...Introduction According to the U.S. Department of Labor, unemployment rates have increased to 7.9 percent. The unemployment rate can be defined as the number of people actively looking for a job as to the percentage of the labor force. Although statistics show an increase has occurred, there has also been an increase in higher education jobs. Higher education growth has been steady, stable and greater than overall U.S. jobs. The market share of higher education jobs compared to all U.S. jobs continued to increase and a trend has persisted for several years. Individuals who complete educational programs possess the qualities employers are seeking. These strong qualities include the willingness to learn, initiative, and organizational abilities. By pursuing a high level of education that is consistent with the interests and abilities, the career goals are likely to be reached. Statement of the problem Can having a higher education offer you more job opportunities? Is higher education a promise to less risk of unemployment? Are there clear indications that there’s a relationship between higher education and lower unemployment rates? Objectives 1. The underlying question to be answered is to determine if higher education promises less risk of unemployment? Hypothesis Null Hypothesis- The risk of unemployment is not affected by higher education Alternative Hypothesis- Higher education affects the risk of unemployment Methods We are planning to test correlation on SPSS...
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...Explaining Unemployment: An Analysis on State Unemployment Rates Rachel Schlesselman Creighton University Introduction and Research Question Mississippi has 48,434 square miles of land. The state flower is the magnolia. Hawaii has only 6, 423 square miles of land and the yellow hibiscus as the state flower. These states are very different in many aspects; their populations, products, and geography are all very different. States are very unique and while national averages can give a general understanding of these separate entities, how are we to be sure it is an accurate account. The national average for unemployment in August of 2006 was at 4.7 percent. This does not adequately represent the unemployment rates for Mississippi or Hawaii. Mississippi had the highest unemployment rate of all states at 7.1 percent. Hawaii on the other hand, had the lowest at 2.8 percent. If the national average does not accurately represent the unemployment rates of these states, is it not then important for us to look at those state rates and determine our own cause for the differences? It is because of this I ask the question, how do we explain the variation of unemployment rates among the individual states? It is important to clarify exactly what the question is asking and the unit of analysis that is going to be tested. According to the Bureau of Labor, unemployment is defined as “persons who did not work or have a job during the reference period, were actively looking for work during the...
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...and the world must counter that, receiving a college education is far more beneficial than other routes because it delivers higher salaries and stable jobs. First off, those with a college degree earn a significantly larger salary than those without, although there are some extremely successful people who spent class time better elsewhere. However, there are many who have attempted that path yet they failed. Thus, in the argumentative article “Actually, College is Very Much Worth It” Andrew Rotherham claims...
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...discriminate between workers with disabilities and those without disabilities. Both sectors lost jobs in unprecedented numbers (Fogg, Harrington, & McMahon, 2010). According to Fogg, et al, as a percentage, workers with a disability had a 5% higher unemployment rate than workers without a disability. There are two major reasons for this disparity which affected workers with disabilities during the Great Recession. Education Levels Education levels played an important role during the Great Recession. Workers with higher levels of education were less likely to experience the effects of unemployment and this was also the case with disabled workers. Disabled workers with a degree in higher education suffered less unemployment than disabled workers with only a high school education. Although higher education levels gave some cushion for workers with disabilities the cushion was less likely to occur than with workers without a disability (Fogg, et al, 2010). Across all educational levels of workers those with a disability saw a higher level of unemployment. High school dropouts with a disability ranked the highest unemployment level with an average of 24% unemployment (Fogg, et al, 2010). Although education levels were a major factor in unemployment levels for workers with disabilities during the Great Recession there was another factor that contributed as well. Age Typically age is a factor in employment levels and within a recession age...
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...with high levels of skill/education and those with low levels of skill/education, always resulting in higher rate of unemployment” | | 1411 8794 | 02/11/2015Word Count: 1, 522 | | The statement presents discriminatory issues of minimum wage between those of a higher or lower skill and education, which results in an increased rate of unemployment. It is assumed that, through minimum wage, lower and higher skilled workers are paid equally, rendering the education of higher skilled workers redundant. Higher skilled workers would be more partial to higher paying jobs than that of minimum wage, which consequents higher unemployment. Unemployment results in a number of economic issues as production possibilities are not fully realised. For instance, had workers been employed, there would not be a loss of output produced; this is known as Opportunity Cost. This essay shall cover points concerning minimum wage, occupational choice, return of investments in education, and human capital. The implementation of minimum wage directly affects employment rates especially low skilled workers, and young workers. The two most prevalent arguments are between supply side economists and demand side economists (Richardson IV, O. E., NO DATEa). "Economic consensus has long linked higher minimum wages with higher unemployment," according to the Wall Street Journal (WSJ, 2009), and supply side economists believe that, through increasing the minimum wage, unemployment rises, especially between...
