Summary 2
Summary:
A research conducted for the unemployment effects on economic crises and its abrupt decrease rate due to some implications. Americans managed worst economic situation by suggesting a shortage of skilled workers. Unemployment rate fall abruptly in October to 7.4% without high school diploma workers. And this rate was sharp decrease from 7.9% in September reported by Labor Department. It is said that this was best rate in October during 2008. A construction company announced more than 31,000 jobs in October. An unemployment for civilians seasonally adjusted by attainment of education. For averaged school dropouts in 2014 unemployment rate was still at 9%. Which was high by comparison to 6% who don’t attend college for Americans it is 3.2% who have bachelor’s degree. People have higher degree their participation rate for work is far higher than people who have lower level degrees education. Participation rate become high for the people who are less than high school diploma from 40% to 45.5%. $0% was that rate in second quarter and 44.8% in third quarter of last year. It is not due to people search more for job, jobs are provided to them. A research conducted in which retail sector Amazon suggest that they will provide more than 100,000 jobs to people in that year to workers for holidays which was high from last year 80,000 jobs. Government said that there are retail stores participate more to reduce unemployment by clothing and accessory stores. A research conducted by Labor Department that there are 42,000 hiring by restaurant and bars and 31,000 hiring by construction companies. Wal-Mart Stores Inc., biggest employer of country have not conducted hiring during holidays in that year. Steve Hipple said that there are more wage growth for educated people as high school diploma but there is low increase 0.08 in third quarter in year for less than high school diploma. There is issue of lack of skills and qualified workers who can work efficiently and able to work required by them. Employers claimed that they have difficulty to fill open vacancies, because all the applicant are not enough efficient to work with them. National Federation of Independent Business elaborate the issue of 27% small business owners report about the open vacancy couldn’t fill. They find qualified workers for electric and plumbers for growing firm and have difficult to find enough professional. Economist have their own views about labor market, organizations and workers who are unemployed. There are volatile number of unemployed persons, and they do not have attended high school. This case study elaborate the views and thinking of owners of businesses and about the people have not attended high school. There is need for implications to reduce unemployment rate but there is issue of non-qualified workers. They have not enough competences to qualify for the vacant position available in organization. Vacancies open in large for the reason to reduce unemployment rate but most of unemployed have not enough core capabilities for work requirement fulfill. A need to work for right position it must be able to qualify the work requirement, so hiring will in right way.
There are open vacancies for the people who want job. More opening make more supply of jobs which in turn reduce the unemployment rate. Another issue reduce the need of jobs, which is non-qualified people. When there are jobs they do not enough capable to get job or work there in organization. Supply of jobs increase in market by providing more vacancies by construction companies make reduce in unemployment rate.