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Why do we have unemployment?

Date : April 8, 2013 Topic : Unemployment Aim : How does unemployment manifest itself? Do Now : Multiple Choice Questions. . Why do we have unemployment?. IM NOT UNEMPLOYED! I WORK!. Frictional Unemployment. When people take time to find a job. Can you think of any examples?

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Why do we have unemployment?

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  1. Date: April 8, 2013Topic: UnemploymentAim: How does unemployment manifest itself?Do Now: Multiple Choice Questions.

  2. Why do we have unemployment?

  3. IM NOT UNEMPLOYED! I WORK!

  4. Frictional Unemployment • When people take time to find a job. • Can you think of any examples? • Ex 1: leaving a job and then looking for work or the time to find a job after schooling. Ex: time between finishing school and getting a job. MCHUGH’S TIP TO AVOID BEING FRICTIONALLY UNEMPLOYED AFTER COLLEGE TAKE YOUR INTERNSHIP OR STUDENT TEACHING EXPERIENCE SERIOUSLY!

  5. Seasonal Unemployment • When industries slow or shut down for a season or make seasonal shifts in production schedules. • What are some examples of seasonal unemployment? • Ex: Farming or students between school and finding a summer job. WHY SO GLUM CHUM? Working in retail during the holiday season   Grape picking at the vineyard

  6. Structural Unemployment • Workers skills do not match the jobs that are available. • Why/where would we have this? • 1.) The development of new technology. • 2.) The discovery of new resources. • 3.) Changes in consumer demand. • 4.) Globalization. • 5.) Lack of education.

  7. Cyclical Unemployment • Unemployment that rises during economic downturns and falls when the economy improves. UNEMPLOYMENT RATE MARCH 2013 = 7.6%

  8. Full Employment/Under Employment • Full Employment level of employment reached when there is no cyclical unemployment. • Always be some unemployment – Ex: Frictional • Underemployment  working a job for which you are over-qualified. • Ex: You have a doctorate but you are launching t-shirts at a Ducks game.

  9. Unemployment Benefits • Q: What employment do I need to qualify for benefits?A: • You must have worked and been paid wages for work in at least two calendar quarters in your base period,     ANDYou must have been paid at least $1,600 in wages in one of the calendar quarters in your base period,      ANDThe total wages paid to you in your base period must be one and one-half times your high quarter wages.We use no more than $8,910 of your high quarter earnings to determine if you qualify. You must have earned at least half that amount ($4,455) in the other base period quarters. If you qualify using the Basic base period, we use that period to establish your claim.

  10. Unemployment Benefits • How do I know if I may file a claim?A: By law, the unemployment insurance program provides benefits to people who: • Have enough employment to establish a claim • Have lost employment through no fault of their own • Are ready, willing and able to work and • Are actively seeking work • If you worked in New York State within the last 18 months, you have the right to file a claim for benefits. • You must meet the qualifying conditions set by law to qualify for benefits.

  11. HOMEWORK • Notebook Test 1 week from today. • Please hand in all work.

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