The labor market entails the relations between the demand for labor, in one hand, and labor supply, on the other hand. Labor demand is defined by the amount of labor firms demand in order to produce certain amount of goods and services. Labor supply refers to the productive segment of the population that is determined by the size of the population. Within the labor market, workers can be classified as either economically active (the employed and the unemployed) or economically active. The employed encompasses people in paid employment or in self employment while the unemployed refers to people who are not working but have actively been looking for job and are willing to start work immediately. A person is classified as economically inactive if they are neither looking for work nor are they ready to start work. The labor force participation and the unemployment rate are major indicators of the health of an economy. This paper will compare the economies of the United Kingdom and Germany as well as their labor market (Shimer 2010).
Germany has the largest economy in Europe and the fifth largest in the world. Germany is known for its high quality machinery, vehicles, chemicals and household equipment that form the bulk of its exports. Its vast manufacturing industry has thrived as a result of the existence of a large pool of highly skilled labor force. The country boasts of the world’s most advanced networks in energy, roads, aviation, telecommunications, rail and roads. The German economy is dominated by small and medium-sized enterprises that provide employment to 70 percent of the country’s labor force. While SMEs in the rest of the world are too small to enjoy the economies of scale or even access the international market, Germa...
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The United States is ranked 11th in GDP, which is very healthy considering that is has been growing and we should expect it to continue growing. America’s most recent GDP per capita statistic shows that we are at $54.6k . Germany’s GDP is healthy considering its population density. Germany ranks number 16 in the world for GDP Per capita at with 46.4k per capita (OEC.edu). The United States GDP increased by the thousands showing a large increase in the flow of employment throughout the country. Meanwhile Germany’s GDP has increased aswell but not at the same rate with major drops in the past 50 years. The statement is surprising due to fact that their unemployment rate is lower than that of the united
Germany’s Economic System the Federal Republic of Germany’s economy has now flourished despite its harsh times that have been faced throughout the decades. Most people know about Germany from its historic involvement in World War II; its successful campaign to unite East and West with the successful collapse of the Berlin Wall; and its world class development and production of automobiles. Unfortunately, what most people don’t know is that Germany continues to fight an uphill battle in keeping its established ranking among the world’s most important economic powers.
•The Heritage Foundation. (2014). 2014 Index of Economic Freedom. Retrieved from The Heritage Foundation: http://www.heritage.org/index/country/germany
The country of Germany is one of the strongest economies in Europe as a whole. A brief history and overall status of this country is going to be explained giving examples and demographics. Along with my understanding of the information, I will try to help you understand the importance of this country’s overall macroeconomic stance that contributes to today’s wealth of the European Union.
Arrivals, from the same year, from all countries of persons of German race were 29,682 and Hebrew arrivals were 60,764. Changing the Character of Immigration, Pg. 103. 1) Unfortunately, with such a large influx in population during a short amount of time and other variables such as immigrants being unable to speak English, inadequate affordable urban housing, and insufficient jobs, a large amount of immigrants ended up in growing slums without the feeling of security or knowledge of how to find help, if there was any, from an unrepresentative government. These factors transformed incoming immigrants into easy prey for patronage from the political machine and sustained them by giving their votes. In the 1930’s, mass immigration had stopped and representative government had begun, leading to a decline in patronage needed by then integrated immigrants and a decline in votes for the machine....
"Macroeconomics/Employment and Unemployment." Macroeconomics/Employment and Unemployment - Wikibooks, Open Books for an Open World. N.p., n.d. Web. 04 July 2017.
Stiglitz, J. (2009). The global crisis, social protection and jobs. International Labour Review, 148, 12,
Cohen, Y and Zach. T. (1997). The Labor Market status of Immigrants: Effects of the
Even though it’s a stereotype that the German people are extremely hard workers, they can still have fun. Germany is a country that contains roughly around 81 million people. 95% of those able bodied people are employed and working. Industries hire one third of the German workforce, while others work in some other way. Germany has many factories and it also mines a lot of coal, as it is one of its’ most important resources. Al...
The largest immigrant population in the world has been known to seek plenty of refuge, here in the United States. Although America is only the third most populated country in the world, we are known to be the “most populated” simply because of the growing amount of immigrants that come yearly. The immigration policy that is maintained here in the United States has always been a very argumentative topic. There is plenty to say on the mere and obvious differences in cultural lifestyles and issues, however it is arguable to say that the effects of the economy and immigration are quite easy to understand. Through analyzation of an economic perspective, there has been little to no support that is behind the notion that arrivals of immigrants and their labor practices have had a deliberate and harsh impact on the jobs that are available for Americans. My argument, along with further economic theory predictions and academic
Sherbondy, Donald J. 1930. “Effect of Unemployment Upon Immigration into the U.S.” Cumulative Digest of International Law and Relations 12:1-2.
As different issues relating to global financial crisis and its effect on employment in European Union were brought up in the article, this report aims to analyze the unemployment situation and inflation in Europe with the aid of economic theories. In the report, the following aspects have been considered: consumer prices and how they affect inflation, unemployment and how it is related to inflation and finally,...
Analysis of the labor market in the economy reveals a reduction in vacancies while the number of job seekers significantly increases over the past few decades (Dickerson, 2008, p.1). Particularly, the youth employment looks worrying with a serious downward trend with so many of them unemployed. The numbers of free people who are full educated or trained have also decreased. The unemployed in the economy are either inactive or unemployed. The annual changes continue to show a rise in unemployment of young people both for student and others. With lack of government employment as well as training programs, many individuals opt to seek for self-employment (Dickerson, 2008, p.1). Statistic continues to show that there has been an increase of workless people in comparison to the vacancies available. The general picture, therefore, remains that labor market constantly fails to meet the needs of people regarding employment. Although this is the case, there has been some variation across regions with Scotland and Wales in the UK showing decreased performance. There remains a risk that employment will increase in the coming years. The present concern is long-term unemployment, specifically with regards to the youths who are most disadvantaged in the labor market (Dickerson, 2008, p.1).
In December 2007, the United States of America experienced a very scarce yet appealing setback. In fact, because of this specific dilemma between 200,000 and 500,000 were left unemployed and without a stable home. The national Bureau of the Economic research defined this nationwide downfall as “The great recession”. According to the U.S Bureau of labor statistics the unemployment rate has not made a drastic improvement since the start of the great recession. Unemployment has become that is still rising today with a slow rate of change. Unemployment is usually expressed as a number or as a percentage of a larger number. Although it has been ambiguous who has to be included in the percentage, there are members of society without a job, for whom it is certain that should not be added. Officially the unemployed are the people who are registered with the government as willing to work and able to work at a going wage rate but can’t find suitable employment despite an active search for work. In the article “why long-time employment can’t get back on track”, the author begins speaking on a ...
"The Labour Market Effects of Immigration." The Migration Observatory. N.p., n.d. Web. 13 Mar. 2014. .