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...New York unemployment rates are relatively high. People are trying to analyze the causes of this situation and explain reasons of unemployment in the United States. In the article “U.S.G. and P.T.A.” by Thomas L. Friedman, the author is discussing unemployment as a major society problem. He highlights three main problems, which foster unemployment: increase in global competition mainly because of globalization, fast-growing technology, which eliminates low-skilled workers from the job market and low American educational grades compared to other countries. In the article “Digging Deeper Into What Caused Job Losses” by Casey B. Mulligan the author argues that unemployment was not caused by credit-crunch or demand-based theories. He gives arguments why those theories are not accurate which indirectly approve and agree with the first article. Unemployment in The United States caused by global competition, fast-growing technology and lack of qualitative education and not caused by credit-crunch or product demands. The first deep problem fostering unemployment is global competition. “And as the education systems of China, India, Singapore, Poland and Vietnam continue to improve, and more of their cream rises to the top and more of their young people apply to ivy League schools, it is only going to get more competitive for American men and women at every school”. The author states that it is become really hard to compete with other countries, because their growing education. He gave...
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...savings to the society as whole. Although it does not imply that suicide should be acceptable to society, but purely in economic sense, the prevention of suicide is likely to incur economic costs to the society as does the prevention and treatment of medical illness. Why it is interesting and important: Obviously, researching on suicide is very important, no matter which of the two economic perspectives described is more reliable. If it is the case that the cost of suicide to the society is very significant that we need to do some prevention, then once we get the idea of what the important determinants are, we can focus on the ones have most impact. For example, if the higher the education level is, the fewer people tend to commit suicide, we can try to subsidize education and improve the overall education level of people, and then we expect suicide rate will be lower according to this action. If we find out that...
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...of automation on employment, we must first study the economics of unemployment. Primarily, there are three types of unemployment. First, frictional unemployment, which refers to the unemployment that occurs when workers, who have either left or lost their jobs, search for a new job. Second, cyclical unemployment, which describes the unemployment associated with business cycles occurring in the economy and this unemployment occurs during recessions and depressions. Finally, structural unemployment is the permanent type of unemployment that occurs in long-term when the quantity of labor supplied exceeds the quantity of labor demanded in the economy. In the following section, we will discuss the relationship between automation and unemployment. Primarily, we will emphasize on two issues- 1) Automation does not result in permanent unemployment, and 2) Automation actually creates more jobs in the economy Unemployment created by automation, or technological unemployment, is a type of frictional or temporary unemployment as unemployed workers eventually find new jobs. However, some people believed that technological unemployment might lead to structural unemployment. For several decades, indeed for centuries, the main controversy about technological unemployment has been whether it can ever lead to structural unemployment. The notion that unemployment created by automation may lead to structural unemployment is known as Luddite fallacy. The Luddite premise was originated...
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...world. However with increase in the number of schools and colleges, enrollment rates, literacy rate etc, Indian youth are not only unemployed but still unemployable and this would remain one of a grave and serious policy issue to India for many upcoming years. This paper will examine the role of higher education reforms in eradicating the problems of unemployment. * To focus on present Education system of India. * To focus on present employment and unemployment scenario of educated youth in India. * To shed light on the necessary suggestion & recommendation for the betterment of educated youth. Glimpse of Indian Education System. * Elementary education in India lays emphasis up to the age of 14 years. Government is the largest provider and facilitator of educational in India, almost 80% recognized Schools are run by government. * 27% of Indian children are privately educated due to poor standard of public education. * India is facing a severe challenge. 26% of its population is still illiterate, 15% of Indian students reach high school and just 7% reaches to graduate level. (Zareer Masani, 2008). * Secondary Education covers children between 14-18 years of age. According to census 2001, 88.5 million children fall under this category. However enrolment figure shows that only 35 million of these children were attending schools in 2001-02 which means that two third of the population remained out of school. *...
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...TOPIC: ROLE OF HIGHER EDUCATION IN MANPOWER PLANNING AND DEVELOPMENT IN NIGERIA: CASE STUDY OF UNIVERISY OF LAGOS Keyword: Higher Education, Manpower, Planning and Development. Abstract Education is frequently seen as a means to strengthen national capacity, (United Nations Development Programmes (UNDP), 2010). How exactly education contributes to manpower planning in Nigeria and yet high unemployment rate often remains a black box. Hence, there is a strong case to be made that the interplay between higher education and manpower planning and development should be a focus of attention in the policy arena. Conventional thinking suggests that education, and higher education in particular, is a way of meeting the manpower requirements for economic development, (Ojo, 2006). Here, manpower preparation is assumed to be a major means of capacity development. Manpower forecasting and matching is a classical approach to educational planning. The first manpower planning exercise in Nigeria started in 1959 with the appointment of Sir Eric Ashby Commission, (Ojo, 2006). With the worsening unemployment situation and the shortage of high-level manpower, that is the simultaneous occurrence of surplus of unskilled labour and shortage of skilled labour, manpower planning in Nigeria became lacked and wanted, (ibid). The main problems of the education sector in general and Africa in particular among others include poor quality, mismatch between education and the labour market. On quality, high...
