Topic 11: Unemployment

The unemployment rate has been ever-changing sometimes decreasing and sometimes drastically increasing. Nowadays, the unemployment rate is still on the rise. Unemployment is then the main contributing factor to the shrink in the economy. There are occupations in society that tend to be more resistant than others to the forces that cause unemployment and those that are less resistant as well. Some examples of jobs that are more resistant than others to the chance of unemployment include: jobs that involves technology or science. Technology is used everyday and so people with new inventions or scientific theories will never be unwanted. Some jobs that are less resistant may include: jobs that involve forms of labor as well as forms of management. There are millions of applicants for jobs that are based on labor, yet there are not enough open spaces for all these applicants. Therefore not everyone gets hired. Jobs that are based on management such as the manager of a business or even a CEO of it are also vulnerable to becoming vacant. For example whenever a big business were to suddenly have a huge drop in profits the CEO would most likely be replaced in an instant. I would like to major in economics and financing. I feel like this is the best job for me because math and science just isn’t my thing. I cannot yet determine whether or not my type of job is more or less resistant to unemployment. And yes, this does have some influence on why I choose what I major in.