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The Disparity in the Unemployment ate in the United States
A recent article in the Sun Journal by Margaret Fisher (2012) has raised some serious questions as to the true state of the economy. While statistics from the department of labor assert the unemployment rate has dropped, giving the impression that the economy is in a recovery mode, Fisher maintains that this is misleading due to the fact that many people have stopped looking for jobs. When people stop looking for work and drop out of the system the unemployment rate goes down.
Currently the unemployment rate in the state of North Carolina is 1.3% lower than last year and has been steady or decreasing over the same period when it was 10.6%. By comparison the national rate has consistently decreased over the same period from about 8.9% to7.9% today.
Unemployment ate in North Carolina as Compared to…
Cox, J. (2012, August 7). "Real" unemployment rate shows far more jobless. CNBC.com. November 25, 2012, from http://www.cnbc.com/id/48468748/Real_Unemployment_Rate_Shows_Far_More_Jobless
Fisher, M. (2012, November 17). Unemployment rate decrease may be misleading. Sun journal, Kingston Free Press. New Bern, North Carolina. Retrieved November 25, 2012, from http://www.newbernsj.com/news/local/unemployment-rate-decrease-may-be-misleading-1.51517
Koba, M. (2012, September 12). Unemployment: CNBS explains. CNBC.com. Retrieved November 25, 2012, from http://www.cnbc.com/id/44451664/
"Why the 7.8% unemployment rate is misleading." (2012, October 8). Third millennium times. Retrieved November 26, 2012, from http://thirdmillenniumtimes.com/why-the-7-8-unemployment-rate-is-unhelpful-and-misleading/
For example, one Pontiac Assembly plant in Pontiac, Michigan, "was running three consecutive eight-hour shifts, employing 3,000 people and making 1,300 trucks a day," in 2003, but in the summer of 2009, the plant had only 600 workers and "was running just one shift" (Mahler 2009, p.1). As a result of the failure of GM, the housing bubble, and the explosion of easy credit and 'creative' financing, many Michigan residents "have their homes foreclosed -- Detroit has one of the highest foreclosure rates in the nation" (Mahler 2009, p.2).
Of course Illinois was not exempt from the effects of the recession. But Illinois' unemployment rate, while high, is not unusually high compared with other states in the region: "the Midwest and West both had jobless rates of 10.2%," according to CNN, in July of 2009, compared with Michigan's 15% at that time. No Midwestern states were immune from the crisis,…
Mahler, Jonathan. (2009, June 26). G.M., Detroit and the fall of the black middle class.
The New York Times. Retrieved January 20, 2009 at http://www.nytimes.com/2009/06/28/magazine/28detroit-t.html?_r=1
Michigan unemployment tops 15%. (2009, July 17) CNN.com Retrieved January 20, 2009 at http://money.cnn.com/ 2009/07/17/news/economy/state_unemployment_report/index.htm
"The Detroit, Michigan drop-out rate among black males is 50%, the Detroit unemployment rate among black males is 50%" (Kill 145). This demonstrates that education is very important when considering unemployment rates and that the auto industry is, to a certain degree, not the only institution responsible for the critical conditions currently faced by individuals in Michigan.
Although it is difficult to determine what other factors are responsible for the high unemployment rates in Michigan in the recent years, it is only safe to assume that the fact that the collapse of the automotive industry in the state is one of the principal causes for the crisis. hat is curious about this is that other states that have automotive industries have experienced lesser problems as a result of the fact that American car sales have gone down. Michigan "is still by far the leading state in terms of auto industry…
Cooney, Stephen, and Yacobucci, Brent D. "U.S. Automotive Industry: Policy Overview and Recent History," (Nova Publishers, 2007 )
Gaquin, Deirdre, and Dunn, Gwenavere, "The Who, What, and Where of America: Understanding the American Community Survey," (Bernan Press, 19.06.2012)
Kill, Don R. "Tick - Tock: A Penetrating Look at the 4 Crisis That Will Alter Your Future," (AuthorHouse, 28.02.2007)
Klier, Thomas H, and Rubenstein, James M., "Who Really Made Your Car?: Restructuring and Geographic Change in the Auto Industry," (W.E. Upjohn Institute, 30.07.2008)
Thus, the testing will not only expose a relationship, but may shed light into how it will continue to evolve in the future. Using Microsoft Excel, a regression test was administered for each individual independent variable as it related to the dependent variable of general unemployment in Detroit.
Automotive Industry Employment rates in thousands
(United States Bureau of Labor Statistics 2012)
labor force employment unemployment
United States Bureau of Labor Statistics. (2012). Local area unemployment statistics: Detroit-Lionia-Dearborn. Databases, Tables, & Calculators by Subject. United States Department of Labor. Web. http://data.bls.gov/timeseries/LAUDV26198003?data_tool=XGtable
United States Bureau of Labor Statistics. (2012). Motor vehicle parts manufacturing. Databases, Tables, & Calculators by Subject: State and Area Employment, Hours, and Earnings. United States Department of Labor. Web. http://data.bls.gov/timeseries/SMU26000003133630001?data_tool=XGtable
For the purpose of this discussion we will explain the economic impact of unemployment rates. One of the main impacts of unemployment on the economy is that it inhibits people's ability to pay for necessities and luxury items and in doing so consumer confidence is diminished ("Unemployment"). In addition when people are unable to purchase their basic necessities they begin to utilize welfare programs which can be associated with a whole host of economic and social issues when people are unemployed for a significant amount of time and become dependent on the system ("Unemployment").
As such low unemployment rates are encouraged because they have the opposite effect on the economy.
However, there are some unwanted effects of high unemployment rates, including inflation. According to the article there are also those that argue that unemployment can increase productivity and profitability because it causes people to fear that they will loose their…
Cracraft C. (9/26/2006) Jobless rates down in 75 counties from August 2005 to August 2006. Retrieved October 2, 2006 from; http://www.workforcekentucky.ky.gov/article.asp?PAGEID=4&SUBID=&articleID=558
Kentucky unemployment dropped in August (September 21, 2006) Cincinnati Business Courier. Retrieved October 2, 2006 from; http://cincinnati.bizjournals.com/cincinnati/stories/2006/09/18/daily38.html?jst=b_ln_hl
Unemployment." Retrieved October 2, 2006 from; http://www.colombialink.com/01_INDEX/index_finanzas_eng/unemployment.html
economists overstating cyclical unemployment rate understating natural rate?
Are economists overstating the cyclical unemployment rate and understating the natural rate?
Cyclical unemployment derives its name from the fact that it reflects the 'cyclical' ebbs and flows of the business cycle (Ask an economist, 2008, Labor Market Info). When the economy is doing poorly, workers are let go and are involuntarily unemployed. Although the contraction may begin within one economic sector, eventually most spheres are affected as people spend less money, causing production to slow and more workers to be laid off. As the economy improves, production increases, more workers are hired and more workers spend money.
However, other types of unemployment exist that are not directly related to the business cycle called 'natural' unemployment. "Frictional unemployment refers to workers who are temporarily without jobs and searching for new ones that are better suited to their skill sets and…
Ask an economist -- What are the similarities and differences between Natural Unemployment
and Cyclical Unemployment? (2008). Labor Market Info. Retrieved: http://www.labormarketinfo.edd.ca.gov/article.asp?articleid=1189
Coyne, Tom. (2012). Jobs go unfulfilled because workers lack skills. WHITV. Retrieved:
The big three could not afford to keep up production in the United States at levels previously seen and still make enough of a profit to lead them out of financial disaster. GM alone reduced its workforce to fewer than 45,000 workers (Feeley, 2011). Most of these jobs went overseas, where labor was cheap. As such, "the state of Detroit is not really surprising given the reorganization of the U.S. auto industry, which was the met and potatoes of the city's workforce in the first three quarters of the 20th century" (Feeley, 2011). Detroit suffers as the automotive industry tries to regain its footing. Outsourcing has been the biggest threat to American automotive jobs. "As the city's oldest plants closed, production moved outward," far overseas in places like China (Feeley, 2011). This helps explain why automotive profits have began to rise in the past few years, but this has not…
Feeley, Dianne. (2011). Detroit: Disappearing city? Solidarity. Web. http://www.solidarity-us.org/site/node/3131
Klier, Thomas & Patton, Ryan. (2012). How do high gas prices impact Detroit vehicle producers? Federal Reserve Bank of Chicago. Web. http://midwest.chicagofedblogs.org/archives/auto_industry/
Relationship between unemployment rate and new disability pensions in the US
Overview of the topic
Persistent high unemployment rates have remained a cause of great concern both in America and other developed nations, with US unemployment rates reaching a never-before-seen high since the 30’s Depression, in the mid-70’s – early-80’s period. But the years 1983-84 witnessed a renewed decline in unemployment rates (Reno & Price, 1985). In spite of unprecedented unemployment peaks in the course of the last ten years, employment rates have increased from the 1970 figure of 80.8 million labor force members to 102.5 million (1983) (Reno & Price, 1985). Cyclical disability insurance only cropped up in the disability insurance termination era of the early-to-mid 80s (Cutler, Meara, & Shubik, 2012).
