Labor Pains - have a job but are not working at the time....

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Dalsania 1 Akash Dalsania Reeves 23 September 2010 Labor Pains Unemployment is a crucial issue today. To solve this problem long term unemployment must be decreased. The article states that frictional unemployment and seasonal unemployment to not contribute to the major problem of overall unemployment. What adds to this concern the most is the unemployment faced by people who are actually seeking a job. Frictional employment is only a temporary form of unemployment which means that the worker either quit the job on purpose or is looking for another job that he/she will start soon. Seasonal unemployment deals with certain jobs that have more earnings in specific seasons/time periods. This kind of unemployment is not an issue because employers that fall under this category technically
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Unformatted text preview: have a job but are not working at the time. The general idea to solve this problem is the law of comparative advantage as the article states. Comparative advantage is the idea that two firms can work together and produce goods faster and can use time wisely. For example if a firm relies on another firm for management of a product and that firm focuses on strictly producing than both firms will benefit. This in turn will also create more job openings. Now more jobs are available and both firms are making more of a profit. Dalsania 2 Pope, By Stephen. "Labor Pains - Stephen Pope - Market Mind - Forbes." Forbes . 14 Sept. 2010. Web. 23 Sept. 2010. <http://blogs.forbes.com/stephenpope/2010/09/14/labor-pains/>....
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This note was uploaded on 03/26/2011 for the course ECON 0146010010 taught by Professor Allisonfranzese during the Spring '11 term at Rutgers.

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Labor Pains - have a job but are not working at the time....

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