The LFS limits the accuracy of the calculation of the unemployment rate because it results in the issue of “underemployment” or “underutilisation” meaning that people are able and willing to work more hours, however are unable to do so due to the lack of demand from firms for workers to work additional hours. 4) Suppose a firm decides to pay its employees “efficiency wages” that are much higher than in other comparable firms. What may be the reasons for this and
It is frustrating to see how much of a trade off the circle of life is having to sacrifice people’s income in order to get a greater result on a business. Finally, as a result of a so controversial topic I supported, support, and will support the minimum wage. The bad economy that we face today in the country is so depressing that it is not even guarantee if there will be more employment with or without minimum wage. Every day the unemployment increases, inflation increases, poverty increases, crime increases, etc. Moreover, with a minimum wage there is a big portion of the population of the country unemployed, now I think what it will be if there is not a set minimum wage.
Even though union members—those who keep their jobs--- get their wages increased and enjoy improved working conditions and benefits, the economic issues that most unions brings to the United States outbalance the positive effects. As the United States competes with the rest of the world, firms struggle when one of their highest costs is directly related to labor. In the article Labor Unions by Morgan Reynolds, the author accurately explains this phenomenon: while higher wages are successfully achieved, they simultaneously reduce the number of jobs available in unionized firms. This occurs because of the basic law of demand: once prices of labor rise, then employers will purchase less of it. Hence such members’ benefits are achieved at the expense of consumers, nonunion workers, already unemployed people, taxpayers, and corporation owners (Reynolds,
The unemployment was on the rise, and the job market was declining at a high rate. This was going on before he got in the White House. I feel like it is up to the owners' to stay or leave. Companies are taking their businesses overseas to have employees work for lower salaries, paying lower tax rates, better tax credit, or to have more money in the their pockets. Some businesses feel like they are not making money here in the United States.
If other things change, then one cannot directly apply supply/demand analysis. Sometimes supply and demand are interconnected, making it impossible to hold other things constant (Colander, The Limitation of Supply/Demand Analysis, 2010). “In supply/demand analysis, you would look at the effect that fall would have on workers’ decisions to supply labor, and on business’s decision to hire workers. However, there are also other effects (Colander, The Limitation of Supply/Demand Analysis, 2010). “For instance, the fall in the wage lowers people’s income and thereby reduces demand.
Outsourcing of jobs from the United States to other countries has been a growing matter over the past few decades. With the economy at a low, many industries and CEOs are wanting to expand their markets and factories overseas to developing countries that thirst for any job they can get their hands on. These workers are paid a substantial amount less to do the same work that normal Americans would do for a lot more. This is where the issue has many unemployed Americans buzzing. Most minimum wage workers that have lost their jobs to outsourcing absolutely cannot stand the idea whatsoever.
Disqualifications for Unemployment • Being a self-employed or independent contract worker • Being fired for a good reason • Resigning your job without having a good reason • Putting false information on your application • Not making enough money • Not working long enough It is also vital to point out that you can lose your unemployment insurance even if you have already been approved. For example, if you do not actively look for work, then you can be denied
Overworked and Overstressed: A New Trend of the 21st Century “Why can’t I just get a break?” or “I’m overworked” are just one of the many common complaints of people who work hours upon hours of labor-intensive work or just work way too much in their everyday lives express on a day to day basis. In the selection “Worked Over and Over Worked” taken from the first chapter of The Big Squeeze, Steven Greenhouse tells his audience numerous incidents that workers have experienced during their times working at their jobs and having felt the constriction of the current economic conditions; it gives us a better view as to how these employees had to conquer the constant mistreatment at their workplaces, the unfairness in pay, and how they had to deal with their tight economic situations. Many overlook the problem regarding the issue of these employees overworking and getting taken advantage of and for what? In agreement with Greenhouse’s theory, the article “Our Overworked Society” by Iren Rosenberg Javors, briefly talks about how work overrules our social status and our health as well. By taking a more in depth look into these two articles, we can come to a conclusion that the work in America, has taken a toll on the population of workers in a totally different direction and can be seen as America giving us an idea of less hope in the workforce.
Every employee want be in the shifts that had maximum sales to increase their sales-per-hour, so there was a lot of competition. Also, when the sellers did not meet their goals, they are punished with going to work on their days off without any extra compensation or salary for that day. The firm also has a lawsuit from 3 individual shareholders who said that they had suffered financial losses because the company had failed to report their labor problems and early claims for unpaid work. We think that the kind of incentives that the company applies force sales workers to work more time that they could and this could affect the quality of the sales. Workers work under so pressure and it could also affect the environment of working on the company because there is more competition between salespeople and less fellowship.
The administration cost of a separation includes the cost of the severance cost, exit interviews, unemployment hearings and other cost associated with turnover. The training and retraining of the employees is a huge cost to endure in such short periods of time. The indirect cost here include the excess of the overtime pay to current employees or monetary compensation to be paid to an outside source to use a temp service to take care of the work until a permanent employee is recruited and hired. This is paid in order to compensate to current employees in overtime or a temporary service to fill that void until the right person is found and located. The loss of production and or customers due to failure to deliver the employees or products you sell is also an indirect cost that affects the business in a negative way.