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...Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Macroeconomics, 5/e • Olivier Blanchard 1-1 The United States Table 1-1 1996–2006 (average) 2006 2007 2008 3.1% 3.4% 3.3% 2.1% 2.5% Output growth rate Unemployment rate 6.2 5.0 4.6 4.6 4.8 Inflation rate The unemployment rate 4.0 2.0 2.9 2.6 2.2 Output growth rate: annual rate of growth of output (GDP). Unemployment rate: average over the year. Inflation rate: annual rate of change of the price level (GDP deflator). 3 of 18 Chapter 1: A Tour of the World The inflation rate The period 1996-2006 was one of the best decades in recent memory: The average rate of growth was 3.4% per year. The average unemployment rate was 5.0%. The average inflation rate was 2.0%. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall • Macroeconomics, 5/e • Olivier Blanchard 1-1 The United States 4 of 18 1-1 The United States Has the United States Entered a New Economy? Should We Worry About the U.S. Trade Deficit? Figure 1 - 2 Figure 1 - 3 Rate of Growth of Output per Hour in the United States Since 1960. The U.S.Trade Deficit Since 1990 The trade deficit increased from about 1% of output in 1990 to about 6% of output in 2006. The average rate of growth of output per hour appears to have increased again since the mid-1990s. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice...
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...It focuses on the structural problems within an economy and inefficiencies in labour markets. Structural unemployment occurs when a labour market is not able to provide jobs for everyone who is seeking employment. There is a mismatch between the skills of the unemployed workers and the skills needed for the jobs that are available. It is often impacted by persistent cyclical unemployment. Frictional unemployment is another type of unemployment within an economy. It is the time period between jobs when a worker is searching for or transitioning from one job to another. Frictional unemployment is always present to some degree in an economy. It occurs when there is a mismatch between the workers and jobs. The mismatch can be related to skills, payment, work time, location, seasonal industries, attitude, taste, and other factors. Cyclical unemployment is a type of unemployment that occurs when there is not enough aggregate demand in the economy to provide jobs for everyone who wants to work. Unemployment Rate in Thailand decreased to 0.87 percent in February from 0.91 percent in January of 2016. Unemployment Rate in Thailand averaged 1.49 percent from 2001 until 2016, reaching an all-time high of 5.73 percent in January of 2001 and a record low of 0.39 percent in November of...
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...GDN Working Paper Series Education, Training and Youth Unemployment in Kenya Joy Kiiru, Eldah Onsomu and Fredrick Wamalwa Working Paper No. 26 October 2009 About GDN The Global Development Network (GDN) is a leading International Organization of developing and transition country researchers and policy and research institutes promoting the generation, sharing, and application to policy of multidisciplinary knowledge for the purpose of development. Founded in 1999, GDN is now headquartered in New Delhi, with offices in Cairo and Washington DC. This Working Paper has been prepared within the GDN’s Global Research Project Institutional Capacity Strengthening of African Public Policy Institutes to Support Inclusive Growth and the MDGs. The project has been fully funded by the United Nations Development Programme’s (UNDP) Bureau for Development Policy (BDP) and Regional Bureau for Africa (RBA). The views expressed in this publication are those of the author(s) alone. © GDN, 2009 2 Education, Training and Youth Unemployment in Kenya Joy Kiiru, Eldah Onsomu and Fredrick Wamalwa 1 Abstract Young people in Kenya constitute 30% of total population while youth unemployment constitutes 78% of total unemployment. In nearly all developing countries the rate of urban unemployment in the 15-24 age group is at least double the rate of all other age groups. These high rates of urban unemployment in this age bracket are also seen in developed countries, although the rates are far lower than...
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...factors accounting for the decline in men’s participation rate in labor force, including changes in laws and government regulations. Social security retirements for the elderly population have affected labor force participation rates. Besides, Social Security Act, which was amended in 1960, has allowed individuals under age 50 eligible to receive disability payments. By providing people with non-labor income, it reduces the incentive to work which leads to people dropping out of the labor force. In contrary, remarkable changes in labor force participation rates of women reflected their significant role in the world of work over the past 60 years. Access to higher education and training used to be a significant barrier to women’s participation in the workforce. However, since the 1950s, the ability to pursue higher education, occupational structure of the economy and medical advances have allowed women to choose between household labor and work in the labor market in order to maximize their utility. Labor-saving technology and home-care products such as washers and dryers, dishwashers, etc. have helped to reduce the amount of time spending on household tasks. Birth control has also provided women with more choices in child bearing decision. Hence, they have had more opportunities to participate in the workforce. Recession is a significant decline in activity across the economy which lasts for two consecutive quarters. One of its characteristics is a rise in...
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...Upon looking at a Macro indicator like Retail sales in a given economy it may provide very important data that can be used by decision makers to direct policy or make general business decisions. In order to understand this data it is important to understand the difference between a direct signal and an indirect signal. These two items if used properly will allow a decision maker the correctly direct their efforts. First starting with direct signals. These signals can be defined as a database of facts that are not up for debate. These signals measure exactly what you want them to measure and provide a database of information. For Example looking at Retail Sales. If a decision maker in a retail segment of the economy is looking to see where retail sales are over the period of January-‐May, they would look to the retail sales data. Whatever it shows is what retails...
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