Curreny Forecast Essay

Forecasts are extensively used to support business decisions and direct the work of operations managers. The two major types of forecasts are qualitative and quantitative. Within each of these types are multiple methods and models. Qualitative forecasts are based upon subjective data. Quantitative forecasts are derived from objective data. Both methods are not suitable for all situations and circumstances. Each has inherent strengths and weaknesses. The forecaster must understand the strengths and shortcomings of each method and choose appropriately. One example of forecasting is the United States Marine Corps use of forecasting techniques, both qualitative and quantitative, to predict ammunition requirements.

An increase or decrease in the unemployment rate can have a multiple effects on the Australian economy, both beneficial as well detrimental to the economic conditions and the societal outlook.

as the unemployment rate for all persons rose from 4.6% to 6.6%. The unemployment rate for

The unemployment rate averaged 8.5% in 1975, almost 10% in 1982, and has been above 8.8% for more than two years, with little evidence of any improvement ahead.”

The recent job growth is impressive with an increase in 3.4% though the unemployment rate is still at 10% (U.S. average is 5.2%). With this recent increase, there is

While there are expectations of a yearly gain of nearly 2.3 million net new jobs, the unemployment rate is still very high i.e. around 6.5 percent. The lower-than-expected job growth is fueled by various factors including government hiring, weather, and Obamacare. Actually, similar to December, January had a lower-than expected increase in job opportunities since only 113,000 jobs were created. However, the rate of unemployment still reduced to 6.6 percent in this month despite of the growth in labor force. The current rate of unemployment is the lowest in U.S. since the 2008 recession because more people are leaving the labor force instead of finding jobs.

           One could argue the American unemployment has taken a negative turn. The ideal unemployment rate is 3-4 percent, according to Bloomberg article, Why Not Target a 3% Unemployment Rate and the United States’ current unemployment rate, according to the Bureau of Labor Statistics, is at 4.5 percent.  However, this is a big drop in unemployment from the past few years and a .4 percent drop just since February. Though the unemployment rate is not perfect, it does seem to be improving. The wage growth/personal income not increasing may be a serious problem. However, according to Kevin Hassett, Trump’s nomination for Chairman of the Council of Economic Advisors, a rise in the minimum wage could harm the economy, as stated by Bloomberg article, Trump Names Hassett to Head Council of Economic Advisors. Investors have been prompted to begin buying and investing in the market. However, according to USA Today article, Stocks shake off U.S. strike on Syria, jobs miss to end turbulent week a tad lower, as well as Bloomberg article, Dollar Rises, Treasuries Retreat as Stocks Slip: Markets Wrap, America’s stocks had some losses after the

e. Nationwide, unemployment remains low by historical standards, but sectors of the labor market, especially manufacturing, have been losing in recent years.

The unemployment rate rose from 4.9% to 5%. This is usually indicative of the return of employees to the job market. This is a positive sign.

Employment trends are always a concern in our nation, whether we are near full employment or have many people unemployed. The impacts employment has on economic growth may not be what most would

The increase was lower than previous years. A few of the areas that helped increase the growth was real estate, fishing, and forestry. (Pettinger, 20130 The unemployment keeps going down, but the numbers are nowhere where they should be. The unemployment rate was seven point four percent. Things are starting to look better for the economy in the United States.

The unemployment rate in the United States has improved dramatically over the last two years, from a high of 8.3% in July 2012, to a low of 6.6% in January 2014. In October of 2012, the civilian labor force increased from 578,000 to 155.6 million, labor force participation increased up to 63.8%, and total employment overall rose by 410,000! Since then, the unemployment rate has been falling at a stable rate due to a political push from Washington DC and new employment initiatives. The inflation rate over the last 2 years has been relatively stably, with a few major increases and decreases in 2012 and 2013. It reached a high of 2.3% in June of 2012, and reached a low of 1.0% at the end of 2013. The federal interest rate has remained at a constant .25% over the past few years.

However, even though UK spots a positive GDP annual growth rate since 2010, unemployment remained high. Please refer to Appendix F.

suggests that, in the short term, the economy will be able to reduce unemployment below the

Business forecasting is the process of studying historical performance for the purpose of using the information gained to project future business conditions so that decisions can be made today that will assist in the achievement of certain goals. Forecasting involves taking historical date and using it to project future data with a mathematical model. Forecasts are extensively used to support business decisions and direct the work of operations managers. In this paper I will introduce different types of forecasting techniques.