1. Career and Financial Management
Workplace Types and the Economy

2. Lesson Objectives 1.Compare and contrast workplaces types.
2.Define economy and describe how individuals and businesses impact the economy.
3.Evaluate the business cycle and determine its impact on employment.

3. The Workplace Workplace: where work is done
Each job has a specific workplace
Each workplace has its own “culture
Formal vs. Informal
Attire, Behavior, and Interactions

4. Formal Workplace Attire Interactions Behaviors Suit or dress Uniform
Serious environment
Limited laughing and joking with co-workers
Behaviors
On-time – set schedule
Follow strict rules

5. Informal Workplace Attire Interactions Behavior Casual
Relaxed with boss or co-workers
Behavior
Work hours often flexible
Fewer rules

6. The Workplace Each workplace is different
Depends on the work being done and the workers
Workplaces can be different within the same job
A job that fits your interests and skills helps you feel comfortable in your workplace

7. The Bottom Line The Workplace Formal Informal Attire Interactions
Behavior
Attire
Interactions
Behavior

8. What is the Economy?
Economy: the way goods and services are produced, distributed, and consumed in a society
Strength of the economy depends on the balance of production and consumption of goods and services

9. A Strong Economy
Individuals and businesses depend on one another to have a strong economy
BUSINESSES
INDIVIDUALS
Produce Goods
Provide Labor
Pay Workers
Buy Goods & Services
A weak economy can lead to
Recession
Depression

10. $ A Balanced Economy Payment of Wages BUSINESS WORKERS Payment for
Products & Services

11. The Economy & Interest Rates
Interest Rates: reflect the cost of borrowing money
HIGH INTEREST RATES
More expensive to borrow money
Decrease in spending
LOW INTEREST RATES
Less expensive to borrow money
Increase in spending

12. Relationship between workers and businesses
The Bottom Line
Relationship between workers and businesses
Balanced
Imbalanced
Strong Economy
Weak Economy

13. The Business Cycle JOB GROWTH TIME Less demand for
products and services
More demand
Less demand
products and services
More demand for
TIME

14. Business Cycle Changes
What causes the changes in the business cycle?
Major Events
Stock Market Crash
Olympic Games
Cost of oil and products from other countries
Cost of products sold in the United States

15. Downturns in the business cycle
When the business cycle changes, specific industries are directly affected
Homebuilding
Unemployment

16. Additional Causes of Unemployment
Reduced demand for job
New inventions & technology
Typewriter repair
Seasonal Work
Changes in season or weather
Lifeguard

17. Job Security Job security: freedom from fear of losing one’s job
High job security
Police officer
Nursing
Government Official
Low job security
Construction
Salespeople
Management

18. What can you do? If you are at risk of becoming unemployed: Be aware
Plan ahead
Save money
Additional education

19. The Bottom Line Employment Unemployed Decline in business cycle
Growth in the business cycle
Increased demand
High job security
Unemployed
Decline in business cycle
Reduced demand
Seasonal work

20. Workplace Types and the Economy
“Who is counted as unemployed?” List the three qualifications required for a person to be classified as unemployed What activities can a person participate in to be considered “actively looking” for a job? Why do you think the government is concerned with the definition of unemployment? If you could change the definition, would you? If so, why? Justify your responses.

21. Workplace Types and the Economy
Consider the different types of workplaces in which people work. Describe your ideal workplace and why you selected that workplace. In your description, include the different workplace factors discussed in the lecture (formal v. informal, attire, behavior, interactions)

22. Workplace Types and the Economy
“Who is counted as unemployed?” List the three qualifications required for a person to be classified as unemployed.
cannot have a job
must have actively looked for work in the last four weeks
must be available to work

23. Workplace Types and the Economy
What activities can a person participate in to be considered “actively looking” for a job?
A person can actively search for a job by doing any of the following: contact employers, employment agencies, friends, relatives, employment centers; sending out résumés and filling out applications; placing or answering advertisements; checking union and professional registers.

24. Workplace Types and the Economy
Why do you think the government is concerned with the definition of unemployment? If you could change the definition, would you? If so, why? Justify your responses.
Student answers will vary, but students should discuss the government’s definition of unemployment and how they feel it works and does not work.

25. Workplace Types and the Economy
The basic concepts involved in identifying the employed and unemployed are quite simple: People with jobs are employed. People who are jobless, looking for jobs, and available for work are unemployed. People who are neither employed nor unemployed are not in the labor force.

26. Workplace Types and the Economy
Consider the different types of workplaces in which people work. Describe your ideal workplace and why you selected that workplace. In your description, include the different workplace factors discussed in the lecture (formal v. informal, attire, behavior, interactions) Student responses will vary, but should display an understanding of formal vs. informal workplaces and other factors that need to be taken into consideration when selecting a workplace. Students should be thoughtful and reflective in their responses, using complete sentences and proper grammar.