Rationale for selecting the topic
Premature retirement with decreased actuarial benefits prior to 65 years of age first became available in the years 1961 (males) and 1965…
Cutler, D. M., Meara, E., & Shubik, S. R. (2012). Unemployment and Disability: Evidence from the Great Recession . NBER, 2.
Reno, V. P., & Price, D. N. (1985). Relationship Between the Retirement, Disability, and Unemployment Insurance Programs: The U.S. Experience . Social Security Bulletin, 24-36.
Wiczer, D. (2017). The Connection Between Social Security Disability Insurance and High Unemployment. Economic Synopses.
The Makings of Community
The local community of Gaithersburg, Maryland is a fairly well to do suburb of Washington D.C. Today, it has a number of industries characterized by the life sciences and science in general. The impetus for these industries arguably occurred midway through the 20th century when the National Institute of Standards and Technology (known at the time as the National Bureau of Standards) arrived (Gaithersburg Life, 2016). The correlation between this entity and other public sector interests in nearby Washington D.C. is responsible for the array of technology and science companies which populate this city, which still feels like a suburb in many ways. Gaithersburg is known for its diversity and its railroad.
In many ways, Gaithersburg’s historical development chronicles that of the United States itself. It originated in the 18th century as a small agricultural town in which the chief industry was husbandry. Moreover, the region…
Best Places. (2017). Gaithersburg, Maryland. http://www.bestplaces.net/ Retrieved from http://www.bestplaces.net/economy/city/maryland/gaithersburg
Data USA. (2015). Gaithersburg, M.D. https://datausa.io/ Retrieved from https://datausa.io/profile/geo/gaithersburg-md/#economy
Gaithersburg Life. (2017). A brief history of Gaithersburg, Maryland. http://gaithersburg.life/ Retrieved from http://gaithersburg.life/a-brief-history-of-gaithersburg-maryland/
United States Census Bureau. (2015). Gaithersburg city, Maryland. https://www.census.gov/ Retrieved from https://www.census.gov/quickfacts/fact/table/gaithersburgcitymaryland/POP060210#viewtop
unemployment and tax reform on our social structure including theoretical framework on functionalism, social conflict and symbolic framework and so on and so forth. The orks Cited eight sources in MLA format.
Unemployment has long been the cause of ruin of the American society as well as the global social structure. Persistence in unemployment and the related tax reforms have done much harm than have benefited the mankind on this face of earth. There have been several effects of unemployment and tax reforms on our social structure. The passages below of our research paper will look into not only these effects but will also include theoretical framework on functionalism and social conflict. Before we begin our discussion on the effects of unemployment on the social structure as well as on the effects of tax reforms, it is essential that the readers have a look at the precise yet comprehensive…
Social Structure." Encyclopedia Britannica. 2003. Encyclopedia Britannica Premium Service. Retrieved 10 Jul, 2003 at http://www.britannica.com/eb/article?eu=117544 .
Functionalism, Conflict Theory and Symbolic Interactionism. Retrieved 10 Jul, 2003 at http://www.*****/free_essays/4/sociology/functionalism-confict-theory-and-symbolic-interaction.shtml
Social and psychological effects of unemployment. Retrieved July 10, 2003 at http://www.e-resaneh.com/English/Social/Social%20and%20Psychological%20Effects%20of%20Unemployment.html
Saunders P. Direct and indirect effects of unemployment. Paper presented at the Australian National University in the F.H. Gruen Lecture Series on Welfare and the Labor Market: The New Frontier for Reform.
Unemployment and its Effect on Aggregate Supply and Demand:
The Obama administration is looking for ways to create jobs and stimulate growth after temporarily setting aside the debt limit. The need for job creation and stimulating economic growth originates from the high unemployment that the country experiences. This high unemployment rate is an actual reflection of the serious shortfall of aggregate demand in the United States. The U.S. unemployment rate is high essentially because the country's economy is generating below its capacity. Actually, while the U.S. economy has made some gains from time to time, its real GDP is estimated at 6% below its trend path or capacity.
There are various reasons attributed to the high unemployment rate including its consideration as a consequence or outcome of the collapse of demand rather than a distinct, instantaneous problem. Some of the reasons attributed to the unemployment problem in the United States…
Bartlett, B. (2011, August 16). It's the Aggregate Demand, Stupid. The New York Times. Retrieved March 1, 2013, from http://economix.blogs.nytimes.com/2011/08/16/its-the-aggregate-demand-stupid/
Blinder, A.S. (2008). Keynesian Economics. Retrieved March 1, 2013, from http://www.econlib.org/library/Enc/KeynesianEconomics.html
Goodwin et. al. (2006, November 3). Theories of Unemployment. Retrieved March 1, 2013, from http://www.eoearth.org/article/Theories_of_unemployment
C much faster, could become a good timed cheaper investment in our infrastructure
These actions that encourage growth by decreasing unemployment could be a trigger for increased inflation, added to the already considerable amounts of government spending required by the bailouts and the stimulus package. This could actually translate into inflation levels to spiral out of control during next year if the economy will recover without controlling the spending. Viewed from this point-of-view, I would add to my first recommendations another one: the government should find a way of developing the actions above with as little as possible spending from its side… it might be by involving more the private sector through tax cuts or other motivators, that would still reduce its tax income, but will not increase that much the public spending.
24-7PressRelease, "Job Crisis In The U.S. As The Unemployment Rises To 10.1%. U.S. Leaders Warn of…
24-7PressRelease, "Job Crisis In The U.S. As The Unemployment Rises To 10.1%. U.S. Leaders Warn of More Gloom To Come With Record High Mass Layoffs September 2009," Bournemouth, England, November 2, 2009, retrieved online on November 7, 2009, from http://www.earthtimes.org/articles/show/job-crisis-in-the-us,1024036.shtml
Barr, Colin, "Stop the 'jobless recovery' madness!," CNN Money -- Fortune, New York, November 6, 2009, retrieved online on November 7, 2009 from http://money.cnn.com/ 2009/11/06/news/economy/jobless.recovery.fortune/index.htm
Isidore, Chris, "Economy finally back in gear," New York, October 29, 2009, retrieved online on November 6, 2009 from
Unemployment: A Social Problem?
There are few problems that nations face more perplexing than that of unemployment. The condition of being unemployed is in some ways natural to a capitalist system, as businesses try to succeed while spending as few resources as possible, and a flexible workforce means most people are willing and happy to change jobs several times throughout their lives. The problems of unemployment then often only go noticed during periods of economic slowdown, when the number of out of work individuals rises far beyond the ability of private business to give these individuals jobs. Unemployment is a significant social problem caused by poor economic conditions, and as such, unemployment should not simply be characterized as an individual's inability to find meaningful work, but also a nation's inability to provide meaningful employment to the entirety of its workforce.
A highly developed economy requires a busy and proactive society…
Block, F. (1981). Policy analysis. Retrieved from http://www.cato.org/pubs/pas/pa004.html
Paul., & Moser (2009). Psychological effects of unemployment and underemployment. Retrieved from http://www.apa.org/about/gr/issues/socioeconomic/unemployment.aspx
The effects of unemployment: The effects on society. (2011). Retrieved from http://www.blacksacademy.net/content/3312.html
Riley, G. (2006, September). Tutor2u. Retrieved from http://tutor2u.net/economics/revision-notes/a2-macro-unemployment.html
Unemployment Lynn MA Case Proposal
In the U.S. unemployment has hit record highs. Unemployment of large segments of the working population, with rates as high as 9.5% in the general working population and 18% among young people affect everyone as these individuals are stagnating and struggling to provide for themselves and their families. (Fried, Revell, Rosato, Yahalom, Poppick, & Swiatek 76) The current recession has created consumer restraint as more and more people face and fear unemployment as well as concerns about financial security in general. This has resulted in U.S. unemployment rates based on both lower demand for products and services and corporate hiring conservation. ("Economic Policy" 15-16) In the state of Massachusetts the unemployment rate remains slightly lower than the national average at 7.3% as of October 2011, yet the problem is still one in need of address, and the unemployment rate in the Boston area including Lynn…
Anderson, Eric. "Avoiding a fall in 2012." Times Union (Albany, NY) 27 Nov. 2011:B2.
"Economic Policy." Country Report. United States 5 (2011): 15-16.
Foroohar, Rana. "The Truth About The Poverty Crisis." Time 178.12 (2011): 24.
