Essay on The Impact of Financial Crisis on the Uk Job Market

The impact of the financial crisis on the UK job market and employment (2007-2009) Module: PM021-Aspects of British Culture and Society Name: JUN YU WU Student Number: 0908108 Tutor: Jeff Meadowcroft Word Count: 1,970 Contents 1. Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Page 3 2. Global financial crisis (2007-2009)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3 3. Influence on world job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 3-4 4. Influence on the UK job market†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 4-5 4.1 Short-term changes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Page4-5 4.2 Long-term changes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 5 5. Analysis of current situation in the UK†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Page 5 5.1 â€Å"British jobs for British workers†Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Page 6 5.2 Job†¦show more content†¦Taking into account those employed part time for economic reasons and discouraged workers was 16.3%. (Bureau of Labor Statistics, US Government, 2009) In Spain, the unemployment rate stood at 18.7% (37% for youths) in May 2009 — the highest in the eurozone. (CBCNews.ca, 2009) In July 2009, the unemployment rate was reduced from 9.5% to 9.4%. Even fewer jobs were lost in August, 216,000, recorded as the lowest number of jobless since September 2008, but the unemployment rate rose to 9.7% in October 2009, it is said that some employers who cut jobs due to the recession are beginning to hire them back. The rise of advanced economies in China, India, and Brazil incr eased the total amount of word job market significantly. With the rapid development of communication and education in these countries, there are more workers allowed to compete with workers in traditionally strong countries, such as the United States. This has a negative effect on wages and contributed to unemployment. (Telegraph, 2009) In addition, Britain has equal situation in terms of job market. 4. Influence on the UK job market 1. Short-term changes |[pic] | The left graph shows that the employment rate for July to September 2007 in the UK was 74.5 percent, peaking at 75 percent in the year-end and dropped to around 72.5 per cent forShow MoreRelatedThe Financial Crisis And The Uk865 Words   |  4 PagesThis essay will talk about how the financial crisis influenced enterprises in the UK and in China. It’s obvious that the financial crisis originated in the United States and it had three major features: high destructive effect, long continuance and wide spreading. Many enterprises are impacted by the financial crisis in terms of imports and exports, unemployment and enterprise competition. In China, small and medium-sized enterprises are very necessary because China is a large population of developingRead MoreBanking of Uk1564 Words   |  7 Pages1. 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Power, Control and the Cycle of Domestic Violence Essay

Domestic violence has been plaguing our society for years. There are many abusive relationships, and the only question to ask is: why? The main answer is control. The controlling characteristic that males attribute to their masculinity is the cause to these abusive relationships. When males don’t have control they feel their masculinity is threatened and they need to do something about it. This doesn’t occur in just their relationships, but rather every facet of life. Men are constantly in a struggle for power and control whether it is at work, home, during sports, or in a relationship, this remains true. So the only way for them to get this power is for them to be â€Å"men†; tough, strong, masculine, ones that demand and take power. Where†¦show more content†¦When people believe in an idea they play their role in that idea. In this idea that has become â€Å"true† in society, women play their roles as helpless beings that are controlled by th e all powerful man. 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Economics Assignment for Gross Domestic Product - Free Sample

Question: Discuss about the Economics Assignment for Gross Domestic Product. Answer: Inrtoduction: Gross Domestic Product (GDP) of a country is defined as a sum total of all final goods and services produced in an economy within the territories of the countries. There are three methods of calculating GDP, income method, expenditure method, and production method. In income method, the annual income of all individuals of a country is added together, in expenditure approach, all expenditures made by the individuals in a country is added together and in production method, the market values of all final goods and services are added to obtain GDP (Mankiw 2014). According to the given data set, expenditure method is used to calculate GDP GDP = C + G + I + (X M) GDP = Household consumption + Government purchases + Total Gross fixed capital expenditures+ change in inventories+ (Export Import) (Note: government purchases does not include transfer payments, so transfer payments are not taken in calculation) GDP for Country A = 150 +250 + 50 + 50 + (40-20) = $ 480 billions GDP