LaunchPad for Krugman's Economics 4e (Twelve-Month Access)
4th Edition
ISBN: 9781319011017
Author: Paul Krugman, Robin Wells
Publisher: Worth Publishers
expand_more
expand_more
format_list_bulleted
Question
Chapter 23, Problem 1BCQ
To determine
The role of temporary staffing in the economy.
Concept Introduction:
Temporary Staffing: Temporary staffing refers to a situation when the employees are employed only for a specified period for a specific task. When that task is completed, the employment is terminated.
Expert Solution & Answer
Explanation of Solution
- As per the given data, in 2007, 1.781 million unemployed people got into jobs whereas 1.929 working people got unemployed. This implies that there existed temporary employment and
unemployment in 2007.
- Between the recession period of 2007-2009, temporary employment decreased from 2% to 1.4% while after 2009, it increased back to 2% in 2014 because after recession period, employers were not stable enough to give full time employment.
- After this, the economy showed growth. During the growth period, the web-based companies came into existence.
- These web-based companies hired a large chunk of workers as temporary staff and freelancers which helped economy to grow further.
Conclusion:
Thus, temporary staffing played an important role in the economy.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Chapter 23 Solutions
LaunchPad for Krugman's Economics 4e (Twelve-Month Access)
Knowledge Booster
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education