Fried, Carla, Revell, Janice, Rosato, Donna, Yahalom, Tali, Poppick, Susie, & Swiatek, Greg. "Jobs." Money, 40.11, (2011):76.
ecently Nancy Pelosi, Speaker of the United States House of epresentatives was quoted as saying that unemployment benefits are the leading stimulus to an economy in need of a quick fix. Her reasoning was that the unemployed immediately spent those benefits, therefore generating economic activity. Financial experts were quick to point out that such reasoning would mean that every citizen should just go on unemployment then, because such action would generate so much economic activity that the recent recession would be a distant memory in a very short period of time.
The question that this paper will seek to answer is whether extending unemployment benefits is a boon to the economy as stated by Nancy Pelosi, or does the extension of those benefits only add to the deficit, thereby ensuring that unemployment continues to be a huge problem and a drag on the economy.
The answer to that…
Downing, N. (2009) Riding out the storm, State Legislatures, Vol. 35, Issue 8, pp. 22 -- 24
Hansen, G. (1988). Layoffs, plant closings, and worker displacement in America. Journal of Social Issues, 44(4), 153-171
Obama, B.H. (2010) Remarks on legislation extending unemployment insurance benefits, Daily Compilation of Presidential Documents, 7/19/2010, pp. 1-2
Unemployment in America
Policy makers in the United States continuously seek the silver bullet(s) -- plural solutions because there is clear recognition that the issue is multifaceted -- that will achieve healthy levels of employment in the nation. Certainly there some paths to increasing employment in the country are less expensive than others, and proposed solutions range across a wide array of complexity and practicality. Invariably, today, education becomes a focal point for discussions and debates about how to increase employment in any nation. This is due largely to the potential promise that solutions based in education can act as levers that are sufficiently effective to induce change.
Solutions to unemployment must be developed through the perfection of the alignment between the education young American receive -- in both secondary (high school) and post-secondary (college / university) educational systems -- and the actual labor market.
In his article…
Friedman, T.L. (2010, November 23). U.S.G. And P.T.A. The Opinion Pages. The New York Times. Retrieved http://www.nytimes.com/2010/11/24/opinion/24friedman.html?_r=1& ;
Hacker, A. (2012, February 28). Is Algebra Necessary? The Sunday Review. The New York Times. Retrieved http://www.nytimes.com/2012/07/29/opinion/sunday/is-algebra-necessary.html
8 for August, 2008, the most recent available (next release is October 20th). This represents a decline over the previous month, and the lowest level of the year. Over the past three months, this index has trended down. In June this was at 102.0, then 101.3 in July. Prior to that the level it had been stable all year (either 101.9 or 102.0).
In terms of individual components, the following components were up: average weekly unemployment initial claims, stock prices, manufacturing new orders (consumer goods) and index of consumer expectations. Of these, it should be noted that the stock prices are lower than at any other point this year except for July. Average weekly unemployment initial claims rising is a negative component, so a rise will reduce the leading indicators index. Manufacturing orders represented a slight increase but is well down for the year. Therefore, only consumer expectations made a…
academic research on this topic, present a causal argument, identify key variables, operationalize these variables, identify between 2 and 3 research hypotheses, specify and justify the relevant research method to test the given hypotheses, address possible obstacles or problems this research might confront and how to overcome these, and a correctly formatted and relevant 10 source bibliography.
Youth unemployment in Armenia.
Youth unemployment rates in Armenia are at an all-time high, but what is leading to its increase? Unemployment rates in countries are defined by individuals who are currently jobless but are seeking active employment within the last four weeks (Bureau of Labor Statistics, 2009). It is particularly interesting to see such a high youth unemployment rate because statistics show that the general unemployment rate within adults in Armenia has decreased from 7.1% in 2007 to 5.9% in 2011 (Index Mundi, 2012) yet unemployment amongst the youth contuse unabated and…
West BankWorldBank. Org. (2010)WorldBank. Org. (2010)
(CIA (2012) World Factbook Snapshot of Global Youth Challenges https://www.cia.gov/news-information/featured-story-archive/2012-featured-story-archive/snapshot-of-global-youth-challenges.html )
While it is true that jobs generated by 'clean up' needs can compensate for the loss of jobs, the Bureau's figures and the Social Security administration's figures still count workers held on payrolls. These workers are counted as employed, even if they cannot do their jobs, and may have relocated to another area of the country as a result of the storm -- and are likely to have their position terminated soon.
This is a tumultuous time for unemployment data, as Katrina's effects upon the economy are still uncertain, and have yet to 'play themselves out,' particularly given the massive relocation of human resources that occurred after the storm.
Bureau of Labor and Statistics (2005) retrieved on September 15, 2005 from http://www.bls.gov/news.release/ecopro.nr0.htm
Congressional Budget Office (2005) retrieved on September 16, 2005 from http://www.cbo.gov/showdoc.cfmindex=1824& sequence=0
The Social Security Administration (2005) retrieved on September 15, 2005 from http://www.ssa.gov/OACT/T/T05/V_economic.html#wp163836
Causes of Unemployment and of Crime
The primary causes of the national unemployment rate and of a number of statistics that are involved with the rate of crime in the United States can be attributed to federal initiatives -- or the lack of such nationally-based measures -- that play a significant influence on these two highly valued concerns of American citizens. This statement certainly holds true for the national unemployment rate, which has consistently been above 8% for the past 29 months (and which is the longest streak of this sort since the Great Depression in the 1930s) (Associated Press, 2011). Due to what has widely been attributed to a global recession, the United States economy has been attempting to rise from a state of perceivable low status (in which its currency, the dollar, has been continually devalued, particularly in comparison to other international currency, such as the Euro). The…
Associated Press. (2011). "National Unemployment Rate Climbs to 9.2%." Retrieved from http://www.nj.com/news/index.ssf/2011/07/national_unemployment_rate_cli.htmlW
Haq, H. (2010). "U.S. Crime Rate is Down: Six Key Reasons." The Christian Science Monitor. Retrieved from http://www.csmonitor.com/USA/2010/0524/U.S.-crime-rate-is-down-six-key-reasons
Federal Funds Rate
The federal fund rate was part of the solution, comprised in the Federal Reserve Act of 1913, to centralize the banking system and gain public control of the money supply, inflation, and economic growth. The banking crisis of 1907 was a result of decentralized, unregulated banking that caused confusion with private bank notes being used as currency. There were occasional episodes of monetary mismanagement where the money supply was not appropriate to fulfill the needs of the economy. Too much money caused rapid inflation where too little money stunted economic growth by hindering production and the exchange of goods and services. There were no nationally consistent banking policies and no one entity had control to implement policies until the Federal Reserve Act of 1913 became a national law.
The Federal Reserve System was created with the Federal Reserve Act of 1913 with a oard of Governors to…
Amadeo, K. About.com U.S. Economy. 24 Jan 2012. Article. 14 Aug 2012.
Bankrate.com. How the federal funds rate affects finance. n.d. article. 15 Aug 2012.
Bofah, K. What Effect does the Fed Fund Rate Have on Stock Prices. n.d. Article. 15 Aug 2012.
Madrick, J. "Paul Volcker, Jimmy Carter, and Ronald Reagan." Madrick, J. Age of Greed. New York, NY: Alfred A. Knopf, 2011. 160-176. Book.
The lack of construction jobs means that people do not have enough money to buy other items, and this hurts other businesses, who must also lay off their workers. Unemployment, although it is entrenched in the construction industry, has been spiraling out of control in all sectors, in Oregon. "Thousands more of the unemployed will exhaust their jobless benefits in coming months…This region, and others like it around the state and nation, face the prospect of growing hunger and homelessness this winter as our neighbors run out of benefits and lose their ability to provide food and shelter for their families" wrote ead in the Oregonian (ead 2010).
"Nationally in terms of monetary policy, the Federal eserve appears ready to act…quantitative easing" or steps to increase the money supply seem likely in the near future (ead 2010). When the Fed wishes to expand the money supply, it expands its purchase…
Hauser, Christine. (2010, July 21). Home construction decline. The New York Times. Retrieved November 13, 2010 at http://www.nytimes.com/2010/07/21/business/economy/21econ.html
Hooson, Paul. (2009, April 15). Oregon's unemployment rate soars to the worst in the nation.
Wiz Bang blue. Retrieved November 13, 2010 at http://wizbangblue.com/2009/04/15/oregons-unemployment-soars-to-the-worst-in-the-nation.php
Manning, Jeff. (2001, October 19). Intel announcement promises thousands of jobs in Hillsboro.
