Bellwork

1
Bellwork

• How concerned are you about being able to find a
  job when you enter the labor force?
• Ten years from now,
• Do you think it will be easy or hard to get a
  job?
• What about keeping a job?
• What could prevent you from getting the job they
  want?

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Labor Trends and the Economy

• Standard 12.4.2 describe the current economy
  and labor market including the types of goods and
  services produced, the types of skills workers
  need, the effects of rapid technological change
  and the impact of international competition.

Essential Question How is the US labor force
changing?
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Economics define the labor force as all
nonmilitary people who are employed or unemployed.

• Unemployment
• People are considered unemployed if they are 16
  years or older and meet the following criteria
• They do not have a job and
• They have actively looked for work in the prior 4
  weeks and
• They are currently available for work.

• Employment
• People are considered employed if they are 16
  years or older and meet at least one of the
  following requirements
• They worked a least one hour for pay within the
  last week or
• They worked 15 or more hours without pay in a
  family business or
• The held jobs but did not work due to illness,
  vacations, labor disputes, or bad weather.

How is the US labor force changing?
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Occupational Trends

• A Changing Economy
• The economy of the United States has transformed
  from a mainly agricultural economy in the 1800s,
  to an industrial giant in the 1900s.

• Fewer Goods, More Services
• Overall, the United States is shifting from a
  manufacturing economy to a service economy.
• As service jobs increase, the nation is losing
  manufacturing jobs to other countries where labor
  is cheaper.
• Demand for skilled labor is rising, and the
  supply of skilled workers is increasing to meet
  the demand.

How is the US labor force changing?
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The Changing Labor Force
College Graduates at Work The screening effect
theory suggests that the completion of college
indicates to employers that a job applicant is
intelligent and hard-working. The learning
effect is the theory that education increases
productivity and results in higher wages.
How is the US labor force changing?
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Education and Income

• Potential earnings increase with increased
  educational attainment.

Over the past 20 years, earnings for college
graduates have increased, while earnings for
workers without college degrees have decreased.
Source U.S. Census Bureau
How is the US labor force changing?
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People are talking

• What have you heard or read about people working
  or not working in today's economy?
• Do you know of anyone who has had to take an
  unexpected career path due to the economic
  downturn?

How is the US labor force changing?
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United States - Monthly Data
Data Series Mar 2013 Apr 2013 May 2013 June 2013 July 2013 Aug 2013
Unemployment Rate (1) 7.6 7.5 7.6 7.6 7.4 7.3
Change in Payroll Employment (2) 142 199 176 172 104 169
Average Hourly Earnings (3) 23.83 23.89 23.90 24.00 24.00 24.05
United States - Monthly Data
How is the US labor force changing?
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California Rates
Data Series Mar 2013 Apr 2013 May 2013 June 2013 July 2013 Aug 2013
Civilian Labor Force 18,629.4 18,624.4 18,643.2 18,645.9 18,611.5 18,580.7
Employment 16,880.2 16,951.6 17,035.1 17,053.1 16,988.0 16,935.0
Unemployment 1,749.2 1,672.8 1,608.1 1,592.8 1,623.4 1,645.7
Unemployment Rate 9.4 9.0 8.6 8.5 8.7 8.9
How is the US labor force changing?
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Projected Trends

• What do you think you can do now to get a job and
  stay employed in the future? One strategy is to
  begin designing a working plan that matches your
  interests with projected labor force trends.
• Share your plans with your seat partner. Tell
  them about the career and expectations of growth.
  What are you doing to prepare yourself for your
  future employment? Has the current economic
  situation had any effect on your plans or your
  preparation? Who can help you achieve your goals?

How is the US labor force changing?
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What do you know about the labor force?

• What do you know about the current U.S. labor
  force?
• Are there more men or women in the labor force?
• More Caucasians, African Americans, or Asian
  Americans?
• What percent of the labor force participates in
  the market?

How is the US labor force changing?
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What do you know about the labor force? (the
answers)

• What do you know about the current U.S. labor
  force?
• Are there more men or women in the labor force?
• More Caucasians, African Americans, or Asian
  Americans?
• What percent of the labor force participates in
  the market?

• there more men
• Caucasians
• 64

How is the US labor force changing?
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Projected Trends

• As a group you have five seconds to decide will
  this the number of people in this occupation
  increase by 2020 or decrease?

How is the US labor force changing?
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Projected Trends

• Home health aides
• Postal service workers
• Farmers
• Event Planners

How is the US labor force changing?
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Assignment

• Page 217 1-3

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• http//www.nytimes.com/interactive/2013/09/25/busi
  ness/Womens-Progress-Stalls.html?refeconomy