of Country B = 150 + 250 +150 -50 + (40 -20) = $ 520 billions The GDP of country A is $480 billion which is less than country Bs GDP, i.e. $ 520 billion. It indicate that the market value of all final goods and services produced in country B is greater than the market value of all final goods and services produced in country A. The market value indicates the price level of the country. Hence higher GDP in country B gives an indication of higher price level in country B as the calculation is based on market value (Kubiszewski et al. 2013). There may be several reasons for higher price level, such as higher demand of goods by the consumer. If the demand of goods increases, without any change in supply then it leads to rice in price (Vespignani 2013). The rise in demand also indicates, rise in income in the country which implies rise in employment and production of the country. All it together indicates that the country is going through a boom period. On the other hand, as GDP in country A is lower than in country B, it gives the opposite indications, i.e., the price level in country A is lower than that in country B (Miles et al. 2012). Further, the demand in country A is also lower than in country B. As demand in country A is less, so the income, employment and production in country A are also less than that in country B. Hence, it is implied that country A is experiencing an economic recession ac compared to country B as recession means fall in income, production, employment and hence demand. Recession is a temporary phenomenon in an business cycle that takes place due to fall in production, investment, income and demand in a country. As country A is experiencing a reduction, so it can be said that country A is likely undergoing a period of recession (Hutchinson 2015). Year GDP at constant prices(Billion)AUD Growth rate Growth rate (%) of real GDP 1980 544,944,000,000.00 1981 563,244,000,000.00 0.034 3% 1982 581,951,000,000.00 0.033 3% 1983 568,970,000,000.00 -0.022 -2% 1984 595,297,000,000.00 0.046 5% 1985 626,547,000,000.00 0.052 5% 1986 652,245,000,000.00 0.041 4% 1987 669,037,000,000.00 0.026 3% 1988 707,634,000,000.00 0.058 6% 1989 735,081,000,000.00 0.039 4% 1990 761,023,000,000.00 0.035 4% 1991 758,132,000,000.00 -0.004 0% 1992 761,157,000,000.00 0.004 0% 1993 792,061,000,000.00 0.041 4% 1994 824,044,000,000.00 0.040 4% 1995 856,009,000,000.00 0.039 4% 1996 889,814,000,000.00 0.039 4% 1997 924,938,000,000.00 0.039 4% 1998 965,989,000,000.00 0.044 4% 1999 1,014,357,000,000.00 0.050 5% 2000 1,053,599,000,000.00 0.039 4% 2001 1,073,927,000,000.00 0.019 2% 2002 1,115,345,000,000.00 0.039 4% 2003 1,149,595,000,000.00 0.031 3% 2004 1,197,296,000,000.00 0.041 4% 2005 1,235,689,000,000.00 0.032 3% 2006 1,272,548,000,000.00 0.030 3% 2007 1,320,366,000,000.00 0.038 4% 2008 1,369,308,000,000.00 0.037 4% 2009 1,394,225,000,000.00 0.018 2% 2010 1,422,363,000,000.00 0.020 2% 2011 1,456,209,000,000.00 0.024 2% 2012 1,509,109,000,000.00 0.036 4% 2013 1,545,932,000,000.00 0.024 2% 2014 1,584,578,000,000.00 0.025 2% 2015 $ 1,584,578,000,000.00 0.000 0% Table 1: Growth rate of Real GDP of Australia from 1980-2015 Source: Author Figure 1: Growth rate of Real GDP of Australia from 1980-2015 Source: Author Figure 1 depicts the growth rate of real GDP in Australia from the period 1980 to 2015. The growth rate has varied from -2% to 6% in a span of 35 years. The lowest was in the year 1983 and the highest was in the year 1988. There are steep fall and rise in the growth rate over the years (Tucker 2016). The economy of Australia experienced two major period of fall in the growth rate, one was in 1983, as -2% and other was in 1991, as 0%. The reason behind 1983 negative growth rate was the double-dip severe global recession in the early 1980s was mainly due to contractionary monetary policy of Federal Reserve, USA. The tightening of monetary policy was mainly to recover from the energy crises in 1979 in the world. Australia and USA are good trade partners in the world, so recession in USA had drastically affected Australias growth rate and reduced it to negative return (Kent 2014). The zero growth rates in 1991 in Australia was due to the worst hit recession in the country during early 1990s after the Great Depression. There has been lots of debate behind the actual reason of recession in 1990.One of the belief is the financial excess in the 1980s has caused the recession in 1990s. The international recession in 1990s and the overstretched economy of Australia during the late 80s for achieving faster growth and development may have caused the recession in1992 in Australia (Hasan et al. 2012). One of the highest growth was 6% in 1988 was mainly due to the overstretched economy of Australia and the rising asset prices in the world market which was followed by increasing borrowing. The economy was going through boom period during 1988, however it was a short-lived boom period and soon economy feel and growth rate got zero in 1992. Another dip in the growth rate was seen in 2009 to 2% due to sub-prime loss in USA which caused global recession. However, it should be noted that after every recession the economy has come out with better growth rates in the next