In order to understand this idea about inventories, it is necessary to understand that if the prices were to change and not be rigid, then it would be the prices and not the inventories that would guide companies in their decisions about production. For example, if prices were increasing, a company would know that their product is popular and that they should increase the production of it. And if the prices were decreasing, the company would know that their product is not selling well and that they should probably reduce its production. In an economy though where the prices are fixed, companies need another way of deciding whether they should increase or decrease production. This is where Keynes came to the conclusion that the key is to observe the changes in the inventories in order to drive production (hat Causes a Recession to be a Recession, n.d.).
Harrison, Edward. "Chart of the Day: Unemployment as a Recession Indicator." 2008. Credit
Writedowns. 7 April 2009
Reddy, Sudeep. "Jobless Rate Hits 8.5%." The Wall street Journal. April 2009
Defense of the Fed's New Interest-ate Policy, which was published by The Wall Street Journal on January 6th, 2013, financial reporters Frederic S. Mishkin and Michael Woodford carefully craft a justification of the Federal eserve's latest revision to its federal-funds rate target. The purpose of the article is to inform readers about the Fed's recent Federal Open Market Committee (FOMC), which resulted in the decision to keep the federal-funds rate near zero with a contingency based on the national unemployment and inflation rates. By linking the federal-funds rate target to a baseline of 6.5% unemployment, and a predicted rate of 2.5% inflation, while also providing public notice regarding its previously private policy criteria, the Fed is renewing its efforts to stabilize an economy battered by a prolonged recession. As Mishkin and Woodford state in the article, this "commitment not to raise rates in the future as soon as might have…
Mishkin, F.S., & Woodford, M. (2013, January 06). In defense of the fed's new interest-rate policy. The Wall Street Journal. Retrieved from http://online.wsj.com/article/SB10001424127887324274404578211832381399400.html
Yoon, A. (2013, January 28). Private mortgage market gains momentum after the crisis. The Wall Street Journal. Retrieved from http://online.wsj.com/article/BT-CO-20130128 - 711413.html
Marie Jahoda said that employment is a social institution with objective consequences that occur for all effected by it, overriding individual differences in feelings, thoughts, motivation and purpose (Fryer, 1995). Some of these, like earning a living, are intended or manifest. Others are unintended or latent.
According to Jahoda (Fryer, 1995): " employment makes the following categories of experience inevitable: it imposes a time structure on the waking day; it compels contacts and shared experiences with others outside the nuclear family; it demonstrates that there are goals and purposes which are beyond the scope of an individual but require a collectivity; it imposes status and social identity through the division of labour in modern employment; it enforces activity..."
For many people, the stress of being unemployed is devastating (Woolston, 2002). A recent study of more than 500,000 people in Great ritain revealed that people who said they were unemployed in…
Fryer, D. (September, 1995). Unemployment: A Mental Health issue. The Jobs Letter No.24.
Warr, PB. (1983). Self-esteem and unemployment among young workers. Le Travail Human. pg 46,355-366.
Wikipedia. (2004). Unemployment. Retrieved from the Internet at http://encyclopedia.laborlawtalk.com/Unemployment.
Woolston, Chris. (2002). Why Unemployment Is Bad for Your Health. The Principal Financial Group.
Work and Unemployment
Sociology of the Workplace
What does work mean? How do we define work? Does unpaid labor = work?
Now imagine you have just won the lottery (millions!) and financially do not need to collect a pay check. Describe your decision to either continue to work or not work and what work means to you.
In some ways, it could be said that 'work' is primarily defined by its compulsory nature. People work because they must earn a paycheck. Someone with a trust fund does not have to work. He or she might volunteer to work for a charity or elect to play golf for many hours a day, 'working' hard at these endeavors. But this is usually not defined as 'work' because these are not paid positions. The dividing line between work and a hobby is usually cast in monetary terms -- someone…
Jeffrey, Terrence (2011). Unemployment actually 10.2%. CS News. Retrieved:
Unemployment across the United States. (2009). Econompic Data. Retrieved:
Reaching out to Address the Needs of NEET (Not in Employment, Education or Training) Adolescents
This paper will provide an overview of the phenomenon of youth unemployment and measures to address it. Coping with the needs of NEET (Not in Employment, Education, or Training) adolescents requires the use of a variety of interventions, spanning from more effective solutions to address truancy; social support for disaffected youths and their parents; and creating a more effective job preparation curriculum within the educational system.
Categories of NEET adolescents
Truancy and NEET
Programs to Address the NEET Problem
This paper will provide an overview of the problem of disaffected and unemployed youth and the various programs and methods that have arisen to address this issue. Recent economic instability has increased the number of young people not in employment, education or training (NEET), despite longstanding attempts to rectify this problem within the United…
Beggs, J. 2015. Types of unemployment. Available from:
[4 Jan 2016]
Boffey, D. 2015. Youth unemployment rate is worst for 20 years, compared with overall figure.
The concept of the business cycle is that the rate of growth in an economy will shift over time, but in a more or less repeatable pattern. The structure of the pattern is, roughly, that economies will grow quickly, then a turning point will occur and the economy will turn into recession. After a trough, the business cycle will begin anew with a fresh period of growth.
For most Western economies, characterized by rising populations, intensive resource exploitation and continuous technological improvements, are on a long-run growth trend in their GDP. The business cycle should be identifiable outside of that trend. The degree of influence between business cycles and the trend is subject to debate. For example, in the United States the recession of 2008-2009 is believed by some to have permanently set the country's growth trajectory below where the previous trendline was -- so the business cycle will have…
Poverty & Unemployment
Poverty and unemployment are unquestionably two of the primary scourges that afflict the United States as well as other countries around the world. There are strong ways in which they correlate but they do run the gamut from recessions, offshoring of jobs, industry and employment shifts in the country and so forth. This brief report will explore the links that exist, what is being done about them, what is working and what is not. Even though a sliver of the population will always be unemployed and/or impoverished, it is no less painful to notice and watch when it happens.
The first point to be made about both poverty and unemployment is that there is always going to be at least some of both in the United States. However, the hope is that it is always temporary rather than ongoing and perpetual. Even so, there is a reason…
CBS. (2013). 80% of U.S. adults face near-poverty, unemployment, survey finds. Cbsnews.com. Retrieved 28 July 2016, from http://www.cbsnews.com/news/80-percent-of-us-adults-face-near-poverty-unemployment-survey-finds/
Clemens, J. & Wither, M. (2014). The Minimum Wage and the Great Recession: Evidence of Effects on the Employment and Income Trajectories of Low-Skilled Workers. http://dx.doi.org/10.3386/w20724
Investopedia. (2016). Full Employment Definition -- Investopedia. Investopedia. Retrieved 28 July 2016, from http://www.investopedia.com /terms/f/fullemployment.asp
Le Tellier, A. (2013). The human side of poverty: Why poor people make bad decisions. latimes.com. Retrieved 28 July 2016, from http://www.latimes.com/opinion/opinion-la/la-ol-why-poor-people-make-bad-decisions-20131125-story.html
Suitability for International Business Positions
In today's global society, the need for effective and suitable people in international business positions is greater than ever before, with instantaneous communication with countries around the world now the standard and with shipping and transportation between these countries now measured in days or even hours instead of weeks and months. The increasing confluence of different cultures and the increasing pace of business lead to the definition of certain qualities that individuals in international business positions must hold if they are to be truly suitable for these jobs. One of these qualities is the ability to communicate with very diverse groups of people and individuals that hold different values and beliefs in a direct, comfortable, and effective manner. People who have the ability to see things from different perspectives and to not only tolerate but to truly see the benefits of the beliefs and values…
Of the three types of unemployment that exist, both structural and cyclical unemployment are likely to be major problems for Chevron. Cyclical unemployment and its effects on the auto manufacturing industry can perhaps be understood in the simplest and most direct manner; when a recession hits and GDP growth is slow (or even negative), unemployment rates rise -- there are less consumer dollars to support the continuing growth of products and services being offered. In the energy industry, recessions tend mean a slow down in business and consumer activities and thus a decrease in the demand for energy. This also leads to a decrease in the demand for energy technologies, though perhaps not as directly. Structural unemployment occurs when there is simply a decrease in demand for employees in a given industry. This has also occurred for Chevron to some degree, as technological advancements and the automation of many…
United States has the highest rate of confinement of prisoners per 100,000 population than any other Western country. Analyze this phenomena and discuss actions that you feel are necessary to combat this problem.
The United States currently has the highest incarceration rate of any nation worldwide. For example, greater than 60% of nations have incarceration rates below 150 per 100,000 people (Walmsley, 2003). The United States makes up just about five percent of the world's population and yet it houses 25% of the world's prison population (Walmsley, 2009). In 2008 there were more than 2.3 million people held in United States prisons and jails, a rate of approximately 754 inmates per 100,000 people (Sabol, West, & Cooper, 2009). So if we only count adults in the population that translates into a one in 100 American adults is locked up. ussia is the only other major industrialized nation that comes close…
American Psychiatric Association (APA, 2002). Diagnostic and statistical manual of mental disorders (4th Ed.). Arlington, VA: Author.
