Unemployment

As we are nearing the end of this memorable 2020, it is time to reflect and analyze how our economy has been affected by the pandemic. At the start of 2020, we were experiencing record LOW unemployment and the economy was growing nicely. How things changed in the first quarter of 2020!!

In our discussion, we will research and analyze

1- changes in GDP (include what you have learned in the textbook about how fast we would like to see the economy grow) – on a quarterly basis

2- changes in the unemployment rate – on a monthly basis (make sure that you use the data in your post)

3- the concept of discouraged workers and how they affect the actual rate of unemployment

4- how consumption has shifted – what industries gained and which lost

5- impact on the population (you could pick one group like the medical field, delivery….) and see how this affected them medically, socially, and psychologically. You could also look at a certain age group (children, young adults, the old population in retirement homes)

6- Education – distance education for elementary schools, college, training for jobs……..

7- Work environment: working from home- pros and cons, the future of work options….zoom, personal face to face interaction

8- Which industries gained and which lost – entertainment, airlines, travel, home delivery, communication online (zoom, etc), at home (office furniture, home gyms….)

For that, you will need to make sure that:

1- Pick ONE of the aspects listed above (one of the 8) and expand giving statistical data whenever possible. This is an economics class so numbers are a good reference point.

2- It is important that you have read what others have posted before you. Repetitive information will not be counted

3- include a live link to an article supporting your position

4- answer at least one of your colleagues – this is a discussion after all 🙂

5- your post should be well organized (so not cut and paste!! it is your view of the issues) and should not exceed 250 words. For more information on Unemployment check on this: https://en.wikipedia.org/wiki/Unemployment

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