This website uses cookies to ensure you have the best experience. Learn more

Current Economic Analysis

2019 words - 8 pages

Current Economic Analysis

Economics Define unemployment? Provide an example of the three types of unemployment. Which type of unemployment is most problematic and why? What type of unemployment problem(s) does the U.S. currently have and why? What is a possible solution to the unemployment problem(s)?
Unemployment is the failure of a person to find jobs. (Schiller, 2006) This means that an unemployed person is one that is capable of working and is actively seeking for a job but is unable to find employment, which means that, this person is an active member of the labor force in search for job opportunities but unable to find one. This excludes full time students and homemakers who are not vigorously looking for jobs. Unemployment can be divided into three types known as frictional, structural, and cyclical (Schiller, 2006).
The first form of unemployment is frictional unemployment. It arises because workers seeking better opportunities do not find them immediately. While looking for work they are counted as unemployed. The same concept is also applied to new graduate students that are looking for jobs.
Example: A website project for a company is finished and the web designer is looking for more companies to design websites for.
Structural unemployment is created during major changes in an economic system. Structural means that people don’t have the skills needed to find a job in today’s market.
Example: The move from an industrial to a technological economy where so many people don’t have computer and communication skills needed to be employable in the new market.
Cyclical unemployment is usually directly tied to the state of the economy. It occurs when there is not enough demand for labor. In other words, there are more people looking for jobs than they are available jobs at the market place. This type of unemployment exists due to inadequate effective aggregate demand.
Example of that would be a layoff and cutbacks resulting from a recessionary economic phase such as the current trend at the Florida school system where they are laying off teachers because of budgetary cuts.
Cyclical unemployment is the most problematic due to the general decline of the gross domestic product which means the current economy is weak. Currently, in the United States, the household, business, and government sectors are buying fewer goods and services. This is causing a slowdown in the economy. As a result, there is will a significant increase on the cyclical unemployment.
There are several possibilities in order to solve the unemployment problem. The
Government needs to try to create demand in the economy. It could:
- Give grants to businesses to produce goods
- Cut interest rates to encourage spending
- Cut income tax to encourage spending
What are business cycles? What are some of the causes of business cycles? Where on...

Find Another Essay On Current Economic Analysis

Current Economic Issues- Impact of Technology in Australia

845 words - 4 pages Current Economic Issues- Impact of Technology 1. Technological change has impacted on employment since the beginning of the 20th century because it has both created and made many jobs redundant. Factory/manufacturing jobs have been replaced by machines that have become prominent in the last century. Also, newspapers took a long time to make in the times before internet-because it took many people had to work in the production of one. Now, just a

The Vibrant Tradition and History of Niger Compare to the Current Bleak Economic Situation

1471 words - 6 pages Niger, home of the free flowing Niger River is a Sub-Saharan country. Sadly it is an extremely poor country. With part of the country desert and less than 3% open for crop use. The present economic situation is bleak at best. Yet, the vibrant tradition and history of this country live today in its tribes and its people even through all of its adversities. From severe droughts to military coups to a dysfunctional government to the culture has

The social economic and ethical consequences of current uses of computing

1466 words - 6 pages The social economic and ethical consequences of current uses of computing.Modern uses of computing have many beneficial functions within employment and businesses.The internet is a valuable source for advertising businesses, with roughly 100, 000, 000 more people surfing the web than watching television the internet has become an invaluable medium for advertisements. Businesses are able to setup their own websites with memorable . COM domain

Economic Picture of Great Britain 2003 This is an economic report on the United Kingdom going into details using current 2002 stats

3354 words - 13 pages Table of Contents:PageLegal Report:Laws on investment/ export/ intentional business4Foreign ownership4Trade organizations:5Human Rights in the Work Force6Economic Report:Type of Tax System:9Stock Market9GDP10Currency:10Natural economic resources11Trade sectors and distribution channels11Stability of currency 13GDP/capita13GDP Growth14GDP by sector14Inflation Rate15Importing partners and Products16Exporting Partners and producers16Income

Social marketing: building brand value and influence in the UK tourism industry to sustain brand consumption in the current economic recession

772 words - 3 pages Social marketing: building brand value and influence in the UK tourism industry to sustain brand consumption in the current economic recession 1.0 Chapter one: introduction 1.1 Background The current economic recession that began in June 2008 and intensified in 2009 had an effect of decreasing international tourism which was also augmented by outbreak of AH1N1 flu virus in 2009 which resulted into restriction of international travel. The