Breggin, P.A. (2008). Brian disabling treatments in psychiatry: Drugs, electroshock, and the psychopharmaceutical complex. (2nd Edition) New York: Springer University
Burton, R. (2002). The Irish institute of nutrition and health. In Diet and criminality.
Nuke Waste Site
The author of this report has been ask to consider the test case of an Indian reservation in Northern Colorado that is considering taking on a nuclear disposal site from a corporation in the name of giving jobs to some of their men and women. This is certainly not irrelevant given that nearly two thirds of the people on the reservation are unemployed. Many of the tribal members are on board with the plan due to the jobs it would bring while many others are against it due to the potential short- and long-term effects the presence of the site would have. The author of this report has been asked to consider and discuss the social, safety, economical and environmental aspects of the possibility at hand and whether accepting the plan of the corporation is prudent. While the acceptance of this waste plant would be a good…
EPA. (2016). Hazardous Waste Trasportation -- Wastes -- U.S. EPA. Www3.epa.gov. Retrieved 6 February 2016, from http://www3.epa.gov/epawaste/hazard/transportation/
Tann, S., & Yanow, J. (2007). TRIADD: THE RISK FOR ALCOHOL ABUSE, DEPRESSION, AND DIABETES MULTIMORBIDITY IN THE AMERICAN INDIAN AND ALASKA NATIVE POPULATION. American Indian & Alaska Native Mental Health Research (Online), 14(1), 1. Retrieved from http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3040496/
Evidence-Based Practice Project: educing ate of Psychiatric eadmission
The purpose of the evidence-based practice project is to examine ways to eliminate psychiatric readmissions. More specifically, literature is reviewed to examine evidence supporting the effectiveness of care transition interventions in preventing re-hospitalization amongst adult patients with severe mental illness. In this chapter, the search process is first described. Next, the identified literature is summarized and synthesized, clearly evaluating the relevance of the literature to the specified PICOT question.
Literature for the review was searched in CINAHL, PubMed, EBSCO, ProQuest, and Google Scholar databases using the following phrases: psychiatric readmission, re-hospitalization, care transition interventions, transitional care interventions, and reducing readmission in adults with mental illness. Focus was particularly on literature published in English. From the first round of search, it was quite evident that not much scholarly attention has been given to the topic as the search returned less than…
Allen, J., Hutchinson, A., Brown, R., & Livingston, P. (2014). Quality care outcomes following transitional care interventions for older people from hospital to home: a systematic review. BMC Health Services, 14: 346.
Gaynes, B., Brown, C., Lux, L., et al. (2015). Management strategies to reduce psychiatric readmissions. Technical Brief No. 21. Rockville, Maryland: Agency for Healthcare Research and Quality, U.S. Department of Health and Human Services.
Kalseth, J., Lassemo, E., Wahlbeck, K., Haaramo, P., & Magnussen, J. (2016). Psychiatric readmissions and their association with environmental and health system characteristics. BMC Psychiatry, 16: 376.
Pincus, H. (2015). Care transition interventions to reduce psychiatric re-hospitalizations. Technical Brief. Alexandria, Virginia: National Association of State Mental Health Program Directors (NASMHPD).
Education and Fertility ates
Fertility and Educational Attainment
Women around the world are starting to become more empowered through higher education attainment levels. Millions of women are now finding more educational opportunities at their fingertips, which empower them as well as the economic capacity of their respective nations. Yet, education also has an impact on fertility rates; as education levels rise, fertility rates tend to decrease. Nations with higher education expectations thus tend to have women with decreased fertility rates and who tend to have children at much older age groups than in nations where there are less educational opportunities for women.
Education is a major factor of improving a woman's quality of life. At the same time, education also impacts the rate at which women give birth. The research suggests that "educational attainment has long been considered the most important measure of socioeconomic status in describing fertility differentials" (Center…
Centers for Disease Control and Prevention. (1994). Birth and fertility rates by educational attainment: United States, 1994. Monthly Vital Statistics Report, 45(10). Web. http://www.cdc.gov/nchs/data/mvsr/supp/mv45_10s.pdf
Central Intelligence Agency. (2013). The World Factbook. Web. https://www.cia.gov/library/publications/the-world-factbook/fields/2127.html
Gupta, Deepti & Gupta, Navneet. (2012). Higher education in India: Structure, statistics, and challenges. Journal of Education and Practice, 3(2), 17-26.
International Human Development Indicators. (2013). Chad: Country profile. Countries. Web. http://hdrstats.undp.org/en/countries/profiles/TCD.html
It is measured as the annual percentage increase in prices and the most often quoted figure is the annual change. The prices inflation usually measures are retail prices. Unemployment is one of many factors that impact inflation. Typically, unemployment and inflation are opposites except in instances of stagflation where these two variables rise together. If unemployment goes too high, inflation goes down, because high unemployment drives wages downwards. Price decreases follow because goods are being produced so economically that prices can fall and producers can still make a profit. This generally happens after major productivity enhancements as Nussbaum points out in his article.
Unfortunately, factors other than productivity such as higher energy and commodity costs are having a significant impact on inflation (Kirchhoff and Hansen, 2004). The median forecast is for the consumer price index to rise three percent in the twelve months ending in September 2004 and 3.1% in…
Inflation - explanation. Retrieved October 17, 2004 from Web site: http://www.bized.ac.uk/virtual/economy/policy/outcomes/inflation/inflex.htm
Kirchhoff, S. And Hansen, B. (2004, August 22). Economists dial back growth forecasts. USA Today.
Retrieved October 17, 2004 from Web site: http://www.usatoday.com/money/economy/2004-08-22-econ-survey_x.htm
Nussbaum, B. (2004, March 22). Where are the jobs? Business Week. Retrieved October 17, 2004 from Web site: http://www.businessweek.com/magazine/content/04_12/b3875601.htm
The likely effects of increasing productivity on equilibrium GDP will be an increase in the sum total of the Gross Domestic Product. Improving technology and subsequently reducing output costs as a result is likely to decrease the risk of inflation in the short run, just as during the 1970s, increasing the input costs of oil resulted in increased inflation. However, if the economy continues to overheat, as producers produce more goods, employ more workers, and workers spend more of their salaries on more and more goods, inflation may be a concern in the long-term. This is especially true, given the currently high levels of unemployment, which means many people are unemployed and many workers have not gotten raises recently, thus they may spend a great deal if prices go down in the short run and their…
he globalization of poverty has indeed occurred during a period of rapid technological and scientific advance. While the latter has contributed to a vast increase in the potential capacity of the economic system to produce necessary goods and services, expanded levels of productivity have not translated into a corresponding reduction in levels of global poverty." (Chossudovsky, 1998)
he ability of corporations to easily pick up and move into cheaper labor havens throughout the hird World has actually led to more downsizing, corporate restructurings and the relocations of whole companies which has led to higher levels of unemployment and lower earnings throughout the urban communities and the rural farm. Unemployment was at one time localized in small segments but it has now become an international problem. "We live in a world so rich that global income is more than $31 trillion a year. In this world, the average person in some…
The objective of fighting poverty and improving the overall living standards of those individuals in the Third World and the newly emerging nations has become huge undertaking. One would think that the world would be getting richer based on the advances in technology and the many new economic opportunities in the global economy. "The global decline in living standards is not the result of a scarcity of productive resources as in preceding historical periods. The globalization of poverty has indeed occurred during a period of rapid technological and scientific advance. While the latter has contributed to a vast increase in the potential capacity of the economic system to produce necessary goods and services, expanded levels of productivity have not translated into a corresponding reduction in levels of global poverty." (Chossudovsky, 1998)
The ability of corporations to easily pick up and move into cheaper labor havens throughout the Third World has actually led to more downsizing, corporate restructurings and the relocations of whole companies which has led to higher levels of unemployment and lower earnings throughout the urban communities and the rural farm. Unemployment was at one time localized in small segments but it has now become an international problem. "We live in a world so rich that global income is more than $31 trillion a year. In this world, the average person in some countries earns more than $40,000 a year. But in this same world, 2.8 billion people -- more than half the people in developing countries -- live on less than $700 a year. Of these, 1.2 billion earn less than $1 a day." (Chossudovsky, 1998)
The World Bank is not a bank in the true sense of what the average person would consider a bank. The World Bank has more or less become a specialized poverty focused social and financial assistance program or agency. The World Bank falls under the jurisdiction of the United Nations and is one of their more specialized agencies. The World Bank consists of one hundred eighty four nations currently who are jointly responsible for the oversight of the institution and
ising U.S. Crime ate
Crime in the United States
Crime in the United States took a sharp uptick starting in the middle of the 20th century but has actually leveled off since then, at least for the most part. However, even with the moderation in crime, especially in larger cities that have traditionally been problematic, crime in some cities is still alarmingly high and there are some cultural and social trends that are becoming more and more prevalent and, by extension, more commonly talked about as well. This essay will explore a couple of the more notorious examples of this in motion.
