Individual

5. Why is frictional unemployment important to have in any economy?

Let start by defining what is the frictional unemployment, our textbook had defined frictional unemployment as the workers or individual who quit their jobs and embark in finding better new opportunities elsewhere. The time in between from leaving your current job until finding the desired job is what is considered as the frictional unemployment. Form an economist point of view, when such moves happens it’s a sign of good and a healthy economy. People are willing to choice the best job or simple pursue the best paying companies in the industry.

New and very talented professionals are arising every year injecting new skills, and knowledge into the workforce, which certainly create a high level of competition in the job market. From my point of view business in a booming economy make frictional unemployment visible, because they start rising salaries and give huge bonuses to attract experienced and fresh new graduated with more and sophisticated skills into their organizations.

Frictional unemployment is important to have in any economy because is a good indicator of the strength of the economy, and most definitely show the news jobs that have been created. Something than we can’t see in a recovery economy or during a recession due to the lack of good pays jobs. It gives worker the opportunity to think and choice the job that respond to their personal needs and expectations, because one thing which certainly makes an employee more productivity is motivation. And motivation comes when you are doing what really make you happy. During the 2007 and 2008 frictional unemployment was in rise due to the economy boom in the oil and gas sector in Canada.

14. Why might protectionist trade barriers not save American jobs…….?

Protectionist trades are norms or restrictions established by countries which believe that are facing an unfair trade from competitors from foreign countries. In few words is a way...