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Transcript of Frictional Unemployment
Frictional Unemployment Introduction:
Vardges Gharibyan Background By: William Krivsky Current Unemployment Position By:
John Emmanuel Acain Future Unemployment Position By:
Mehrad Shahirfar As the statistics shows almost 50% of college graduates end up being unemployed Reference Page Which brings up the question..... Unemployment
drastically in 2009 To sum up the our presentation.... Reached peak of 10%
unemployment from 2009-2010 •In the past, present, and future, there has and will always be a relationship between supply and demand
•Organizations, which have openings for specific positions; requiring applicants with higher education calls for a specific demand. Unemployment was steady around 4-6% between 2000-2008. •Likewise, individuals with higher education and carry specialties supply those demands.
•It is when the supply is greater than the demand that frictional unemployment can be induced.
•As a result, competition for jobs will grow and should increase the quality of the employee pool base. Conclusion By:
Sean G. McQueen The unemployment rate of the United States has not been so good since the beginning of 2008 •As of November 2012, the number of national unemployed personnel stood at 12,029,000. •Heavy spending on war against terrorism, growing population of the country, and the fierce competition from firms outside of the country are factors that led to the high volume of unemployed Americans. •Almost 50% of college graduates end
up being unemployed or underemployed. What can students expect in the future as far as finding job related to their major? Frictional unemployment is a naturally occurring
type of unemployment that results from workers being between jobs as a result of a lay-off or simply because workers volutarily quit their current jobs for better ones.
Frictional unemployment does not have much of a negative effect on the economy because higher frictional unemployment replies that more individuals are bettering themselves through ways like higher education. 1 in every 5 college students are less
optimistic on what the future holds. According to ECONOMICS: PRINCIPLES, PROBLEMS, AND POLICIES “Frictional unemployment is inevitable and, at least in part, desirable. Many workers who are voluntarily between jobs are moving from low-paying, low-productivity jobs to higher-paying, higher-productivity positions. That means greater income for the workers, a better allocation of labor resources, and a larger real GDP for the economy.”(P. 531.) To ensure that we do not become the statistics, students need to obtain an entry level position and internship job which allow them to gain experience so after graduation will helps employers and student. By looking forward into future with the rate of Frictional unemployment and the demand for achieving higher education degree the job market for student will be more challenging than ever and student can not only hold on to their AA degree or even BA degree and expect to receive a high quality job. Production through automation which results in more
companies being operated by machines, leaving workers unemployed. Blankley, T. (2010). What is frictional unemployment?. Wise Geek.
Retrieved from http://www.wisegeek.com/what-is-frictional-unemployment.htm
Colvin, J. (2011). Frictional unemployment. About.com US Economy.
Retrieved from http://useconomy.about.com/od/Employment/p/Frictional-Unemployment.htm
Fogg, Neeta P., and Paul E. Harrington. Frictional Unemployment. Nebhe.org, 12 Aug. 2010.
Web. 7 Dec. 2012. Retrieved from http://www.nebhe.org/newslink/does-a-4-5-unemployment-rate-among-college-grads-constitute-%e2%80%9cfull-employment%e2%80%9d/>.
Frictional Unemployment. Buzzle.com, 26 Nov. 2010. Web. 7 Dec. 2012. Retrieved from
McConnell, R. and Brue, L. (2012) ECONOMICS: PRINCIPLES, PROBLEMS, AND POLICIES. New York, NY
Neal, M. (2012, May 10). Half of college grads out of work: study.
Retrieved from http://articles.nydailynews.com/2012-05-10/news/31659198_1_graduates-job-outlook-heldrich-center
Portalseven.com, n.d. Web. 7 Dec. 2012. Retrieved from
Reasons for unemployment in the us. (n.d.).
Retrieved from http://www.bizymoms.com/job-career/reasons-for-unemployment.html
Us unemployment. (n.d.). Retrieved from http://www.deptofnumbers.com/unemployment/us/ Over the course of years, as today’s technology gets better and better, more and more companies are automating their production, which results in workers being replaced by machines. Please Enjoy The Presentation!!!