Macroeconomic - Written Assignment Unit 7 • Definition of structural unemployment: Structural unemployment occurs when employees and employers, for some reason, can 't find each other. For instance new technology may be a cause of structural unemployment. A company may require new technology skills that are not met by the candidates in the area, so sometimes the employer decides to relocate certain jobs somewhere else where people are more qualified. Another example is when technology and automation in production causes loss of jobs as well. Also, a company may decide to move its office or production somewhere else (overseas), where the cost of labor is more convenient. All of these situations generate an increase in the unemployment rate, called structural unemployment. • Impact of technological change on employment The impact on employment occurs because a change in technology immediately affects the demand of skills requirements. For instance, think about a factory that is going to open a sophisticated new automated production area that would produce something automatically from raw materials into finish goods. In this case, the employer will most likely hire a mechanical engineer in order to fill the position. I made this extreme example just to explain that a technological change has always represented a change in the skill demand in business since the industrial revolution. Hence, with the innovation of technology, from hardware to software, employees at all level need
B. There were many contributors that included government action, labor unions, immigration, and technological changes.
Using this approach causes a substitution effect, because the firms increases the use of capital (robots) and decreases the use of labor. However, in order for the employer to use this approach they must firstly have the financial resources to adjust their operations.
Mass production became a new phenomenon that led to a drastic change in America's economy. This lead to specialization of labor causing a decrease in skill among the workers who would consistently produce one aspect of a product until “there is no more of that kind of work to do” and are then helpless (Doc C). This approach to manufacturing caused unstable jobs due to the fact that they were easily replaceable being that their jobs required minimal skill or knowledge. As mass production boomed, it led to a decrease
New inventions arose, making faster and easier work out of jobs that used to be done by hand and took a long time to complete, as Document 4 shows with the process of making fabric changed significantly from the previous domestic system pictured in Document 1. This affected society by creating new jobs in city
industry. This change ties in with the change in coercive labor because in order for this industry to boom,
In addition, fewer and fewer people are needed for the various jobs as many computers can take over the tasks. In many production plants and factories, computers will replace the workers because they never get tired, do not need breaks, the error rate is zero, and they are not entitled to leave. On the other hand, new jobs have been created by the technology and development that did not exist before.
I will choose the appearance of the automobile to become the first example of the application of technology to
This can influence how we are compensated and it can halt extra work triggering added unemployment.
Technology: advancements of technological adaptation has made employment obsolete. No longer is there a need to educate and train employees for positions that Artificial Intelligence (AI) can do. Companies are paying more for research and development (R&D) into technological advances to increase their bottom line as employee salaries are a company’s highest expense (American Sociological Association, 2013).
The need for education for more and more low-skill workers and is increasing with the changing of the skills needing to perform the tasks that are required by the industry of their choosing.
In today’s world, as technology is advancing around us, some of the major effects that can be seen are medical technology advances, ease of communication with the growing technology, and the negative effect on our body.
Because many manufactured goods were now being made interchangeably, the efficiency for manufacturing consumer goods was at an all-time high. Soon, the economies of scale technique was introduced and manufacturers were now able to figure out how much it cost per product depending on the supply, demand, and actual cost of the product. It was now much easier for innovators to focus on upgrading these products, instead of having to make them one by one. Once it was easier to upgrade machines, new
Structural unemployment may occur in the short term with the removal of trade barriers. This will have impact on large numbers of workers, as well as their families and local economies. In growth industries workers often will have difficulties to find employment.
Breakings through the chains of corporate slavery is in full affect. In other words, nobody wants to work for a heartless corporation that does not value their staff. Individuals are educated and ready to make a career change if necessary. The overwhelming feeling of being imprisoned by a job is dreadful. Even the most loyal captive will seek an opportunity to break free from a dreadful organization. The sensation of being confined within an organization with no room to grow or expand is a daunting feeling. When individuals are treated as if they do not matter, it raises the question; why stay here? If employers are naïve enough to think that there are no other options for hard working people, they are wrong. The information being
Four areas that the criteria should include are employee’s impact on the performance goals, skill set, work ethic and professional development. The first set of criteria would relate directly to individual's impact to the vision and objectives of the company. The plant manager should be as specific as possible to help quantify the engineers’ contributions. The second set should be measures concerning a variety employee skill sets such as technical ability, communication, documentation, problem-solving, and adherence to the company’s philosophy. Identifying the engineer’s strengths and weaknesses on diverse skill set criteria will help the engineer gain a wider understanding of his performance overall. The third set of criteria concerns itself with an employee’s work ethic. Work ethic criteria include the amount of work missed, lateness arriving for a job, how well the employee is motivated, positive communication with peers and management, and how well the employee interacts with co-workers and management. The final set of criteria includes a how much an employee is committed to furthering their knowledge and expertise of their given profession. Organizations look positively on employees that strive for greater expertise in their given professions. Managers