Definitions:
*GDP-gross domestic product
As I was skimming over the articles on the New York Times website, one article about unemployment caught my eye. Toward the end of the article, Krugman, the man who wrote our new Economics book, was mentioned! Acoording to the article some critics suggest that unemployment benefits are being taken up by people who do not want to return to work. Those who are evaluating tis situation say that because the benefits of the unmployment insurance are cushioned, people find it more comfortable to stay unemployed instead of going back to work. Krugman argues that the unemployed cannot be guaranteed a job when the product or service they make is not being demanded due to the recession. However, studies were shown that e=when given an unemployment benefit exhaustion date, people would find a job one week prior to the exhastion date.
From an economic standpoint, it is difficult to rid our nation of the recession quickly if we have less workers to help pick the economy off of it's feet. When more people have jobs, they contribute to the amount of product being supplied, but do people have enough money to demand more of what is supplied? This law of supply and demand is again introduced in relation to jobs. It is difficult to climb out of a recession with this law obstructed.
I think that some people do use theri unemployment benefits because they feel comfortable not working, but on the other hand, there are a great many who truly cannot find jobs after being unexpectedly fired or laid off. It is a very delicate situation to try and fix the problem when we're not sure if the unemployment are being used out of want or need.
Article: http://economix.blogs.nytimes.com/2010/03/17/do-jobless-benefits-discourage-people-from-finding-jobs/#more-57175
(Originally posted 3/21/10)
Tuesday, March 30, 2010
Tuesday, March 16, 2010
Giving Jobs with No Taxes! Yay!
Definitions:
*bipartisan-supported by both parties
*tax credit-a direct reduction in tax liability
"By a biparisan vote of 61 to 30, the Senate eliminated the final procedural obstacle to approval later this week of a bill that would exempt employers from payroll taxes throught the end of the year on newly hired employees who have been out of work for at least 60 days." This has been one of the first legislations to have both Republican and Democrat support. Senators like Harry Reid of Nevada are anxious to get this "jobs measure" passed by the President so that people will begin getting hired within the next few days. "Democratic supporters of the bill said the measure would create hundreds of thousands of new jobs while providing tax benefits to small businesses that make investments in their operations." When employees are kept for at least one year, the small busoinesses receive $1000 tax credit which means they would be saving money. There also a measure in the process of being evaluated that would provide a safety net for employees who go through unexpected, unpaid periods.
This bill was passed to hopefully encourage businesses to provide more jobs to people. Through this measure, businesses can help lower the jobless rate by giving people jobs while saving themselves money too.
Though it took a while to pass this new "no taxation" measure, because of the attention shift to the health care bill, it will still be effective. This is only one more step toward eding our recession and the vast number of people who have lost their jobs. Hopefully this bill works in the favor of our American citizens so that they can feed their families while stimulating our economy.
Article: http://www.nytimes.com/2010/03/16/us/politics/16cong.html?ref=economy
(Originally posted 3/16/10)
*bipartisan-supported by both parties
*tax credit-a direct reduction in tax liability
"By a biparisan vote of 61 to 30, the Senate eliminated the final procedural obstacle to approval later this week of a bill that would exempt employers from payroll taxes throught the end of the year on newly hired employees who have been out of work for at least 60 days." This has been one of the first legislations to have both Republican and Democrat support. Senators like Harry Reid of Nevada are anxious to get this "jobs measure" passed by the President so that people will begin getting hired within the next few days. "Democratic supporters of the bill said the measure would create hundreds of thousands of new jobs while providing tax benefits to small businesses that make investments in their operations." When employees are kept for at least one year, the small busoinesses receive $1000 tax credit which means they would be saving money. There also a measure in the process of being evaluated that would provide a safety net for employees who go through unexpected, unpaid periods.
This bill was passed to hopefully encourage businesses to provide more jobs to people. Through this measure, businesses can help lower the jobless rate by giving people jobs while saving themselves money too.
Though it took a while to pass this new "no taxation" measure, because of the attention shift to the health care bill, it will still be effective. This is only one more step toward eding our recession and the vast number of people who have lost their jobs. Hopefully this bill works in the favor of our American citizens so that they can feed their families while stimulating our economy.
