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 Unemployment  When 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 Unemployment  When 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 Unemployment  Workers 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. Underemployment  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, AND You must have been paid at least $1,600 in wages in one of the calendar quarters in your base period, AND The 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.