Explain Why The Government Should Play Active Roles In Managing Short-Run Instability In The Economy
al Written Assignment)
“Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.”
Do you agree with the above statement? Please explain your view.
Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.
Unemployment
Unemployment is the state where people are unemployed. This happens when there are new or re-entrant in the workforce or people who are already in the workforce lose or leave their jobs to look for another job. As there are always people with no jobs who are searching for one, it is not abnormal to have some unemployment in a country. The main reason is that the economy …show more content…
As technology is constantly changing, it will also change the scope of the jobs. Thus, CET aims to help workers to learn new skills and upgrade their skill to enable them to sustain their jobs. At the same time, it will also strengthen and improve the quality of Singapore’s workforce. It offers a wide array of programme for individuals. This will alleviate the unemployment as individuals, regardless of age group, are able to sustain their jobs and find another job if they wish …show more content…
This enable Singapore to draw S$4.9 billion from the past reserves to fund firstly, the Jobs Credit Scheme, which mainly aims to sustain jobs for Singaporean to the maximum extent by encouraging business not to lay-off workers during the recession period by giving cash grant to employers. Secondly, the Special Risk-Sharing Initiative which also aims to keep jobs for Singaporeans by ensuring that companies are able to sustain operations. Even though it will result in a decrease in budget surplus, the main purpose why government implement the policy is to alleviate
“Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.”
Do you agree with the above statement? Please explain your view.
Governments should play active roles in managing short-run instability in the economy caused by unemployment and inflation problems.
Unemployment
Unemployment is the state where people are unemployed. This happens when there are new or re-entrant in the workforce or people who are already in the workforce lose or leave their jobs to look for another job. As there are always people with no jobs who are searching for one, it is not abnormal to have some unemployment in a country. The main reason is that the economy …show more content…
As technology is constantly changing, it will also change the scope of the jobs. Thus, CET aims to help workers to learn new skills and upgrade their skill to enable them to sustain their jobs. At the same time, it will also strengthen and improve the quality of Singapore’s workforce. It offers a wide array of programme for individuals. This will alleviate the unemployment as individuals, regardless of age group, are able to sustain their jobs and find another job if they wish …show more content…
This enable Singapore to draw S$4.9 billion from the past reserves to fund firstly, the Jobs Credit Scheme, which mainly aims to sustain jobs for Singaporean to the maximum extent by encouraging business not to lay-off workers during the recession period by giving cash grant to employers. Secondly, the Special Risk-Sharing Initiative which also aims to keep jobs for Singaporeans by ensuring that companies are able to sustain operations. Even though it will result in a decrease in budget surplus, the main purpose why government implement the policy is to alleviate