Article: http://www.nytimes.com/2010/03/16/us/politics/16cong.html?ref=economy
(Originally posted 3/16/10)
Sunday, March 7, 2010
Here, Let Me Help You Get Off the Couch...for $400
Definitions:
*pro bono- done for the public good without compensation
*C.P.A.- certified public accountant
Recently, not many college graduates have been getting jobs after graduating. According to employer's estimation, the number of college graduates that get hired has declined by 21.6 percent and is planned to drop 7 more in the present year. Despite these discourging numbers, Lesley Mitler has a possible solution to this problem. She is a "long-time recruiter for Wall Street and a former C.P.A." and she has a "get them off the couch" strategy. She is getting paid $400 an hour to coach recent college graduates on how to land their first job. Her business, Priority Candidates, has teamed up with Greenberg Educational Group, a tutoring company in New York that already specializes in SAT prep and college advising." This program was most likely executed in response to words stated by authors like JEan Twenge, who think college graduates are incapable of progressing though their own futures. Jean Twenge wrote "Generation Me" which suggested that the newer generation is not prepared for the challenging job market. She also noted that the newer generation expects others to do the work for them. So far, there is only one student taking the course, despite the 25 parents that showed up at the orientation. Because of Ms. Mitler's program this Boston College graduate is looking forward to being involved in music public relations and leaving her music publishing days behind.
Although Ms. Mitler had a good idea, I don't think it will be very effective as of right now. Since we are still in mid-recession, it will be hard for most college graduates or their parents to pay her $400 an hour. The fact that she only had one student out of 25 should prove this point. True, college graduates need jobs, but so do 10 percent of other Americans. It may also be true that some college graduates are lazy or distracted with websites like Twitter, Facebook, Skype, etc. but there are lots of others who are persistently looking for jobs.
Students may need a job in order to pay the $400 an hour, in which case the program would not be needed. I think it would be even more helpful if Lesley Mitler provided this program for free, so that more college graduates would be helped by the information given during the program. By making it a non-profit, free service, she could help college graduates across America, not just one. But why hasn't she thought of that? Is her motive really to help college graduates get jobs or to get mor money for herself? In my opinion, her motive for doing this determines how succesful her program will be.
Article: http://www.nytimes.com/2010/03/06/nyregion/06bigcity.html?ref=economy
*pro bono- done for the public good without compensation
*C.P.A.- certified public accountant
Recently, not many college graduates have been getting jobs after graduating. According to employer's estimation, the number of college graduates that get hired has declined by 21.6 percent and is planned to drop 7 more in the present year. Despite these discourging numbers, Lesley Mitler has a possible solution to this problem. She is a "long-time recruiter for Wall Street and a former C.P.A." and she has a "get them off the couch" strategy. She is getting paid $400 an hour to coach recent college graduates on how to land their first job. Her business, Priority Candidates, has teamed up with Greenberg Educational Group, a tutoring company in New York that already specializes in SAT prep and college advising." This program was most likely executed in response to words stated by authors like JEan Twenge, who think college graduates are incapable of progressing though their own futures. Jean Twenge wrote "Generation Me" which suggested that the newer generation is not prepared for the challenging job market. She also noted that the newer generation expects others to do the work for them. So far, there is only one student taking the course, despite the 25 parents that showed up at the orientation. Because of Ms. Mitler's program this Boston College graduate is looking forward to being involved in music public relations and leaving her music publishing days behind.
Although Ms. Mitler had a good idea, I don't think it will be very effective as of right now. Since we are still in mid-recession, it will be hard for most college graduates or their parents to pay her $400 an hour. The fact that she only had one student out of 25 should prove this point. True, college graduates need jobs, but so do 10 percent of other Americans. It may also be true that some college graduates are lazy or distracted with websites like Twitter, Facebook, Skype, etc. but there are lots of others who are persistently looking for jobs.
Students may need a job in order to pay the $400 an hour, in which case the program would not be needed. I think it would be even more helpful if Lesley Mitler provided this program for free, so that more college graduates would be helped by the information given during the program. By making it a non-profit, free service, she could help college graduates across America, not just one. But why hasn't she thought of that? Is her motive really to help college graduates get jobs or to get mor money for herself? In my opinion, her motive for doing this determines how succesful her program will be.
Article: http://www.nytimes.com/2010/03/06/nyregion/06bigcity.html?ref=economy
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