Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from essay:
The labor productivity rates are expected to maintain their ascendant trend throughout the next period.
The increases in productivity can be explained through the combined actions of three forces:
improved quality of the labor and superior performances of the human resource increased quantities of organizational capitals higher efficiency of the labor process, including such forces as technological developments, socio-cultural changes, the creation of scale economies or the reallocation of labor
Cyclic Changes in Productivity
However it has been established the generalized growth tendency on the long run, the study of short terms presents the reader with evidence of cyclic behaviors in labor productivity. To better understand - the labor productivity decreases during times of economic difficulties and increases in periods of boom or economic recovery. There are various reasons why the cyclic trend is revealed in the short run; the most important three such reasons are the modifications in using labor, modifications in the usage of equipments and finally, changes in the formation of the aggregate output.
In terms of labor utilization it can be said that in times of recession, employees shift away from manufacturing to services (such as maintenance of the goods previously produced) - as a result, labor productivity decreases. In terms of plant and equipments, it has been observed that in times of economic difficulties, manufacturers do not use their gadgets at maximum capacity, once again generating a reduction in labor productivity.
Productivity and Employment
The existence of a relationship between labor productivity and employment patters has been debated for years. A common belief relative to this relationship was that increases in productivity (and labor force efficiency) imply a reduced need for labor force and therefore generate the loss of jobs and increased unemployment rates. In order to make a most informed statement, numerous scholars and practitioners have conducted studies within a multitude of industries. The results were however inconclusive and the final statement was that there is no actually observed relationship between employment and labor productivity.
Chapter 18: Employment and Unemployment
Employment and Unemployment Statistics
The statistical analyses are generally conducted by the Bureau of Census and their results are most often relevant. In order to make sure of the relevance of the statistical findings, one has to make the clear distinction between employed and unemployed individuals. They must then correlate it with the entire population, as well as the entire labor force.
In the U.S., the employment-population rate has been increasing for nearly five decades, whereas the unemployment rate has fluctuated significantly for the same period.
Macroeconomic Output and Employment Determination
In order to answer the questions of this subchapter, the author defines the concepts of aggregate supply and aggregate demand, as well as offering a graphic presentation of the two notions. The curve of aggregate supply reveals the amount of work employees are willing to put in for a given wage rate. The aggregate demand curve reveals the level of employment in terms of profit maximization, presented by each wage rate. The state of equilibrium is reached when the demand equals the supply.
Considering a situation in which equilibrium in the labor force market is in fact achieved and the communities offer sufficient jobs for the entire population, a creation rate of unemployment will exist. This is generally explained by the frictional unemployment, materialized due to five forces, as follows:
employees continually leave their current jobs in search of better ones individuals loose jobs and look for new ones students graduate and enter the workforce for the first time in search for positions individuals reenter the workforce after periods of absence (such as maternity leaves), and finally it takes 30 days for an employee to leave his current job and get to the next one
The structural unemployment is somewhat similar to the frictional one in the meaning that it is also part of the natural unemployment rates, but it occurs on shorter periods and has more damaging effects, mostly materialized in financial losses. It is generated by changes in the composition of the labor force, in terms of both supply and demand.
The punctual reasons which create structural unemployment are multiple. One could for instance name but a few of the most important ones as being: the technological innovations of the recent periods, a discrepancy between the skills and capabilities possessed by a candidate and those desired by the employer or geographical mismatches between the location of the employment facility and the residence of the candidates.
The natural unemployment rate if somewhere between 4.0 and 5.0%; the real unemployment however generally exceeds it. In 1933 for instance, towards the end of the Great Economic Depression, nearly 25% of the population was unemployed. This is also related to the cyclic unemployment and beliefs have been forwarded to link it to the declining aggregate demand of labor force. In a more simplistic formulation, reduced demand for output generates reduced demand of labor and consequently, increased unemployment.
Reducing Unemployment: Public Policies
Achieving reductions in unemployment rates has been the goal of every governing power. In the United States, numerous regulations have been implemented in this direction, such as fiscal and monetary policies. The primary purpose of these regulations is to reduce frictional, structural and demand-deficient unemployment.
"Labor Economics Job Search External" (2008, November 28) Retrieved October 22, 2016, from http://www.paperdue.com/essay/labor-economics-job-search-external-26365
"Labor Economics Job Search External" 28 November 2008. Web.22 October. 2016. <http://www.paperdue.com/essay/labor-economics-job-search-external-26365>
"Labor Economics Job Search External", 28 November 2008, Accessed.22 October. 2016, http://www.paperdue.com/essay/labor-economics-job-search-external-26365
This being the key player in the economy of the country, it is crucial to revive it as the priority towards reduction of unemployment in the economy. Structural reforms within the export sector involve the introduction of multinationals to supplement efforts of inward investment or revolution. The rate of impact differs in attempts to alleviate unemployment incidences (OECD 2011, pg 91-131). This is because multinationals proves to deliver an
External and Internal Recruitment External recruitment and its strategy at Coca Cola Company Recruitment refers to an act of enabling employees take after the various roles and responsibilities within an organization. The act of selecting and employing procedures that ends in having employees fill up various responsibilities within an organization is referred to as recruitment. External recruitment refers to a recruitment process that the human resource of an organization moves outside the
Labor Market, Unemployment Defining and classifying Unemployment There is a level of unemployment in any economy, which is not automatically a bad thing, as most people would think. The presence of a level of unemployment, which usually is presented as a percentage, indicates that at any one given point in that economy, there are people looking for work and managers looking for better employees. In economics, the only important factor to look
At the level of the individual worker, motivation and job satisfaction among other things, generate a sense of security and confidence. Moreover, it offers them the opportunity for flexibility where they are able to apply varied approaches in meeting work requirements (Adeyinka et al., 2007, pp. 3-15). This makes the work environment interesting thus providing the employees with the pleasure and urge to facing their day-to-day lives at the workplace.
The process would take centuries, but by Elizabethan times it had surely begun. Serfdom had all but disappeared from England, and money rents and wages had largely replaced other forms of compensation and exchange. The new importance of trade contributed to a profound change in attitudes, one that was beginning to re-shape society itself. In 1579, Thomas Churchyard defined as nobles, "Merchauntes that sail forrain countreys," a statement that
This also determined the development of tourism in Bahrain. The economic development of the country and the local culture has attracted an important number of tourists that are interested in visiting Bahrain. This also helps continue the tradition of pearl diving, but as recreational and touristic attractions. Recommendations It is difficult to identify future steps that can minimize the impact of globalization on the Bahrain pearl market. Basically, the country cannot oppose
One can therefore expect that Israel will benefit from an increase in knowledge-based industry that will continue to power employment and GDP growth. Investment Investment is a triple indicator: relative attractiveness of the country, the type of investment being attracted, and political stability or instability. In comparison to the U.S., all countries save Saudi Arabia are attracting more investment. One would expect that the U.S., as a relatively mature first-world economy,