One study conducted for this research noted that predicting the crime rate at any given point in time can be exceedingly maddening to predict because of how a single happenstance or course of events can have a massive effect on the overall rates. The study uses…
Burdett, K., Lagos, R., & Wright, R. (2003). Crime, Inequality, and Unemployment.
American Economic Review, 93(5), 1764-1777.
Carrington, K. (2006). Does Feminism Spoil Girls? Explanations for Official Rises in Female Delinquency. Australian & New Zealand Journal Of Criminology
(Australian Academic Press), 39(1), 34-53.
Guyana -- Inflation ate
Inflation rate is an important concern to assess the economic condition of any country. This report focuses on the inflation rate of the South American country, Guyana.
The economy of Guyana mainly depends upon the production of rice, sugar, shrimp, fresh fruits, vegetables and fish. The important industries of Guyana include mining of diamond, gold and bauxite, manufacturing of pharmaceuticals, footwear, clothing, beverage and foodstuff processing.
In Guyana, inflation rate is measured through consumer price index. It is normally used by the Government, international organizations and public members and trade unions to assess the ratio of increase in prices or inflation. Data is collected monthly however it is published quarterly.
Since consumer price index measures the changes in prices of the consumer goods and services i.e. fixed basket of goods but not include capital goods. There are 9 main categories of fixed basket of goods…
(2007). Measuring Inflation in Guyana. Georgetown: The Private Sector Commission of Guyana Ltd.
(2010). Annual Report 2010. Georgetown: Bank of Guyana.
Co-operative Republic of Guyana. (2011, April 4). Retrieved from U.S. Department of State: http://www.state.gov/r/pa/ei/bgn/1984.htm
(2011). Quarterly Report & Bulletin. Bank of Guyana.
Fed aises Key ate Again"(Henderson, 2005), which appeared in The Washington Post, outlines the reasons Federal eserve officials recently implemented a short-term interest rate increase. The current federal funds rate stands at 4%, the highest level since 2001, and reflects a quarter percent increase. Furthermore, this raise is the twelfth consecutive one since June 2004 (Henderson, 2005) and is, as Federal eserve officers note, only one in a series of anticipated increases. The next raise is likely to take place at the end of January 2006, bringing the federal funds rate to 4.5%. However, certain analysts expect increases in December. Some specialists claim a projected rate of 5.5% by July of next year, which they say will conclude the cycle of increases. Naturally, with Greenspan retiring at the end of January, the proposed raises are speculative as Bernanke has yet to demonstrate his intentions as the future Federal eserve Chairman.…
BBC News (2005, Nov.1). 'Fed Raises U.S. Interest Rate to 4%'. BBC News.
Henderson, Nell (2005, Nov. 1). 'Fed Raises Key Rate Again'. The Washington
African-Americans have experienced higher rates of recidivism in contrast with other segments of the population. Evidence of this can be seen with a study conducted by the U.S. Justice Department. They found that those individuals in this demographic and between the ages 18 to 35 have a 32% chance of being incarcerated. Once they are released from prison or placed on probation, the odds of them committing another crime are double in contrast with other population groups. (Kury, 2011) To fully understand why this is occurring requires examining the root causes of the problem. This will be accomplished by conducting a literature review on the subject. These findings will illustrate the primary causes as to why this segment has higher recidivism rates.
The target population is focusing on African-Americans from ages 18 to 35. This study will examine how the lack of education, substance dependency and criminal history are influencing…
Andrews, D. (2010). Rehabilitating Criminal Justice Policy. Psychology, Public Policy and Law, 16 (1), pp. 39 -- 55.
Bellair, P. (2011). Low Skill Employment Opportunities. Journal of Research in Crime and Delinquency, 48 (2), pp.
176 -- 208.
Kury, H. (2011). Punitivity. Munich: Borckmeyer.
Personal Bankruptcy Filings Rates (All Counties)
Total Housing Permits
Unemployment rate: one would expect the correlation coefficient between the unemployment rate and the demand for bank loans to be negative. This would show an inverse relationship whereby an increase in the unemployment rate will lead to a decrease in the demand for bank loans. The economic explanation for this would be that as the unemployment rate rises, aggregate income decreases and fewer individuals are able to afford a bank loan.
bankruptcy rate: on the same logical path, bankruptcy rate and demand for bank loans will move in different directions: as the bankruptcy rate increases, the demand for bank loans decreases, because more people have declared bankruptcy and no longer have the necessary income to apply and obtain bank loans. Thus, demand for bank loans will fall.
c. growth rate in housing permits: one would expect the correlation coefficient…
Employer's Attitude: Their Perception And Awareness About Disability
Organizations have a lot to gain from employing people with disabilities, as that improves the perception of the masses and clients alike as being sensitive, reasonable, and conscientious. The team has to be led from the front in this regard by the employers: the heads of the organization (Siperstein, omano, Mohler, & Parker, 2005). The growing demand for labor supply in the 21st century cannot be ignored any longer. The labor market is getting tighter with the supply diminishing owing to many factors (Copeland, 2007). Employers have to consider the fact that employing people with disabilities is not simply a good business and economic decision; it is also a way of building up the reputation of their organization.
The facts point to a scenario where the population growth will be slower than at any previous time. The couple of decades to follow…
Braddock, D., & Bachelder, L. (1994, February 24). The Glass Ceiling and Persons With Disabilities. Federal Publications. Retrieved from http://digitalcommons.ilr.cornell.edu/key_workplace
Bullock, R., Jr. (1993, February). Tax provisions of the Americans with Disabilities Act. (Federal Taxation) [online journal]. Retrieved May 23, 2015, from http://www.cpajournal.com/old/13808661.htm
Conlin, M. (2000, March 20). The New Workforce. Businessweek Online. Retrieved from http://www.businessweek.com/2000/00_12/b3673022.htm
Cook, J.A., & Burke, J. (2002). Public policy and employment of people with disabilities: exploring new paradigms. Behavioral Sciences & the Law, 20(6), 541 -- 557. http://doi.org/10.1002/bsl.515
U.S. ECONOMIC PEFOMANCES IN THE PAST 5 YEAS
U.S Economic Performance in the past 5 years
Major indicator of healthy state of an economy is the real Gross Domestic Product (GDP) growth rate. The GDP growth rate reveals the performances of an economy. United States is one of the richest country in the world and "has the largest gross domestic product (GDP) in the world." (Jabir, 2009 P. 3171). The country total GDP in 2010 was $14.5 trillion. (World Bank, 2012). Since 2006, the U.S. GDP has continued to fluctuate. Between 2006 and 2007, the U.S. enjoyed the growth in the GDP. In 2006, the country recorded 2.70% point of annual rate in the GDP, and in 2007, the country GDP slightly declined to 1.9%. While the U.S. demonstrated health growth rate between 2006 and 2007, the country recorded negative growth in the GDP between 2008 and 2009. In 2008,…
Bureau of Economic Analysis (2011). Contributions to Percent Change in Real Gross Domestic Product. USA.
Congress Budget Office (2012). The Budget and Economic Outlook: Fiscal Years 2012-2022. Congress of the United States.
Congressional Budget Office (2011).Budget and Economic Outlook: Fiscal Years 2010-2021. Government Printing Office. USA.
Economic Intelligent Unit (2011). Country Report, United States of America. The Economist Intelligence Unit Limited.
Fiscal and Monetary Policy and Economic Fluctuations
The global economy was relatively doing fine more than five years ago before it was hit by economic downturn or recession. During this period, the American economy was at its peak, particularly in the fourth quarter of 2007. However, this was followed by a mild recession at the beginning of 2008, which eventually turned into a severe credit crisis across the world approximately one year later. While only a few countries escaped the economic recession, virtually no country could avoid the severe bear markets in stock (Norris, 2012). Some countries like the United States experienced changes in gross domestic product and stock markets. Since it has the best record of the main developed countries, the United States was severely affected by the recession. As the economic downturn came to end, America started the process of recovery from the effects of the recession. This…
Davidson, P. (2013, September 11). Economy is Still Bruised Five Years After Crisis. USA
Today. Retrieved November 24, 2013, from http://www.usatoday.com/story/money/business/2013/09/10/economy-2008-financial-crisis-lehman/2789841/
Klimasinska, K. & Chandra, S. (2013, August 27). America Resilient Five Years After Great
Recession. Bloomberg. Retrieved November 24, 2013, from http://www.bloomberg.com/news/2013-08-27/america-resilient-five-years-after-great-recession.html
employer, Acme Inc., a medium sized industrial company, has conducted a trengths, Weaknesses, Opportunities, and Threats (WOT) Analysis and has determined the strategic goals and objectives for the organization. One of the opportunities identified from the WOT was the current economy and the high unemployment rate. In addition, a strategic goal was established as a result of the WOT for Acme Inc. To maintain status quo on recruiting and focus specifically on retention (keeping Acme's best employees).
imulation: As the HRM for Acme Inc. And based upon the situation, describe how you would develop a "Compensation Plan" for this organization. Discuss how your plan would align and be effective with the above mentioned strategic goal. In addition, discuss how you would control the costs associated with your compensation and benefits plan.
