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Schwartz, N. D. (2016). Wages Rise as U.S. Unemployment Rate Falls Below 5%. The New York Times.
As pointed out in the article above, the unemployment rate in the American market has improved and declined to 4.9%. Part of the improvement in the aforementioned unemployment is in hidden unemployment. This can be defined as the unemployment that takes place when the work available to a certain workforce is insufficient to keep it fully employed so that some members of the workforce could be withdrawn without loss of output. As pointed out by O'Sullivan et al. (2010), in the course of period of poor economic performance and slow economic growth, the level of unemployment substantially rises and becomes a cause of public concern. On the other hand, in the course of good economic performance and rapid economic growth, there is a decline in employment, but does not disappear altogether. Therefore, the decline in the unemployment rate is indicative of a period of economic performance in the United States.
Ethics Reflect and describe which key concepts and topics in this course have made you a stronger candidate to enter the business world. The concept of taxation is very important to the average American. For one, the government in the near future may increase taxes as the economy begins to recover. These tax revenues will ultimately be used to fund entitlement programs that don't necessary benefit society at large. Therefore, knowledge about
He would be faced with deciding whether he must spend all his available resources on goods or services, or whether he must save some of his income so that he would be able to finance some of his needs of his future. When he is taken as a labor resource, he must make the decision whether he must use his time in working for his pay, or whether he
Economic Efficiency Right now, we are seeing the beginning of the rollout of Obamacare, the kludge solution to America's broken health care system. The Affordable Care Act is a suite of laws and regulations that are designed to improve access to health care services in the United States, and the rollout has been spaced out over the course of a few years. Right now, the rollout is intensifying but the most
Economic Situation What "current macroeconomic situation" U.S. (e.g. U.S. economy concerned unemployment, inflation, recession,)? What fiscal policies monetary policies time? Key concepts include paper -- data trends unemployment, inflation, GDP growth, expansionary fiscal policy tools, FOMC, easy money policy tools terms class. What is the current macroeconomic situation in the U.S. The United States is no longer mired in a full-blown recession as it was in 2008, but the process of economic
Also the overall recession happening in the economies of the world today will make the overall implementation of the policies of wage protection a lot tougher to apply for the company owners and the impact would definitely result in short- and long-term brake wage dynamics across the country. Furthermore, the wage protection structure inadvertently demands skilled labor which in most situations us a good impact but it can and
The long-run price elasticity of demand for gasoline is stronger at 0.7 (Ibid). This implies that in the long-run, given higher gas prices, consumers will adjust their consumption habits. One example is that consumers will purchase more fuel efficient vehicles, thereby lowering their consumption level. Some consumers may switch to public transit. Young adults entering the workforce may eschew car ownership altogether in favor of other modes of transport. In