coming years and had always recovered steeply from the recession (Garnier et al. 2015) Presently, from 2012 onwards the economy is seeing a fall in the growth rate mainly due to fall in the productivity of labour force, income and demand and increase in population due to increase in immigrants with easier immigrant policies (Gandolfo 2013) Year CPI Growth rate Growth rate of inflation(%) 1980 10.12658 1981 9.691745 -0.043 -4% 1982 11.14551 0.150 15% 1983 10.11356 -0.093 -9% 1984 3.950185 -0.609 -61% 1985 6.739049 0.706 71% 1986 9.084532 0.348 35% 1987 8.488746 -0.066 -7% 1988 7.231772 -0.148 -15% 1989 7.559425 0.045 5% 1990 7.27226 -0.038 -4% 1991 3.22268 -0.557 -56% 1992 0.985915 -0.694 -69% 1993 1.81311 0.839 84% 1994 1.894977 0.045 5% 1995 4.638136 1.448 145% 1996 2.61242 -0.437 -44% 1997 0.250417 -0.904 -90% 1998 0.853455 2.408 241% 1999 1.465428 0.717 72% 2000 4.475183 2.054 205% 2001 4.380841 -0.021 -2% 2002 3.003171 -0.314 -31% 2003 2.770735 -0.077 -8% 2004 2.343612 -0.154 -15% 2005 2.668733 0.139 14% 2006 3.538487 0.326 33% 2007 2.332362 -0.341 -34% 2008 4.352643 0.866 87% 2009 1.820112 -0.582 -58% 2010 2.845226 0.563 56% 2011 3.30385 0.161 16% 2012 1.76278 -0.466 -47% 2013 2.449889 0.390 39% 2014 2.487923 0.016 2% 2015 1.508367 -0.394 -39% Table2: Growth rate of inflation in Australia fro 1980-2015 Source: Author Figure 2: Growth rate of inflation in Australia for 1980-2015 Source: Author Figure 2 shows the growth rate movement of inflation in Australia from 10980-2015. It can be noted that during the boom period when real GDP was high, growth rate of inflation was very high and during recession when growth rate of real GDP was low, growth rate of inflation was very low (Edgar 2014). Figure 3: Growth rate of inflation and real GDP in Australia for 1980-2015 Source: Author The relation between growth rate of inflation and real GDP is shown in figure 3. The variation in real GDP is much lower than the variation in inflation. The relation between real GDP and inflation growth rate is positive to each other, When GDP growth rate is high, inflation is also high and when GDP growth rate is low, inflation is also low. The reason is during high growth rate, production, income, employment and demand increases that cause the prices also to rise due to the time lag between demand and production (Storm and Naastepad 2012). The demand can rise instantly, but to meet that excess demand production cannot be increased instantly. It can only increase in the next period and that period rise in demand is met by inventories which are generally of limited nature. Hence inflation increases with increase in real GDP in Australia (Dornbusch and Bodman 2013) Year Unemployment rate Growth rate of unemployment rate 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 9.6 1992 10.8 0.12 1993 10.9 0.01 1994 9.7 -0.11 1995 8.5 -0.12 1996 8.5 0.00 1997 8.5 0.00 1998 7.7 -0.09 1999 6.9 -0.10 2000 6.3 -0.09 2001 6.8 0.08 2002 6.4 -0.06 2003 5.9 -0.08 2004 5.4 -0.08 2005 5 -0.07 2006 4.8 -0.04 2007 4.4 -0.08 2008 4.2 -0.05 2009 5.6 0.33 2010 5.2 -0.07 2011 5.1 -0.02 2012 5.2 0.02 2013 5.7 0.10 2014 6 0.05 2015 Table 3: Growth rate of unemployment in Australia from 1980-2015 Source: Author Figure 3: Growth rate of unemployment in Australia from 1980-2015 Source: Author Figure 3 shows growth rate of unemployment in Australia from the period 1980 to 2015. The country has seen highest unemployment rate in 1993 to 10.9% and lowest in 2008 to 4.2%. There have been several variations in the unemployment rate in between the periods. The variation in unemployment rate is linked with the variation in the growth and development of the country. The highest unemployment rate in 1993 was may be due to the global recession of 1990 which has affected almost all the developed economy. The major cause of recession was contractionary monetary policy of Federal Reserve of United States (worldbank.org 2016). Figure 4: Growth rate of unemployment and real GDP in Australia from 1980-2015 Source: Author Figure 4 shows the relation between the growth rate of unemployment rate and real GDP in Australia from 1980 to 2015. The growth rate of real GDP ranges between 2% to 6% in the period of 35 years. The two curves are inversely related to each other. When the growth rate is high, there is more production, investment, employment and income in the economy and so unemployment rate is low. On the contrary, when the growth rate is low, there is less production, investment, employment and income, due to which the growth rate in unemployment is high ( Argy and Nevile 2016). The unemployment rate gets influenced with seasonal changes in jobs and changes in the business cycle of an economy. The higher unemployment rate may be a short term phenomenon and in long run the unemployment rate reduces due to prudence policies of government towards economic growth and development (Wray 2015). Several steps taken by Australian government towards the reduction in unemployment rate are easy access to foreign direct investment for expansion of job opportunities for the labour force. Further, unemployment beneficial allowances are provided by the government for the labour force to support them in time of