Discussion Forum 7 PDF

Title Discussion Forum 7
Author Sterly [St-Elearn] PAULISCAT
Course Macroeconomics
Institution University of the People
Pages 2
File Size 51 KB
File Type PDF
Total Downloads 74
Total Views 126

Summary

discussion forum...


Description

The text outlines three kinds of unemployment: Frictional, Structural, and Cyclical. The Bureau of Labor Statistics describes a fourth kind, seasonal unemployment, as: “The seasonal fluctuations in the number of employed and unemployed people reflect not only the normal seasonal weather patterns that tend to be repeated year after year, but also the hiring (and layoff) patterns that accompany regular events such as the winter holiday season and the summer vacation season.” Of the four, structural unemployment is the most challenging for people. In this discussion assignment, provide an example of each kind of unemployment you have either experienced or witnessed. Consider what you might personally do to avoid structural unemployment in your own career. Frictional unemployment is referred to as the period that a person is searching for the right type of job matching with his requirements in terms of salary, nature of work, location, qualifications etc. For instance, when I was in high school, I wanted to finish learning English so that I could have a job in the translation fields. As I have been applying and then, during interview sessions, I could really handle the conversation. Cyclical unemployment is the component of overall unemployment that results directly from cycles of economic upturn and downturn. At present due to Covid 19 many people are being laid off. Due to recession and downtrend in business people are losing jobs. This is an example of Cyclical Unemployment. An example for a structural unemployment was during the pandemic, I was laid off as an English teacher, because the school wanted to cover the most basic subject with their students like math, physics and then they had to forgo extracurricular courses. Structural Unemployment occurs when the skill set possessed by an employee is no longer in demand by the employers. When new technologies are introduced, some jobs and skills can be replaced by machines, a process known as automation.

One way I have witnessed that, is older workers were more likely to have jobs in industries like newspapers that were replaced by new technology. I think in order to avoid structural employment; people must always be in constant search for new skills, by keeping their learning cycles. Get trainings in other related fields may be an option.

Seasonal unemployment occurs when people are unemployed at particular times of the year when demand for labor is lower than usual. An example for that is in the tourism sector in Haiti. People with the skills to serve tourists are more likely find job in summer and in winter, when people in the Diaspora or foreigner want to come back to their home country for vacations....


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