Description of the Economic Concept (K/U): Scarcity is a major economic problem that arises because people have unlimited wants but resources are limited. Since there is a relative scarcity of these resources, we will always live with the economic dilemma of our wants exceeding our ability to satisfy them.
Article #1
Is the EI system making it more attractive not to work? By Sarah Bosveld, National Post | May 18, 2012
Darren Calabrese/National Post
Canadians aiming to high, whether they are spoiled, unwilling to take on jobs that are deemed “beneath” them
Citizen Minister Jason Kenney states that people need to revalue work itself and encourage others think more broadly and open their horizons
Finance Minister Jim Flaherty states there’s no only bad job is having no job
Some areas, they have found themselves competing with the EI system for workers who are weighing opportunity costs
Many Canadians believe they are above whole bunch of different occupations, and yet some Canadians depend desperately on people to take these jobs to better their own quality life
EI abused by people who return to it again and again
22% of small businesses owner’s trouble hiring people on EI, as workers said they would rather continue collecting benefits than work in the more hands-on jobs.
Opinion:
In my own opinion, I feel that once people get laid off their jobs and go on EI, they will soon take advantage of the fact that they are still getting paid without having to work. Especially for peoples who are only able to get jobs at a minimum wage pay, they would rather be on EI since you roughly get the same amount of money, therefore they wait until a better job offer comes ahead instead of working at some place that they think is “beneath” their level of career. People who have a high level of education and goes on EI, I feel it’s a waste of time, because it would benefit them more to go out there and look for another job under their field of career. However, EI is a good way for people who are low skilled and need the money for personal support.
Analysis: Employment insurance will increase in the economy if more and more people become unemployed. If recessionary period s prolonged, the number of people on welfare rolls will also increase. Even though EI will help people live off better and survive, these payments will help to increase consumption so that downward pressure on aggregate demand will somewhat be cushioned. Work place will eventually lose a lot of skilled workers due to the EI program since a lot of people will intend to reply on it.
Article #2
Canadian unemployment is rising, but so is a worker shortage. How both can be true By Dave Mabell, Lethbridgeherald | Decemeber 6, 2011
Recent Grads not able to get jobs
Companies only allowing high skilled workers
Low-skilled but high-paying jobs moved offshore, leaving low-paying jobs, or professional jobs that require specific technical skills with few people to fill
Current generation lose large portion of workforces as baby boomer gen retires
Without skilled workers, Canada can’t be competitive globally and can’t drive growth
Employees need to have more high standard of skills to enter work place
Businesses beginning to focus on “growing their own talent”
Recruiting only smart, talented grads off campuses and training for specific jobs
Opinion: After reading this article, I feel as if some work places are stricter with the requirements in order to hire these workers. Also, every job is so competitive in this century that we live in with many people who apply even after graduating. Therefore, this makes the work place becoming stern on the skills that people have in order to apply and hire them. Canada needs highly skilled workers in order to benefit there country to run by smoothly economically. We can see that in this century, a lot of job requires a number of years in post-secondary school. Not only are these jobs hoping that people only finish post-secondary, but also moving further ahead into their studies for a more efficient amount of knowledge in order to enter in the work place.
Analysis: Levels of unemployment are reduced because more of the labour force is able to find work. With more workers employed, I feel as if the demands for consumer good will increase. If companies are looking for workers with a high skilled of education, this might give them a harder chance to look. Therefore, leaving them with a fewer amount of employees that are needed.
Inquiry Questions:: 1. What are the main issues that involve unemployment? 2. We know that unemployment is sometimes caused by recession, but what other facts cause people to be jobless? 3. If you only had the skills to be working for a job that pays minimum wage, would you rather depend on employment insurance or actually working for a job? Explain your reasoning.
Description of the Economic Concept (K/U):
Scarcity is a major economic problem that arises because people have unlimited wants but resources are limited. Since there is a relative scarcity of these resources, we will always live with the economic dilemma of our wants exceeding our ability to satisfy them.
Article #1
Is the EI system making it more attractive not to work?
By Sarah Bosveld, National Post | May 18, 2012
Opinion:
In my own opinion, I feel that once people get laid off their jobs and go on EI, they will soon take advantage of the fact that they are still getting paid without having to work. Especially for peoples who are only able to get jobs at a minimum wage pay, they would rather be on EI since you roughly get the same amount of money, therefore they wait until a better job offer comes ahead instead of working at some place that they think is “beneath” their level of career. People who have a high level of education and goes on EI, I feel it’s a waste of time, because it would benefit them more to go out there and look for another job under their field of career. However, EI is a good way for people who are low skilled and need the money for personal support.
Analysis:
Employment insurance will increase in the economy if more and more people become unemployed. If recessionary period s prolonged, the number of people on welfare rolls will also increase. Even though EI will help people live off better and survive, these payments will help to increase consumption so that downward pressure on aggregate demand will somewhat be cushioned. Work place will eventually lose a lot of skilled workers due to the EI program since a lot of people will intend to reply on it.
Article #2
Canadian unemployment is rising, but so is a worker shortage. How both can be true
By Dave Mabell, Lethbridgeherald | Decemeber 6, 2011
Opinion:
After reading this article, I feel as if some work places are stricter with the requirements in order to hire these workers. Also, every job is so competitive in this century that we live in with many people who apply even after graduating. Therefore, this makes the work place becoming stern on the skills that people have in order to apply and hire them. Canada needs highly skilled workers in order to benefit there country to run by smoothly economically. We can see that in this century, a lot of job requires a number of years in post-secondary school. Not only are these jobs hoping that people only finish post-secondary, but also moving further ahead into their studies for a more efficient amount of knowledge in order to enter in the work place.
Analysis:
Levels of unemployment are reduced because more of the labour force is able to find work. With more workers employed, I feel as if the demands for consumer good will increase. If companies are looking for workers with a high skilled of education, this might give them a harder chance to look. Therefore, leaving them with a fewer amount of employees that are needed.
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Inquiry Questions::
1. What are the main issues that involve unemployment?
2. We know that unemployment is sometimes caused by recession, but what other facts cause people to be jobless?
3. If you only had the skills to be working for a job that pays minimum wage, would you rather depend on employment insurance or actually working for a job? Explain your reasoning.