3 Workplace Types and the Economy

Career and Financial Management
Workplace Types and the Economy
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.
The Workplace
Workplace: where work is doneEach job has a specific workplaceEach workplace has its own “cultureFormal vs. InformalAttire, Behavior, and Interactions
Formal Workplace
AttireSuit or dressUniformInteractionsSerious environmentLimited laughing and joking with co-workersBehaviorsOn-time – set scheduleFollow strict rules
Informal Workplace
AttireCasualInteractionsRelaxed with boss or co-workersBehaviorWork hours often flexibleFewer rules
The Workplace
Each workplace is differentDepends on the work being done and the workersWorkplaces can be different within the same jobA job that fits your interests and skills helps you feel comfortable in your workplace
The Bottom Line
What is the Economy?
Economy: the way goods and services are produced, distributed, and consumed in a societyStrength of the economy depends on the balance of production and consumption of goods and services
A Strong Economy
Individuals and businesses depend on one another to have a strong economy
A weak economy can leadtoRecessionDepression
A Balanced Economy
Paymentof Wages
Payment forProducts & Services
BUSINESS
WORKERS
$
The Economy & Interest Rates
Interest Rates: reflect the cost of borrowing money
HIGH INTEREST RATESMore expensive to borrow moneyDecrease in spending
LOW INTERESTRATESLess expensiveto borrow moneyIncrease inspending
The Bottom Line
The Business Cycle
JOB GROWTH
TIME
More demand forproducts and services
More demand
Less demand forproducts and services
Less demand
Business Cycle Changes
What causes the changes in the business cycle?Major EventsStock Market CrashOlympic GamesCost of oil and products from other countriesCost of products sold in the United States
Downturns in the business cycle
When the business cycle changes, specific industries are directly affectedHomebuildingUnemployment
Additional Causes of Unemployment
Reduced demand for jobNew inventions & technologyTypewriterrepairSeasonalWorkChanges in season or weatherLifeguard
Job Security
Job security: freedom from fear of losing one’s jobHighjob securityPolice officerNursingGovernment OfficialLow job securityConstructionSalespeopleManagement
What can you do?
If you are at risk of becoming unemployed:Be awarePlan aheadSave moneyAdditional education
The Bottom Line
Employment
EmployedGrowth in the business cycleIncreaseddemandHighjob security
UnemployedDecline in business cycleReduced demandSeasonal work
Workplace Types and the Economy
“Whois counted as unemployed?” Listthe three qualificationsrequiredfor a person to be classified as unemployed.1.2.3.Whatactivities can a person participate in to be considered“actively looking”for a job?Whydo 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.
Workplace Types and the Economy
Considerthe 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)
Workplace Types and the Economy
“Who is counted as unemployed?” List the three qualifications required for a person to be classified as unemployed.cannothave ajobmusthave actively looked for work in the last fourweeksmustbe available towork
Workplace Types and the Economy
What activities can a person participate in to be considered “actively looking” for a job?Aperson 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.
Workplace Types and the Economy
Whydo 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.Studentanswers will vary, but students should discuss thegovernment’sdefinition of unemployment and how they feel it works and does notwork.
Workplace Types and the Economy
The basic concepts involved in identifying the employed and unemployed are quite simple:People with jobs are employed.Peoplewho are jobless, looking for jobs, and available for work are unemployed.Peoplewho are neither employed nor unemployed are not in the labor force.
http://www.bls.gov/cps/cps_htgm.htm
Workplace Types and the Economy
Considerthe 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)Studentresponses 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.