financial crises. The government of Australia has given several loan advances facilities for small business organization and farmers to expand their business and grow in their field of work. Hence unemployment problem has been controlled by the government through various measures over the period ( Argy 2013). References Argy, V., 2013. International macroeconomics: theory and policy. Routledge. Argy, V.E. and Nevile, J. eds., 2016. Inflation and Unemployment: Theory, Experience and Policy Making. Routledge. Data.worldbank.org. (2016). Indicators | Data. [online] Available at: https://data.worldbank.org/indicator [Accessed 29 May 2016]. Dornbusch, R. and Bodman, P., 2013. Macroeconomics 3e. McGraw-Hill Education Australia. Edgar, B., 2014. An intergenerational model of spatial assimilation in Sydney and Melbourne, Australia. Journal of Ethnic and Migration Studies, 40(3), pp.363-383. Gandolfo, G., 2013. International Economics II: International Monetary Theory and Open-Economy Macroeconomics. Springer Science Business Media. Garnier, C., Mertens, E. and Nelson, E., 2015. Trend inflation in advanced economies. International Journal of Central Banking, 11(4), pp.65-136. Hasan, R., Mitra, D., Ranjan, P. and Ahsan, R.N., 2012. Trade liberalization and unemployment: Theory and evidence from India. Journal of Development Economics, 97(2), pp.269-280. Hutchinson, D., 2015. Australian current GDP, GDP deflator, CPI, population and share price index: data sources and methods. Kent, C., 2014. The Business Cycle in Australia. Address to the Australian Business Economists, Sydney, 13. Kubiszewski, I., Costanza, R., Franco, C., Lawn, P., Talberth, J., Jackson, T. and Aylmer, C., 2013. Beyond GDP: Measuring and achieving global genuine progress. Ecological Economics, 93, pp.57-68. Mankiw, N.G.R.E.G.O.R.Y., 2014. Principles of macroeconomics. Cengage Learning. Miles, D., Scott, A. and Breedon, F., 2012. Macroeconomics: understanding the global economy. John Wiley Sons. 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Othello RR Essays - Othello, Film, Fiction, William Shakespeare

Othello RR In Othello, jealousy plays a big role throughout the play in many of the character's lives. Beginning with Roderigo, he is jealous of Othello because he's the one that wants to be with Desdemona, and to the end of the play when Othello is angry because he believes Cassio and Desdemona have been engaging in a love affair. Iago has to do with much of this; he is a selfish character that makes up lies and likes to mislead situations. He is filled with envy and anger that he brings out the jealousy of the other characters, especially Othello because that's part of what he feels as well when he wasn't chosen for lieutenant, Cassio was. Iago is very wise in the way he says certain things to make people believe his convincing lies. He is clever at the timing of what he says, he knows when to say it and how. Iago is immediately portrayed as the villain of the play when he gets paid by Roderigo to get her away form Othello. Along with that, Iago comes up with a plan of his own. He accuses Othello as a thief by saying that Othello has stolen Desdemona's heart by using witchcraft. He then convinces Roderigo to confront her father about what is going on. Iago is not concerned all about the love Roderigo has for Desdemona and that he wants to be with her, all he is thinking and focusing about is getting Brabantio to come after Othello and make him suffer. Jealousy destroys Othello. The situation between Othello and Iago can't necessarily be all of Iago's fault. It is not fair to blame him for the tragedy that happened to Othello. Even though Iago did have a lot to do with the disasters that happened in the play, it still all comes down to Othello for falling into the lies. Iago used manipulation to get Othello to be jealous and in my opinion, he did not have to try all that hard to get Othello to believe Desdemona was having an affair. Othello shouldn't have let Iago get in his head the way he did about Desdemona. He started to become convinced and blinded by Iago that led him down a path of anger, resentment, and questioning of his wife and his friend Cassio. He let these thoughts of adultery take over his mind, which made him loose everything. Throughout the play, Othello's actions sink him deeper and deeper into doubt that later led him to kill not only the love of his life but himself as well. Both Iago and Othello have a goal to be superior than the other. Othello simply just wants the truth and answers, while Iago wants to manipulate those who have hurt him. So that being said, Iago turns conversation around to Othello to come up with the conclusions that Iago wants. In order for Iago to increase Othello's jealousy, he waits for what Othello responds. An example of this is when Othello asks Iago about Cassio being with Desdemona when they are seen together in private. "Was that not Cassio parted from my wife?" asked Othello to Iago. Iago responds, "Cassio, my lord?" Othello answers back, I do believe twas he" (Act 3, scene 3, lines 37-38,40). Iago purposely answers his question with a question so that Othello actually answers is own question to which Othello believes.