The problem of unemployment is one of the most serious long-term
economic problem challenges in the past decades. Unemployment is a
major cost to the economy not just in the terms of lost production,
but it also involves major, long-term social cost such as increased
inequality, poverty, family problems, crime and social division.
One of the major economic debates of recent decades has been what
should be done in order to reduce unemployment. There are major
differences of opinion among economists about both what has caused the
increasing level of unemployment during recent years, and what
policies that might be used to reduce unemployment in the years to
come. There are many explanations and arguments offered by economists,
including:
- Wage rates are too high
- Job losses are an inevitable result of new labour saving technologies.
- People do not have the opportunities for training and education.
- Economic growth is too low to generate adequate employment growth.
- Employees in developed countries cannot match the low paid people in developing countries.
- The labour market is over-regulated, which provides an incentive for employers not to hire.
- Many people are voluntary unemployed.
Governments all over the world struggle in order to achieve sustained
reduction in unemployment. A variety of strategies have been used over
the last two decades, with mixed success.
Unemployment is caused by a range of short and long-term factors:
The level of economic growth:Unemployment is closely related with the
overall level of economic growth. It is generally felt that
unemployment starts rising when growth is around 3% or lower. On the
other hand, when growth is around 4% or higher the level of
unemployment falls. Generally a change in the level of economic growth
takes a period of around six months to influence the level of
unemployment. the slowdown in economic growth between 1995 and 1997
contributed to unemployment drifting upwards in the 9% range, while
faster economic growth between1997 and 2000 brought it back down to
7%. The government has argued that to make significant progress on
unemployment, Australia must sustain annual economic growth of 4% or
more, indicating that unemployment unlikely to fall in 1999 - 00,
given its estimate of 3% growth in this period.
The stance of macroeconomic policies:The government's macroeconomic
policy settings can influence the level of unemployment in the short
to medium term, through their influence on the business cycle. Between
1992 and 1994 the Government had an expansionary macroeconomic policy,
with large budget deficits and low interest rates, which were intended
to boost economic activity and lower unemployment. the impact of these
policies was felt through a substantial lift in economic activity by
The Policies Used to Create Employment in Declining Areas in the United Kingdom This question means to state the government law used to make employment in areas in the UK that have no employment, reasons for this is because that area was declining. When an area is deteriorating or declining the people move out because there is no employment and they want a good quality of life. The British government have tried to encourage industries to locate to declining areas, Areas that have high unemployment i.e. Scotland, Birmingham and Leeds. When an area is declining the crime rates go up because of no employment. The government does not want this therefore they have introduced several government policies to try and prevent this from happening.
Oreopoulos, Phillip. “Why Do Skilled Immigrants Struggle in the Labour Market? A Field Experiment with Six thousand Résumés. May 2009
that make finding and holding a job difficult. A person in need of a job may be unable to afford a car,
For what has been a very, very long time, our elected representatives have sought to achieve “full employment” as a national goal….but full employment has been suspect as a possible cause of inflation, and is therefore weakened by decisions of the Federal Reserve, in an attempt to retard inflation. In terms of causes, unemployment has changed; the character, degree of severity, possible solutions of unemployment over the last ten years or so have been reduced, and has morphed in terms of just who is experiencing the unemployment and the suggestions for answering the problem. It has been the traditional fundamental trades, like manufacturing, viewed as part of the shift in the economy towards the new information age model, as workers transition from a manufacturing economy to a service economy, all the while over-coming the obstacles set forth by our own government.
The idea behind the welfare state was to relieve poverty, reduce inequality, and achieve greater
The employment policies have not kept up with changes in the economy, workforce, and the nature of work causing a severe financial impact
Completion of Employment System Review and ongoing exploration of additional barriers for specific designated groups
Because of this, many employees tend to leave when they have found a job with higher pay. This increases the training costs for their employees, as they tend to not stay for too long.
