...The Effects of Unemployment Roderick C. LaGrone COM 150 January 28, 2011 Holly McCusker The Effects of Unemployment Over the past ten years there has been a great shift in society’s employment system. Corporate America has taken major cutbacks in the working labor department that has left many citizens unemployed and destitute. Anger and concern over layoffs, wage unproductivity, declining benefits, and the movement of jobs overseas has left citizens with harsh and undesirable views of the actions and motivations of Corporate America. With the unemployment rate on a downward slope, American citizens have become distressed which has resulted in emotional, social, and, economic hardships. Even though the unemployment rate in the decline many families are still in distress because of the social and economic problems caused widespread company layoffs. Can Corporate America offer our families a better way of life ? The unemployment rate has been on a slow decline over the past few months which indicate a slow improvement in the job market. Even though the decline is a positive indication, many companies are not hiring at an alarming rate. Based on Bureau of Labor Statistics (BLS) the number of unemployed persons decreased by 556,000 to 14.5 million in December, and the unemployment rate dropped to 9.4 percent. Over the years, these measures were down from 15.2 million and 9.9 percent, respectively. As the economy continues to slowly recover many Americans are still trying...
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...THE IMPACT OF UNEMPLOYMENT ON ECONOMIC GROWTH IN NIGERIA (1970-2010) BY DUROSINMI TEMIDAYO.O EC/2008/622 DEPARTMENT OF ECONOMICS FACULTY OF MANAGEMENT AND SOCIAL SCIENCE CARITAS UNIVERSITY, AMORJI-NIKE ENUGU STATE AUGUST, 2012. i TITLEPAGE THE IMPACT OF UNEMPLOYMENT ON ECONOMIC GROWTH IN NIGERIA A PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF BACHELOR IN SCIENCE (B.SC) DEGREE IN ECONOMICS BY DUROSINMI TEMIDAYO.O EC/2008/622 DEPARTMENT OF ECONOMICS FACULTY OF MANAGEMENT AND SOCIAL SCIENCE CARITAS UNIVERSITY, AMORJI-NIKE ENUGU STATE AUGUST, 2012. ii APPROVAL PAGE I certify that this research work was carried out by DurosinmiTemidayo .O. Reg .No. EC/2008/622, of the Department of economics, Faculty of Management and social sciences; Caritas University Amorji-Nike Emene Enugu State. --------------------------------Projectsupervisor ---------------------------------Date -------------------------------ONWUDINJO,P.C Head of Department --------------------------------Date -------------------------------PROF.CHARLES Dean of Faculty UMEH ----------------------------------Date --------------------------------External Examiner --------------------------------Date iii DEDICATION I dedicate this work to God Almighty, to my loving parents BARR and MRS O.A DUROSINMI for all their support thought out the pursuit of my academic careers. I also extend my dedication to my Uncle Engr. T,A DUROSINMI for his fatherly support, and to my siblings. I love...
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...3.2 Unemployment effect on crime An additional problem linked with interpreting the empirical connection between joblessness and crime concerns the direction of causation. To the magnitude that criminal activity decreases the employability of lawbreakers, through either a scaring influence on imprisonment or a superior unwillingness among the criminally initiated to accept genuine occupation, criminal activity may in turn contribute to observed joblessness growth and add to regional joblessness levels. Hence, in addition to difficulties associated with excluded variables, previous inferences might also be flawed owing to simultaneity prejudice. To be more specific, simultaneity upwardly prejudices OLS (Ordinary least Squares) evaluations on crime, (Raphael and Rudolf, 2001:261). 3.3 Unemployment effect on family...
