Global Perspectives employment

Global
Why is employment important?
Employment is important if you want to have a normal life; three decent meals a day, a place to stay and other things such as clothes, shoes etc. This is most especially if a person has to provide for his or her family. In order to provide good quality education to your children, you need to be employed first so that you can have the means to pay for their education expense.
Employment is important for a person’s well-being. Work often boosts a person’s morale integrity. It also gives the person self confidence especially when socializing with other people. Some even associate their job positions as their titles when introducing themselves to strangers. An employed person has the ability to enhance and develop his or her skills and learn moral values such as teamwork and cooperation.

Which countries have the highest/lowest employment levels?
When looking at the world's lowest unemployment rates, one of the first things you might notice is that many of the countries are in Southeast Asia such as Thailand, Singapore, Malaysia and Vietnam all have unemployment rates at or below 3%, ranking them in the top six overall, according to tradingeconomics.com.
"One reason why the unemployment rates in those countries are low is because they're starting to get a lot of investment that used to go to China and would have gone to China," said George T. Haley, a professor of marketing and international business at the University of New Haven Haley said high wage inflation in China has prompted companies to start outsourcing to other countries instead.
Third world countries Countries such as South Africa and Angola have the lowest employment rates of 25% due to inflation and Debt

Why does employment differ?
The factors that affect employment includes: Ratio of working population, level of education and the industrial development in the country
Economic Factors
National job growth, recessions and the ability to look for employment could affect your worker turnover and retention. For example, if the economic climate is doing well and jobs are flourishing, it may be harder to retain employees if they have other, better job opportunities to assess. Also, changes in consumer taste can affect demand for the product or service your company provides, which could lead to layoffs or mass hiring that could affect your company's employment rate.
Technological Advances
Advances in technology can affect employment rates. For example, certain industrial ventures previously requiring people to work on factory lines may now be able to use computer-operated machines instead of employees, depending on the industry. This may significantly decrease the amount of employees needed in a company's workforce. Certain technological advances in machine automation have also replaced the need for specific levels of employees in office atmospheres, impacting overall employment.
Corporate Values
The corporate values that your company adheres to could impact your employment rate. If potential employees, for example, hear negative stories in the press about the way your company treats employees, this could affect your recruitment process and what type of candidate you are able to hire. If your employees feel unappreciated or unmotivated to work for your company, this could also affect employment in that these employees may leave for other ventures, or your company's production levels could decrease and layoffs may need to take place.

What causes unemployment?
Unemployment is caused when someone is laid off, fired or quits -- and is still looking for a job. This type of natural unemployment always occurs, even in a healthy economy. If someone retires, goes back to school or leaves the work force to take care of children or other family member that is not unemployment. Also, if someone gives up looking for work, they are also not counted as unemployed by the Federal government. For this reason, some people say the government undercounts the real unemployment rate.
Sometimes unemployment is a result of advanced technology, such as computers or robots, which replaces worker tasks with machines. If the workers are not retrained, they may not have the skills needed to get a new job. This is known as structural unemployment.
Unemployment can also be caused by job outsourcing, when a company moves its manufacturing or call centers to another country where labor costs are cheaper. This occurred in many states after NAFTA was signed in 1994. It was also caused when workers in China and India gained the skills needed by American companies.
Large scale unemployment is caused when consumer demand slows enough that businesses lose too much profit. If they don't expect sales to pick up anytime soon, they then must lay off workers. This usually happens during the recession phase of the business cycle.

Country
What are the employment levels in my country and local community?
INDIA UNEMPLOYMENT RATE
Unemployment rate in India is showing an increasing trend since 2011 when it was 3.5%. The same rose to 3.6% in 2012 and climbed to 3.7% last year.
According to the ILO report, it has been argued that India was experiencing 'jobless growth' due to the fact that total employment grew by only 1.1 million from 2004/05 to 2009/10 (based on the National Sample Survey), representing an employment elasticity of almost zero.

However, total employment in India expanded from 2009/10 to 2011/12 by a much healthier 13.9 million, "though many of these jobs are in the informal economy," it added.
Though Kerala (My local community) registered a growth of 8.24 per cent in 2012-13, the state recorded the highest unemployment rate in the country in the category of larger states according to the latest Economic Review of Kerala.

The Economic Review 2013 released on Wednesday by Kerala Finance Minister K.M. Mani in Thiruvanthapuram said that according to the live register of employment exchanges, there are 39.78 lakh unemployed people in the state.

But the comparison with 2012 shows that unemployment rate is gradually reducing in Kerala.

Another interesting fact is that unemployment in Kerala is found to be much higher among women compared to men. The total number of unemployed women in Kerala stood at 23.86 lakh making them 60 percent of the total unemployed persons in Kerala.

How do they compare with other countries?
India
Rank: 24
Jobless rate: 9.9 per cent
Three key factors slowing down India’s growth are the widening current account deficit - as India imports more than it exports, falling rupee, and high inflation.
The economic situation has worsened in the country forcing Prime Minister’s Economic Advisory Council to lower its growth target for the current financial year.
With elections due in few months, the government too is not taking any active reforms. Rather, it has been pushing populist schemes such as Food Bill that can affect fiscal deficit.

What is being done to help the unemployed?
The primary method for the Federal Reserve to change monetary policy by reducing the Fed Funds Rate. This lowers overall interest and spurs businesses to borrow money to invest in their businesses and eventually hire more workers. Low interest rates also boost the housing market, creating wealth and increasing personal.
The second method is through fiscal policy. The Government can directly create jobs through increased spending on government projects, as happened in the New Deal, or through tax cuts, which stimulates spending just like an interest rate decrease.

Local
How are my extended family and friends’ parents employed?
My parents are both employed as engineers in two different companies. Some of my friend’s parents are business men while others work in big companies.
How does this affect my/their lifestyle and choices?
Because of employment we are able to afford a good lifestyle and have more choices in our life. Almost everything in this world costs money and because of this employment is essential to lead a nice and happy lifestyle.
What is the importance of the kind of job I have?
The Paycheck
The greatest attraction to these career paths are the paychecks. The average salary for most of these positions we discussed is about $120K, which is double the average U.S. household income according to the U.S. Census Bureau. Yet, some people enter medical and even legal professions because of the potential good they can do for others.
Respect
Another benefit of these positions is the power and prestige associated with them. You can generally get immediate respect when people find out you’re a doctor, lawyer (usually), or a business executive.
Job Security
The demand and compensation for medical professionals keeps going up. Lawyers usually stay gainfully employed as well. Recruiters always hunt for engineers and IT professionals, which means these positions offer employment security also.
Sources
1. www.huffingtonpost.ca
2. www.tradingeconomics.com
3. edition.cnn.com
4. http://edition.cnn.com/2011/WORLD/asiapcf/07/14/world.comparison.unemployment/

http://higherpayingskills.com/2012/01/high-paying-jobs-2/#ixzz2y5hn0Cc8