Analysis of the labor market in the economy reveals a reduction in vacancies while the number of job seekers significantly increases over the past few decades (Dickerson, 2008, p.1). Particularly, the youth employment looks worrying with a serious downward trend with so many of them unemployed. The numbers of free people who are full educated or trained have also decreased. The unemployed in the economy are either inactive or unemployed. The annual changes continue to show a rise in unemployment of young people both for student and others. With lack of government employment as well as training programs, many individuals opt to seek for self-employment (Dickerson, 2008, p.1). Statistic continues to show that there has been an increase of workless people in comparison to the vacancies available. The general picture, therefore, remains that labor market constantly fails to meet the needs of people regarding employment. Although this is the case, there has been some variation across regions with Scotland and Wales in the UK showing decreased performance. There remains a risk that employment will increase in the coming years. The present concern is long-term unemployment, specifically with regards to the youths who are most disadvantaged in the labor market (Dickerson, 2008, p.1).
• What issues must an employer consider when hiring workers? Please list the top 5 and a few bullet points explaining each. - Employees are entitled to receive written contracts of employment within 12 weeks after the date of the commencement of the employment. The contract should state the full names and addresses of the parties to the contract, the date on which employment under the contract began; the title of the job that the employee is employed to do; the place where the employee’s duties are to be performed; the wages which the employee is entitled to receive or the means by which they can be calculated, and in either case, the intervals at which they will be paid, and the deductions or other conditions to which they shall be subject;
The local labour market Whilst looking into the local labour market, I have decided to study some of the figures from the national statistics and look into how WPA would use them if they needed to recruit new employees both locally and nationally. Resident population and age The resident population of west Somerset, as measured in the 2001 census, was 35,075, of which 47 percent were male and 53 percent were female. The majority of the population in west Somerset are aged 30 to 59 with 38.3 percent of the population being in this age group. This is slightly less than the percentage of 41.5 percent in the age group of 30 to 59 in England and Wales.
Over the last several years, Ireland has experienced a dramatic change in employment. A quick study of the latest CSO “Employment and Unemployment” survey shows where jobs have been lost and gained, by sector of employment. Some sectors have seen job losses in the hundreds of thousands while other sectors have been slowly growing. The period from April 2007 to April 2013, there has been a loss of 266,000 jobs (CSO, 2013). The study suggests that the loss of jobs was greatest in the Construction and Industry sectors. While gains occurred in the Education, Information and Communications, and Human Health and Social Work sectors. These changes show that the tasks associated with low, skill and education are on the decline. The jobs that need a higher education level are on the rise (National Skills Bulletin, 2013, 28). Due to this trend, subsidies in the Education sector should be increased to train and better equip the workforce. It would be of a great benefit to the entire economy, as an increase in education may attract more business to Ireland. It would also make the workforce more adaptable to change, giving people stability in their lives.
Some people can’t get hired because they don’t have an education and they are not qualified to do the work required. Most companies call a person’s references and if they don’t have a good work record they are not likely to get hired. Employees will always hire the most qualified person based on their resume, or brief account of one’s education and professional experience.
While having the right skills for employment is imperative to obtaining a decent job. Displaying your job skills in America’s competitive job market can be challenging. One stigma can be perceived that long-term jobless people have been sitting around and not really wanting to work. (Daly, Hobijn, and Kwok 2015) Or the perception that they would not take a lower paying job, and if they do, they will leave as soon as they find a higher paying one. Some companies have clearly barred the underemployed or long-term unemployed from certa...
College in the United States is rapidly changing: more students are attending college, many are doing so online and at community colleges, which is making people question the cost of a traditional college education. It is my belief, along with three-fourths of entering freshman, that those students who are attending a traditional college are viewing college as an economic investment and that the reason to attend college is to get a good job (Bok 281). Part of that economic investment is meant for students to develop themselves. In my case I attended a tradition four year college to grow as a person and to give myself the best chance of getting a good job right out of college. A college education should provide a balance of personal exploration and job preparation because generally people are going to college to grow as a person and become prepared for the professional world.