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...Causes and Effects of Unemployment Unemployment or joblessness is a state of life in which a person is missing a paid employment opportunity and is actively seeking work. Nowadays hundreds of millions of people are off the pay roll, roughly corresponding to about seven percent of the world’s population, whereas these rates can be much higher in regions of Southern and Western Africa or the Middle East. Furthermore, in the era of globalization and in a time of financial market disruptions unemployment is on the rise. As joblessness is so prevalent in the world, it is not surprising that socio-economical scientists are learning more about its causes, thus trying to mitigate the social and monetary consequences. Primarily, they distinguish between involuntary and voluntary induced unemployment. The most frequent reasons for unemployment are involuntary by nature since all persons concerned got out of work due to structural or cyclical conditions of the industry. Both occur when demands in the labor market place cannot be accommodated. Structural unemployment often originates from a shift in the economy that makes it difficult for certain segments of the population to find new workplaces or to retain their jobs. Economists reveal that there is a mismatch between the jobs available and the skill levels of the unemployed. The processes of Industrialization in the second half of the 18th century or the recent Digital Revolution are only two examples for structural unemployment when there...
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...Data Collection Project Topics Students in Sociolinguistics I are expected to choose from among these topics listed below. Why? Because it is difficult, as a beginning researcher who may never have conducted fieldwork before, to design a good project that will yield meaningful results and anticipate known pitfalls in one short academic quarter. (It’s much more important to design a good study than to conduct a novel study. So, it is fine to simply do one of these projects.) See what the syllabus has to say about the evaluation of this project here. If you really think you have a GREAT project idea, different from any below, that you want to pursue, you must obtain permission to do it. You will be asked to show that you really know: 1) your research question, 2) the limitations and advantages of your proposed methodology, 3) how your research is situated within a tradition of sociolinguistic research. General Calendar: The notations for WEEKS show a recommended schedule for working on the project without having a frantic rush at any one time. 1. WEEK 2: In class this week, you will choose a presentation. Carefully consider making your data collection project tied to this presentation. This is because you want to have a good understanding of some of the extant research on your topic around which you can structure your project. Previous research also gives you 1) good insight into how to narrow a topic of appropriate size for focused...
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...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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...Australia’s economic growth and its effects on unemployment Economic growth refers to the increase in an economy’s output measured by percentage increases in real GDP. Unemployment refers to the unused labor resources in an economy constituted by individuals who are out of work and seeking work. Since 2012 the Australian economy has been growing below its trend growth rate of 3%, averaging at 2.5%; a rate forecasted to extend over the next two financial years. This is due to both cyclical and structural factors that place limitations on Australia’s economic growth. Cyclical factors such as the slowing resources boom has dampened growth, but will be resolved with structural change as Australia recovers from the Dutch Disease. Structural factors however, such as Australia’s decline in its three Ps – the population of its labor force, its participation rate and work force’s productivity will place constraints on its growth. These constraints are placed on its output – that is, the supply side –, meaning that the maximum rate of growth, which Australia could attain without inflationary pressures, has been constrained. This rate, termed as our trend growth, currently stands at 3% - down 0.25 percentage points prior to the resources boom Mark II. Addressing these constraints, and attaining stronger economic growth would lower unemployment levels. However, that is also dependent on structural features of the economy – during the resources boom Mark II unemployment rates rose as the resources...
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...Economic Effects of the Unemployment Insurance Benefit Business Review Shigeru Fujita July 30, 2010 The views expressed here are those of the author and do not necessarily represent the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. This article is forthcoming in an issue of the Federal Reserve Bank of Philadelphia’s Business Review. overall economy itself has started to grow again after the deep recession. For example, in the fourth quarter of 2009, the average unemployment rate was at a insurance. double-digit level, a level we have not seen since the early 1980s, even though real GDP grew by more than 5 percent. One of the main policy reactions to painful developments in the labor market has been the expansion of unemployment components of the social security programs in the U.S. 1 It provides income (and thus The U.S. labor market has remained weak in recent years, even though the consumption) protection for those who have lost their jobs involuntarily. During “normal” times, unemployment insurance benefits are provided through the regular pre-unemployment earnings and last 26 weeks in the majority of states. 2 During The unemployment insurance (UI) system constitutes one of the major economic downturns, however, the federal government often provides additional government has greatly extended the duration of benefits as a means to combat the surmounting joblessness. As of the summer of 2009, unemployed workers who unemployment...