In the form of an abstract, clearly state the issue or problem.
a. Express the problem in multiple ways…
Martocchio, J.J. (2011). Employee benefits: A primer for human resource professionals. New York, NY: McGraw-Hill/Irwin.
Rugaber, C (2010) Job competition toughest since recession began. USA Today. http://usatoday30.usatoday.com/money/topstories/2009-10-09-2283852466_x.htm
Economics - Country Analysis
Country Overview and Current Events (News)
Ethiopia, traditionally known as Abyssinia, is a landlocked Sub-Saharan country located at the Horn of Africa in East Africa, bordering Somalia, Kenya, Eritrea, Djibouti, Sudan, and the newly-created South Sudan. It covers approximately 1,126,829km2 of land; about the size of the state of Texas, and was, until the split of Sudan, the second-largest country in Africa. Being landlocked, Ethiopia largely relies on the port of Djibouti, to which it is connected by both rail and road. Economic elements such as this, together with the country's history, population, geography and economic performance have been explored in the subsequent sections of this text.
Population: the U.S. Census Bureau, in June 2013, estimated Ethiopia's population to be 93,877,025; a figure that makes the country the second-most populous in Africa, after Nigeria (orld Bank, Index Mundi). Ethiopia's population has been on a steady increase…
AFDB. "Inflation Dynamics in Selected East African Countries: Ethiopia, Kenya, Tanzania and Uganda." AFDB Brief, 2012. Web. 18 March 2014 http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/07022012Inflatin%20East%20Africa%20-%20ENG%20-%20Internal.pdf
This article analyses the trend in Ethiopia's inflation rates vis-a-vis those of other countries in the Sub-Saharan region and was a valuable source of regional statistics, which formed the main basis for comparison.
Broussar, Nzinga, and Tekleselassie Tsegay. "Youth Unemployment: Ethiopia; Country Study." International Growth Center, 2012. Web. 18 March 2014 http://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/07022012Inflation%20East%20Africa%20-%20ENG%20-%20Internal.pdf
This article analyzes the trend in Ethiopia's employment patterns. It reinforced my arguments that unemployment is more prevalent in urban Ethiopia, and that the country's informal sector contributes more to GDP than the formal sector.
A negative consequence, however, would be increased volatility in the value of the dollar. Imports would become more expensive as well, increasing inflation and potentially compelling the restructuring of the economy. Increased currency risk -- transaction and translation -- would also create difficulties for U.S. companies operating abroad. I do not support such a proposal. Attempts to jury-rig a global currency are as impractical as enforcing Esperanto as a global language. Such a currency would be inherently unstable, as the Euro example has shown us. The constituent communities would be committed to enforcing controls on each other in order to maintain the integrity of the currency. If at some point the currency of another economy overtakes that of the U.S., it will be because that economy is stronger, larger and more stable -- fundamental market forces -- rather than as the result of a political decision.
3. a) The Fed…
Google.com. (2010). Unemployment rate. U.S. Bureau of Labor Statistics. Retrieved April 23, 2010 from http://www.google.com/publicdata?ds=usunemployment&met=unemployment_rate&tdim=true&dl=en&hl=en&q=U.S.+unemployment+rate
U.S. Current Macroeconomic Situation:
Similar to the rest of the world, the macroeconomic conditions in the United States are currently fragile. This is mainly because the rate of unemployment is high though is slowly declining, the currency valuation is fluctuating up and down, and the European financial unrest has continued to have significant impacts on the nation's economy. These conditions are coupled by a slow increase in manufacturing and upward trend of the stock markets. As a result of these macroeconomic conditions, there are huge speculations that the United States Federal eserve will enforce more stimulus plans in attempts to boost the stalled recovery of the economy.
Macroeconomic Outlook for 2012:
The backbone of America's economic recovery since the end of recent recession has been private consumption. The U.S. economy accelerated in the fourth quarter of 2011 and continued its slow recovery in the first quarter of this year after…
Morris, K. (2010, October 7). Current Macroeconomic Situation. Retrieved October 18, 2012,
"U.S. Quarterly Macroeconomic Review -- Q1 2012." (2012, April 19). Macroeconomic
Quarterly. Retrieved October 18, 2012, from http://cebviews.com/uploads/2012/05/U.S.-Quarterly-Report-Q2_2012-FINAL.pdf
It was the smallest monthly jobs growth since August 2003, when only 2,000 jobs were added, according to revised figures from the Labor Department.
6. How does the current structure affect the threat of cost push inflation or deflation?
There are no inflationary or deflationary signs in recent reports.
7. What is the growth rate of GDP?
The current growth rate of the Gross Domestic Product (GDP), which is the output of goods and services produced by labor and property located in the United States, increased at an annual rate of 3.5% in the first quarter of 2005, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.8%. The major contributors to the increase in real GDP, in the first quarter were personal consumption expenditures, private inventory investment, exports, residential fixed investment, and equipment and software. Imports, which are subtracted from…
Bureau of economic analysis (2005). Retrieved June 19, 2005, from Bureau of Economic Analysis Web site: http://www.bea.doc.gov/bea/newsrel/gdpnewsrelease.htm
Bureau of labor statistics (2005). Retrieved June 18, 2005, from Bureau of Labor Statistics Web site:
Macroeconomic Situation in the U.S.: Corrective Fiscal and Monetary Policy
December 2007 marked the onset of the Great recession, which ended in mid-2009 but left the U.S. economy struggling through the damage wrought by its severity. Federal policy has gone a long way in the prevention of an occurrence of another recession, but growth remains too sluggish and inadequate for the full-health restoration of the economy. Vigorous and sustained fiscal and monetary support is needed if the economy is to recover and achieve the pre-depression employment level.
Save for the temporary hiring of census officials, the overall economy recorded a drastic fall in employment levels during the last half of 2009. In December 2012, the unemployment rate was reported at 8.1% - approximately 3.5 percentage points above the average rate in 2007, at the end of which the Great ecession struck (Bureau of Labor Statistics, 2014). This rate further exceeds…
Bureau of Labor Statistics. (2014). Labor Force Statistics from the Current Population Survey. Bureau of Labor Force Statistics. Retrieved from http://data.bls.gov/timeseries/LNS14
Council for Economic Education. (2013). Fiscal and Monetary Policy Process. Council for Economic Education. Retrieved from http://www.econedlink.org/lessons/index.php?lid=352&type=student
Greenlaw, G., Hamilton, J. Hooper, P. & Mishkin, F. (2013). Crunch Time: Fiscal Crises and the Role of Monetary Policy (No w19297). National Bureau of Economic Research.
US Inflation. (2013). U.S. Inflation Rate. U.S. Inflation. Retrieved from http://usinflation.org/us-inflation-rate/
Even students who return to graduate school to improve their qualifications after failing to find work might qualify as discouraged workers. This recession, which has affected the young and white-collar sectors more than recessions of the recent past, has created a larger proportion of individuals adopting such strategies. These workers using socially acceptable means to deal with unemployment but are still incurring debt while they are not making enough to support themselves, or are incurring more debt due to student loans that they will have to pay back eventually. The Bureau of Labor Statistics estimates that if all discouraged workers were counted, the unemployment rate would have been nearly 11% in August 2009 (Luo 2009). Depression, depending on the inadequate income of a spouse, and focusing on raising children or school than dealing with piles of rejection letters are all cited as reasons that workers simply give up (Luo 2009).…
Luo, Michael. (2009, September 7). Out of work and too down to search on. The New York
Times. Retrieved January 20, 2010 at http://www.nytimes.com/2009/09/07/us/07worker.html
Schenk, Robert. (2008, July). Weaknesses of the unemployment rate. Cyber economics.
Retrieved January 20, 2010 at http://ingrimayne.com/econ/Measuring/Unemployment2.html
For most of its existence, Saudi Arabia's economy has been driven by revenues from its massive oil fields. While this has allowed the country to have a healthy balance sheet, it has also discouraged investment in other areas. Other countries in the region have begun to realize that having an oil-dependent economy is not sustainable in the long run. Nations with burgeoning populations and limited resources tend to be unsustainable. That lack of sustainability can be seen today in milder forms, such as high unemployment among youth, social problems like abuse and deviant behaviour and stunted economic growth.
