Deficit Procedure”, which meant that Portugal’s public finances would no longer be under the corrective arm of the Stability and Growth Pact (GBP). In fact, Portugal’s budget deficit fell to 2 percent of GDP, far below the limit of 3 percent in the MoU, being the lowest since the early 90s. Equally important to mention was the unemployment rate which decreased to an eight-year low of 9.2 percent in May 2017, number that seemed to be impossible to reach after an all-time high of 17.5 percent in the first quarter of 2013. Additionally, after the credit rating agencies Moody’s, Fitch, and Standard and Poor’s downgraded Portugal’s rating to junk status in 2011 and 2012, S&P, one of the world’s three biggest ratings agencies, raised Portugal …show more content…
The adoption of a single European currency (the euro), the free trade, and the removal of non-tariff barriers contributed to a reduction of transaction costs, and consequently to a reduction of costs and prices for the Portuguese consumers. Additionally, it became much easier to do business and travelling in the Eurozone. In 2016, there was a boom in the travel and tourism industry, which had a huge economic impact in the Portuguese economy, generating a total contribution of EUR 30.8 billion (16.6 percent of GDP), and adding 905.000 jobs in the sector. In 2016, Portugal, a peaceful country known for its fantastic beaches, food, warm climate, and historic cities, welcomed 11.4 million foreign tourists, mainly British, Germans, Spaniards, and French. For the past few years, Portugal won several important world travel awards, which reflects the development and modernization of infrastructures and technologies that the country suffered along the years. Furthermore, the free movement of people contributed to a more flexible labor market, making easier to fill shortages of workers in some specific fields and in certain regions. For example, it is very difficult to find doctors and other specialized workers, such as teachers and engineers, to work in the interior of
Explain to her (through her daughter as necessary) what you will be doing. You might want to explain that t takes extra time to listen to her heart & that just because you listen for a long time does not indicate there is a problem. Move your stethoscope in inch-long increments, in a Z pattern across the chest, from the base of the heart, across & down, then over to the apex. Although heart sounds are generally lower in pitch,
As new machinery became heavier, as factory work became more prevalent, and as economic depression pressed down on both American and British economies, the workforce shifted to men, often farmers and immigrants.
With the growth of industrialization in the second half of teh 19th century, many developing contries lacked teh workforcee to fill the positions opening up in the rapidly multipling factories. Therefore, they found teh solution in hiring laborers from other countriess, which are less devloped. Probably the most common reasons for labor migration are economic. The migrants were also enthusiastic about leaving their own contry since they were suffering form unemployment and poerty in their country of
There they had a higher chance of earning good wages and improving their economic and social status.
To begin with, Portuguese had more motivations and perceptions compared to Ming Chinese and since, Portugal was able to dominate the Indian Ocean while China can not. There were 3 reasons why Portugal had more success time than China and I believe that those 3 reasons are military force, idea and culture(the way they think). For example, Portugal was compared with fearful animals, other countries admired them and China stopped the trade with foreign countries because they were scared of attacks and invasions from Portugal. First, according to document 3,8 and 10 several countries in Asia were scared of Portuguese military force because in document 10 the chronicles of the Kings of Sri Lanka(Ceylon) in 1498 showed his fear toward Portugal
In fact, much of the recent reduction in the deficit is due to the decline in unemployment” (p. 1). With record high deficits within the last years the idea of the government spending to spur the economy that ultimately would help reduce the unemployment level seems near impossible without further affecting the deficit rather than helping reduce it.
As the rise of immigration gradually inclined, many more job were available for those of different backgrounds, as well as the growth of factories and manufacturing which flourished many cities in numerous states. With more labor being distributed, the price for necessary goods
The governments mainly reduce spending cuts and increases tax on both the nation and firms, and back to applying economics belief, the action will only cause a contraction of the aggregate demand of the whole economy, hence, reducing GDP. It is reported that the fiscal measure includes a 60 percent revenue and 40 percent spending cuts. These actions, has decreased the willingness of firms and companies to invest since the after-tax return has been reduced. Next, the of cutting government spending can also mean less jobs for the peoples in the public sector. Unemployment rate increasing from 9.4% to 11.3% (Ferreira.Joana,2017). Using the multiplier effect will be the best to explain, when there is less jobs for the people, it will mean no income for the unemployed and a drop in purchasing power, more importantly it will be very hard for the people to pay the high taxes. It is also reported that the bailout money has all been used to repay the banks instead of using it to correct the
Excellent salaries jobs and conditions of working, primary safety of people, and many other advantages looked as an oppurtunity in a natural life to these very struggling immigrants. The huge rush of these people created the job shortage (Conlin, 2009, 444-449).
And with the massive immigration, the laborers who denied working for the employer under unsuitable conditions were replaced by the immigrant laborer who was willing to work under those conditions. The immigrants came to the United States with high expectations for better opportunities but, they faced many challenges which made their experience different from expectations.
In this case study, first year third grade teacher, Maggie Lindberg, is having trouble controlling her class. The children are well-behaved during their art period. However, when Ms. Lindberg is in charge, they are highly uncontrollable. They talk when they are not supposed to talk and they don’t listen to anything that Maggie says. There’s supposed to be a nature walk/field trip and Ms. Lindberg’s class has yet to complete the task.
Many individuals took advantage of the rapid industrialization and high influx of cheap labor in the form of immigrants. Among these
Stretching over 2,500 miles form east to west and 2,700 miles from north to south, Brazil is the world’s largest tropical country. The only nations that are larger are the lands of Russia, Canada, China and the United States. Brazil has more then 150 million people spread unevenly over its huge land area, making it the fifth most populated country in the world. (Encyclopedia.com) More then two thirds of Brazil’s people live in the cities and towns and more then 29 percent of them are in the ten cities with more then a million people. These include the metropolitan area of Sao Paulo with more then 15 million people and Rio de Janeiro with more then 9 million people. The rural population is mostly concentrated on the East Coast or
Portugal is a country that has a political system similar to several countries that have been discussed in class. The current political system is a semi-presidential democracy with an symmetrical legislature, and it is a unitary government. There are different branches and chambers with different powers that attempts to keep a balance of powers among the different branches. The current political system is the result of many revolutions and evolutions the country went through over time.
By the end of 2008, the European Union began experiencing rippling effects of the United States financial crisis. Several member countries, most notably on the southern end of the continent, faced high levels of debt and unemployment. Portugal, Iceland, Ireland, Greece, and Spain, derogatively referred to as “PIIGS,” required extensive economic support from the EU in order to repay government debts and bail-out private banks. Disbursal of aid in 2010 proved successful in promoting economic recovery in some countries; however, the vast majority observed only slight economic improvement which led to doubts regarding the effectiveness of the harsh austerity measures implemented. Ireland has most clearly benefited from the financial support of the European Union as the country’s unemployment rate has dropped below ten percent and is expected to witness 4.5% GDP growth in 2016. Portugal, on the other hand, shows little fiscal improvement as evident in an unemployment rate of 13% and an expected GDP growth of only 1.6% in 2016. Although both countries faced tough financial crises in 2010, Ireland has notably outperformed Portugal in resolving the situation. The weak economy in Portugal, as well as continued fiscal hardship in the remaining “PIGS” countries, threaten the preservation of the European Union as financial inequality between the members persists.