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...United States of Unemployment There is an epidemic spreading throughout the United States that most people hear about but don’t quite understand the effects it has as a macroeconomic phenomenon—unemployment. According to the latest figures from the Bureau of Labor and Statistics (BLS) the unemployment rate is currently 9.1 percent. From 1948 to 2010 the average unemployment was a little over 5 percent, with an all time high of 10.8 percent. We are currently only a little under 2 percent from the highest unemployment in over a half century. The unemployment rate at 9.1 percent probably seems low to the average American, but it’s not. To put that into perspective, it’s around 14 million people. If the unemployed were a country, the 14 million Americans would be the 68th largest country in the world, bigger than the population of Greece or Portugal (each of which has 10.8 million people) and more than twice the population of Norway (4.7 million). It’s important we find out the different types of unemployment, the causes of unemployment, and the effect is has on the economy. To learn more about the causes and effects of unemployment we must first determine the different types of unemployment. There are three different major types of unemployment; frictional, structural and cyclical. In the case of frictional unemployment, people are only temporarily unemployed due to a transition. Structural unemployment occurs when there aren't enough jobs to support the people who are...
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...Unemployment and crime: New evidence for an old question Kerry L. Papps Victoria University of Wellington Rainer Winkelmann* IZA and Centre for Economic Policy Research, London December 1999 This paper uses panel data techniques to examine the relationship between unemployment and a range of categories of crime in New Zealand. The data cover sixteen regions over the period 1984 to 1996. Random and fixed effects models are estimated to investigate the possibility of a causal relationship between unemployment and crime. Hypothesis tests show that two-way fixed effects models should be used. The main result of the paper is that there is some evidence of significant effects of unemployment on crime, both for total crime and for some subcategories of crime. We are grateful to Rachel Bambery, New Zealand Police National Headquarters, for her assistance in obtaining crime and population statistics. The staff of the University of Canterbury Library also gave invaluable help in unraveling the complexities of New Zealand unemployment and income data. The paper has benefited from useful comments by two anonymous referees, Simon Kemp, Jacques Poot and participants of the CEPR conference on “Metropolitan Economic Performance”, Lisbon, October 1998. *Corresponding author: IZA, P.O. Box 7240, 53072 Bonn, Germany; winkelmann@iza.org. “I know only of three ways of living in society: one must be a beggar, a thief, or a wage earner.” HONORÉ de MIRABEAU (1749-1791) 1. Introduction ...
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...Trade and Unemployment: What do the data say?∗ Gabriel Felbermayr† Julien Prat‡ and Hans-Jörg Schmerer§ , , September 2010 Abstract This paper documents a robust empirical regularity: in the long-run, higher trade openness is associated to a lower structural rate of unemployment. We establish this fact using: (i) panel data from 20 OECD countries, (ii) cross-sectional data on a larger set of countries. The time structure of the panel data allows us to control for unobserved heterogeneity, whereas crosssectional data make it possible to instrument openness by its geographical component. In both setups, we purge the data from business cycle effects, include a host of institutional and geographical variables, and control for within-country trade. Our main finding is robust to various definitions of unemployment rates and openness measures. Our preferred specification suggests that a 10 percent increase in total trade openness reduces aggregate unemployment by about three quarters of one percentage point. Keywords: international trade, real openness, unemployment, GMM models, IV estimation. JEL codes: F16, E24, J6 ∗ We are very grateful to two anonymous referees, to Luca Benedictis, Peter Egger, Benjamin Jung, Wilhelm Kohler, Devashish Mitra, Christopher Pissarides, Richard Upward, as well as participants at the CESifo Munich - Tübingen workshop, and workshops at the Universities of Aarhus, Göttingen, Leicester, Uppsala and Nottingham. † Corresponding author. University of Stuttgart-Hohenheim...
