why the information under consideration is proved to be urgent and requires out attention. In the analyzed article the author tackles the question of present-day unemployment in California, the USA. The main idea of the article under study may be defined in the following way, using a direct quotation taken from the article: “The unemployment rate in the country’s most populous state underscores how the incipient economic recovery continues to delude millions of Americans seeking work” (Steinhauer par. 1).
Speaking about our own attitude to this article, it should be mentioned that we totally agree with the information presented in the article, because the author presents there reliable information on the topic and makes the reader get acquainted with the factual information, quoting official speeches and sources. Besides, Steinhauer presents a clear diagram showing the unemployment rate in California in the period from the 1940s up to today. The author has no intention to impose her personal views on the reader, she is just trying to give us information on the topic that may be useful for everyone, especially for those who are directly or indirectly affected by unemployment.
Let us make clear our choice of the analyzed article. The topic “unemployment” was chosen because it presents great importance for macroeconomics in general. Manfred Gärtner states that macroeconomics “studies the whole economy from a bird’s eye perspective” and the study of the rate of unemployment occupies here a considerable place. It can be proved by the fact that income is one of the most important macroeconomic variables, and there is no need to explain that income and income growth are closely connected with the growth of unemployment, for the growth of unemployment is sure to cause the decrease of income (Gärtner 409).
Returning back to the article under study we feel the necessity of mentioning some facts presented there. It is commonly known that California is very important for the economy of the whole country that is why the situation with unemployment there deserves attention of the economists. The seriousness of the situation may be proved by the following quotation: “unemployment, which is often the last economic indicator to turn around in a protracted recession, is expected to remain high for the near future” (Steinhauer par. 5). The author gives the information based on the recent study of the University of California, that while the state would enjoy 2 percent quarterly growth in 2010, the rate of unemployed people would still remain above 10 percent (Steinhauer par. 5).
Also, the author tackles the question of budget of the state signed by the governor of the state, Arnold Schwarzenegger, that appeared to be very controversial and that could be considered a proof of the serious situation with unemployment rate. Still, the final part of the article presents some optimistic information about Californian perspectives, mentioning that in August home sales have risen 11 percent in comparison with the previous year, the export of the state is growing again, and there is a demand for goods and the decrease of layoffs (Steinhauer par.10).
To make a conclusion, let us say that textbooks on macroeconomics and microeconomics can give us good theoretical basis. At the same time the process of studying should include practical information, good sources of which are reliable newspapers that throw light on vital problem of the country.
Works Cited
Gärtner, Manfred. Macroeconomics. Gosport: Pearson Education, 2006.
Steinhauer, Jennifer. “California Joblessness Reaches 70-Year High”. The New York Times. 2009.