Analyse the role and implementation of monetary and fiscal policies as tools of macroeconomic management to manage the Australian economy through the current global economic crisis

1483 words - 6 pages Macroeconomic management has traditionally seen as a counter cyclical tool used by governments to reduce the natural fluctuation in the business cycle. In the midst of the current global economic crisis, the role and importance of macroeconomic tools have played a crucial role in stabilising delicate business cycles worldwide. In the Australian economy the fiscal policy has had a major impact with the introduction to the two different stimulus

The Impact of Fiscal Deficit on Economic Growth

1377 words - 6 pages Reserve bank of India reports of India have been utilized in this study. Further, textbooks, journals, magazines in the economic perspective were utilized for this study. Sample This study was conducted in India perspective, especially on the fiscal deficit and economic growth. Data on the fiscal deficit and economic growth from the year 1970 to 2010 were collected for the study purpose. Data analysis method Various statistical methods have been

Treasury bank of US functions and role - Bryant University/ Economics - Essay

409 words - 2 pages was established by Congress in the Employment Act of 1946. Kevin Hassett is the current chairman as of September, 2017. The Council is an agency within the Executive Office of the President and its duty is to offer the President objective economic advice on the formulation of both domestic and international economic policy. The Council bases its recommendations and analysis on economic research and empirical evidence, using the best data available to support the President in setting our nation’s economic policy.

Managerial Economics & Decision Making Process

1590 words - 6 pages Running Head: MANAGERIAL ECONOMICSManagerial Economics & Decision Making ProcessIntroductionA business uses various economic theories, concepts, logics and tools for making an appropriate decision. These theories and concepts are included in the managerial economics, which is a branch of economics. These various economic theories and concepts are used or applied in the analysis of the various business problems and opportunities. The analysis

Health Economics

1776 words - 7 pages economic decisions. Positive economic research and analysis is concerned with 'how things are' (1) and seeks to explain economic phenomena, whilst normative economic research and analysis is concerned with 'how things ought to be' and relies on value judgements of individuals (1). Downie in 3 describes positive economic research as knowledge generation, in which the costs and benefits of various options are described and compared, whilst normative

Political, Economic, Social, Technological, Legal And Environmental Influence Analysis - class - Business

462 words - 2 pages Political, Economic, Social, Technological, Legal And Environmental Influence Analysis For Expanding Business 1113 words - 4 pages Explain why an understanding of the environmental/external (PESTLE) factors is Important for all organizations To run a successful business, it is very important to run a background check on the external environment of that particular industry. PESTLE analysis is widely used to investigate the Political, Economic

Similar Essays

The Current Economic Situation Essay

1044 words - 5 pages Introduction This paper will be a discussion of the current economic condition of the United States and this writer’s opinion on how it can be changed. Unemployment is high and needs to be reduced to full employment. We will explore the inflation rate, GDP growth and other factors of our current economic situation. The main factor that put us in a recession in 2007 thru 2009 was the crash of the housing market and subprime loans. Are we are no

Discuss The Ethical, Political And Practice Implications On Accountability In Nursing As A Result Of The Current Economic Climate And Recent Cuts In Health Care Spending

3588 words - 14 pages . Budget is then split and administered separately in England, Wales, Northern Ireland and Scotland. Department of Health (DH) is responsible for the NHS and the head of DH reports to the prime minister (NHS, 2011). NHS provides health care to more than 62m patients, employs more than 1.7 people and has a budget of roughly 106 billion pounds. However, due to current economic climate, NHS aims to make efficiency savings of 20 billion pounds by the year

Hospital Trends In The Current Economic Environment

974 words - 4 pages Hospital Trends 1. How is the current economic environment affecting hospitals? According to the article, “The Economic Downturn and Its Impact on Hospitals”, the current economic environment is affecting hospitals and other heath care facilities in a number of ways. The most common issue relates to inability of the hospitals to obtain and secure relevant financing that enables health institutions to meet their daily obligations. Since most

Impact Of Current Economic Crisis On Singapore

1869 words - 7 pages Assignment Submission Form(All hardcopy/softcopy assignments to be submitted onA4 paper only along with these cover pages)Page 1(Do not write your Student Roll No. on this page)Course Name EPP2Assignment Title Impact of current economic crisis on SingaporeSubmitted by: Neha Sorathia (GNOVGLM068)_______________(Name of One Group Member submitting the Assignment & Group Number)SPJCM Honour CodeI will represent myself in a truthful mannerI will