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...Unemployment is a major issue in today’s society. Do you know what causes unemployment? Do you know who it affects? I do, let me tell you. Unemployment effects everyone, whether it be directly or indirectly. Even if you are employed, the unemployment of people in your community can hit home. As a public relations specialist I work with people on a daily basis to try to get them the assistance they need so that they can get better jobs. There are several causes of unemployment such as recessions, disability, attitude towards employers, willingness to work, employee values, and discriminating factors in the place of work such as age, class, ethnicity, and race. All of these factors and more play a role in the unemployment in today’s society. When you see the downward spiral of joblessness if you are a business owner hire someone to help, if you have connections to great companies let someone know so that we can help decrease the unemployment rate. I hope to supply you with the causes and effects unemployment has on individuals and their families. Discriminating factors in the work place causes unemployment are very much present; it may come in many different ways. They may terminate you from your job because of your age, a lot of employers think that because you have gotten older you may not be able to perform your job as good as you did back when you where younger so they hire a younger individual to keep the work environment young and hip. Another discriminating factor...
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...Inflation and unemployment were not improved by monetary policy Abstract The global financial crisis made a long term negative effect on the economy all over the world as well as New Zealand. GDP and inflation decreased with a high level of unemployment rate. This essay is going to discuss the effect of the actions from reserve bank. According to their response, the IS-LM, AD-AS and Phillips models will be used to analyze the effect of change in OCR on economic activities. Furthermore, some previous literature will be used in this essay which is relative to some problem happened during the recession. Introduction There is a big impact on the economic environment following the 2008 financial crisis. New Zealand faced a negative effect on unemployment rate, income, inflation and output and etc. as an important part of developed country. The main aim of this essay is to investigate what monetary policy has been used in response to the recession and whether it is useful to make a significant recovery. The financial crisis can be seen as a very serious problem in New Zealand. The stock market got hit seriously because the investment, income, confidence, employment rate etc. all fall. During the recession, the unemployment rate rose from a low of 3.5% in December of 2008 to a high level of 7.3% in June of 2012. (TRADING ECONOMICS, 2013) The New Zealand GDP had a negative growth during 2008 and 2010 because many businesses shut down and the unemployment rate increased...
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...Effects of Unemployment Post University Augusta,Ga Efffect on Unemployment In America, 11 out of 100,000 become suicidal because of financial issue in their life. The financial issues stem from unemployment(Newsweekly Killer Economy,Jan 13, 2009 7:00 PM EST,Aurthor Unknown,Retrieved fromhttp://www.thedailybeast.com/). Unemployment has a larger effect on our economy. Other effects this came have are Crime rates increase, marital problems, health issue the education for our children are neglected and the unemployment rate is higher for certain races. Research shows unemployment has the largest effect on families(Clifford L. Broman , V Lee Hamilton, and William S. Hoffman,Retieved from http://quod.lib.umich.edu/) In a two parent home if there is one parent that is unemployed, it can cause stress for the working parent. They have to provide all necessities for the household such things as clothes, food and shelter. All bills fall on the one parent and can become very over whelming. For the unemployed parent it can also be stressful know that you cannot assist with bills or any household needs. At some point that parent will start to feel a sense of worthlessness and can become very depressed. In a situation like this fights and...
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...has been asked to research unemployment concerns in Chile and to write a report of his/her findings. The employee has been asked to research data sets for unemployment and state the relationships between unemployment and Chile’s economy. The employee must answer what trends he/she finds in the data sets and to support those trends with statistical evidence. In today’s economic turmoil one only needs to look at Chile to gain a better view. According to www.thisischile.cl the country is ranked second according to the Economic Climate Index (ICE). Chile is ranked second after Brazil in Latin America. Chile has reached a 7.8 ICE score a vast improvement over the 1990 score of 2.9. According to the New York Times (2011) “Chile is home to the world's largest copper producer.” Chile also produces wines and fruit with agriculture accounting for 15 percent of Chile’s total exports. As stated by Krugman & Wells (2009) “Unemployment is the number people who are actively looking for work but aren’t currently employed.” Krugman & Wells (2009) also states that “The unemployment rate is the percentage of the total number of people in the labor force who are currently not unemployed.” A country’s economy has a direct effect on the unemployment rate. If the economy is good unemployment rates are usually low, if the economy is bad the unemployment rate is usually high. Chile is currently enjoying a stable economic climate with unemployment numbers reaching an all-time...
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