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 UnemploymentWhen 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!

Seasonal UnemploymentWhen 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.

Grape picking at the vineyard

Working in retail during the holiday season

WHY SO GLUM CHUM?

Structural UnemploymentWorkers 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.

Cyclical Unemployment

Unemployment that rises during economic downturns and falls when the economy improves.

UNEMPLOYMENT RATE MARCH 2013 = 7.6%

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.

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.

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.

HOMEWORK

Notebook Test 1 week from today.

Please hand in all work.