The facts concerning the Saudi economy reflect the structural issues in the Saudi economy. The country has a population of roughly 27 million, a third of whom are non-citizen immigrants. Nearly 50% of these are under the age of 25 and the median age is 26.4 years. This means that the…
Alamri, M. (2011). Higher education in Saudi Arabia. Journal of Higher Education, Theory and Practice. Vol. 11 (4) 88-91.
Alshahrani, S. & Alsadiq, A. (2014) Economic growth and government spending in Saudi Arabia: An empirical investigation. International Monetary Fund. Retrieved August 13, 2014 from https://www.imf.org/external/pubs/ft/wp/2014/wp1403.pdf
CIA World Factbook. (2014). Saudi Arabia. Central Intelligence Agency. Retrieved August 13, 2014 from https://www.cia.gov/library/publications/the-world-factbook/geos/sa.html
Fleischaker, C., Hu, M., Khandewal, P., McHugh, J., Qu, H. & Westelius, N. (2013). Saudi Arabia: Selected issues. International Monetary Fund. Retrieved August 13, 2014 from http://www.imf.org/external/pubs/ft/scr/2013/cr13230.pdf
Inflation remains low because of the seemingly unchanging rate of unemployment and income. In addition, the low inflation rate is associated with the slow economic activity during the winter months because of adverse weather conditions (Liu, 2014). One of the major reasons for the minimal changes in U.S. interest rates as compared to five years ago is the slow recovery in the housing sector. The housing sector continues to slowly recover from the effects of the 2008 global recession. This rate of recovery has had significant effects on the country economy as evident in the low interest rates.
Strategies to Encourage Consumer Spending:
The Federal eserve can use fiscal and monetary policy to develop strategies that will encourage people to spend money in order to stimulate economic growth. One of these strategies, which is a fiscal policy initiative, is government tax cuts that enhances the buying power of consumers. Tax…
Liu, H. (2014, April 28). Trading the U.S. FOMC Interest Rate Decision, April 30, 2014.
Retrieved April 28, 2014, from http://www.investing.com/analysis/trading-the-us-fomc-interest-rate-decision,-april-30,-2014-210865
Pettinger, T. (2012, May 18). Policies for Economic Growth. Retrieved April 28, 2014, from http://www.economicshelp.org/blog/5272/economics/policies-for-economic-growth/
Yellen. (2014, March 19). Transcript of Chair Yellen's Press Conference. Retrieved from The
economic situation in the United States is favorable compared with five years ago. Five years ago, it was late 2009 and in the depths of the Great ecession, so performing better than those levels is no great achievement. But as a point of comparison, all metrics are better today. The annualized rate of GDP increase in the third quarter of 2014 was 3.9%, down from 4.6% in the second quarter, according to the Bureau of Economic Analysis (2014). In 2009, the Q3 GDP was 1.7%, which is a low number, but at the time represented positive growth following three straight quarters of declines. Thus, technically, Q3 2009 was when we emerged from recession (Treasury, 2012). GDP growth in the interim has been uneven, but the past couple of quarters indicate healthy, manageable growth that should not lead to runaway inflation.
Unemployment, which is a lagging indicator, is 5.8% as of…
BEA. (2014). National income and product accounts, 3rd quarter 2014. Bureau of Economic Analysis. Retrieved November 25, 2014 from http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
BLS. (2014). Consumer Price Index Summary. Bureau of Labor Statistics. Retrieved November 25, 2014 from http://www.bls.gov /news.release/cpi.nr0.htm
BLS. (2014). Unemployment rate. Bureau of Labor Statistics. Retrieved November 25, 2014 from http://data.bls.gov/timeseries/LNS14
Board of Governors of the Federal Reserve System. (2013). Why does the Federal Reserve aim for 2% inflation over time? Board of Governors of the Federal Reserve System.
Evaluating the current state of the United States economy
Although many are of the opinion that the recession that the globe was forced into in 2008 is finally uplifting and signs of economic revival can be witnessed. The resulting high levels of debt and unemployment from the recession had dragged many countries, especially the United States in to a state of economic turmoil. In order to reverse the effect of such factors, the United States government has implemented strategic monetary and fiscal policies. These policies attempt to rejuvenate the economic position of the country by not only controlling the supply and demand via tax cuts but also through re-setting the interest rate level in accordance to the low level of disposable income available to the unemployed / lowly employed citizens of the United States can acquire loans to allow easy spending and repayment of the loan as well.…
CBO. (2012). Report: Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2011 Through December 2011. Washington D.C.: Congressional Budget Office.
FED. (2013, June). FED Federal Funds Rate, American central bank's interest rate. Retrieved from Global-rates.com: http://www.global-rates.com/interest-rates/central-banks/central-bank-america/fed-interest-rate.aspx
Labor, U.D. (2013, June). Databases, Tables & Calculators by Subject. Retrieved from Bureau of Labor Statistics: http://data.bls.gov/pdq/SurveyOutputServlet
Samuel, H. (2013, April 2). France says 75 per cent tax will apply to footballers. Retrieved from The Telegraph: http://www.telegraph.co.uk/news/worldnews/europe/france/9966692/France-says-75-per-cent-tax-will-apply-to-footballers.html
economic and financial crisis (2008-2009), the Federal Reserve took exceptional measures in order to combat the effects of the crisis on the American economy. These measures translated into an expansionary policy that included pumping money in the economy and purchasing assets that were in trouble. Through its expansionary work, the government was able to balance some of the effects of the crisis.
The question that seems to be on everybody's mind (and lips) today is where does it all end? One thing everyone can agree on is that this type of expansionary policy cannot last forever. The United States economy functions as a free market economy where the laws of supply and demand govern the realities of the market. A continuous and permanent intervention of the Federal Reserve is neither possible, nor healthy. What nobody can agree on, however, is when the expansionary approach should stop: now, in the near…
1. Krugman, Paul. The Conscience of a Liberal. The New York Times. November 2013. On the Internet at http://krugman.blogs.nytimes.com/2013/11/25/nowhere-near-the-exit/ . Last retrieved on December 13, 2013
2. Mankiw, Gregory. In Fed Policy, the Exit Music May Be Hard to Hear. The New York Times. November 2013. On the Internet at http://www.nytimes.com/2013/11/24/business/in-fed-policy-the-exit-music-may-be-hard-to-hear.html?_r=0 . Last retrieved on December 13, 2013
3. Spicer, Jonathan, Lange, Jason. Fed officials signal next policy battle: rate guidance. Global Post. On the Internet at http://www.globalpost.com/dispatch/news/thomson-reuters/131121/fed-officials-signal-next-policy-battle-rate-guidance . Last retrieved on December 13, 2013
4. Expansionary Policy. Investopedia. On the Internet at
Vice versa, a relaxation of credit operations through a reduction of the interest rates generates an increased purchasing power and an increased ability for the manufacturer to contract loans and further invest in his business.
2.6 Producer price index
The Producer Price Index, or the PPI, stands for "family of indexes that measures the average change in selling prices received by domestic producers of goods and services over time. PPIs measure price change from the perspective of the seller" (Investopedia, 2009). The evolution of the PPI has also been a fluctuating one, with a major ascendant trend:
Source: United States Department of Labor, 2009
Despite the past increase in producer price index, the future seems to hold decreases in its value:
The downward trend forecasted for the following 18 months means that the automobile producers in the United States receive less money for the sale of their products. Increases in…
Ford Motor Company, Hoovers, 2009, http://hoovers.com/ford-motor/--ID__10597,FRIC__ -- /free-co-competition.xhtml last accessed on May 8, 2009
Gross Domestic Product, U.S. Bureau of Economic Analysis, 2009, http://www.bea.gov/briefrm/gdp.htm last accessed on May 8, 2009
Interest Rate Trends, Mortgage-X, 2009, http://mortgage-x.com/trends.htm last accessed on May 8, 2009
Producer Price Indexes, United States Department of Labor, http://data.bls.gov/PDQ/servlet/SurveyOutputServlet-request_action=wh&graph_name=WP_ppibrief last accessed on May 8, 2009
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 recovery has been long, slow, and onerous. At present, unemployment is hovering around 7.9%. This reflects a slight increase from the last quarter. The U.S. seems to be in a precarious position, neither in full-blown recessionary mode but not entirely recovered. Of particular concern is the fact that "the increase [in unemployment] was much sharper for millennials, up from 11.5% the month before and 10.9% in November 2012" (Kingkade 2013). Young people were particularly hard-hit by the recession.…
Cassidy, John. (2012). Reagan, Bush, and Obama: We are still all Keynesians. The New Yorker.
Davidson, Paul. (2012). Fed ties interest rates to 6.5% unemployment. USA Today. Retrieved: