Indicators and measurement for performance Gene Chang.
-
Upload
brandon-mason -
Category
Documents
-
view
226 -
download
0
Transcript of Indicators and measurement for performance Gene Chang.
![Page 1: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/1.jpg)
Indicators and measurement Indicators and measurement for performancefor performance
Gene ChangGene Chang
![Page 2: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/2.jpg)
Economic stabilityEconomic stability
Job opportunities: measured by the unemployment rateJob opportunities: measured by the unemployment rate
Stable prices: measured by the inflation rateStable prices: measured by the inflation rate
Major indicatorsMajor indicators
![Page 3: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/3.jpg)
Employment and job opportunities
How to measure unemployment rate
Number of unemployed / labor force
Labor force = # of unemployed + # of employed
Definition of unemployed
Definition of employed
![Page 4: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/4.jpg)
Employment and job opportunities
“discouraged workers”
Under estimate the severity of unemployment in the economic recession
Unemployment 6
![Page 5: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/5.jpg)
Employment and job opportunities
The unemployment number that is most often used in the media (and by the government) is known as the "U-3". The "U-6" is considered to be a broader measure of the unemployment situation in the United States. The "U-6" includes two groups of people that the "U-3" does not: "Marginally attached workers" - people who are not actively looking for work, but who have indicated that they want a job and have looked for work (without success) sometime in the past 12 months. This class also includes "discouraged workers" who have completely given up on finding a job because they feel that they just won't find one. People who are looking for full-time work but have to settle on a part-time job due to economic reasons. This means that they want full-time work, but can't find it. The "official" unemployment number is the "U-3" - this was 8.1% in February. The "U-6" was an eye-opening 14.8% in February.
![Page 6: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/6.jpg)
Employment and job opportunities
![Page 7: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/7.jpg)
Employment and job opportunities
The inherent instability of a free market system.
Creating the business cycle of an economy
The Keynesian solution
Government intervention
“Mixed economy”
![Page 8: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/8.jpg)
Unemployment rate in the recent Unemployment rate in the recent U.S. history U.S. history
0
5
10
15
20
25
30
![Page 9: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/9.jpg)
The growth rate of U.S. real GDP since 1870
9
![Page 10: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/10.jpg)
Unemployment by country
Data from the Excel table: List of unemployment rates by countries
Least Developed countries
The U.S. and Hong Kong
Western European welfare states
Countries with different labor laws
Central Planned economies
![Page 11: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/11.jpg)
Least developed countries
Surplus labor
Lewis theory: unlimited labor supply
Huge unemployed in urban areas, but many worked in the urban informal sector
Huge under employed in rural areas
![Page 12: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/12.jpg)
The U.S. and Hong Kong
Developed countries with liberal labor laws
Low unemployment rate
But job switch by employees is common and often.
![Page 13: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/13.jpg)
Western European countries
Most Western European countries and Canada
Welfare state
Generous unemployment compensation
![Page 14: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/14.jpg)
Countries by different labor laws
French model: Dismissal by good causes– France, Sweden– Many Southern American countries
The U.S. model: at Will– Hong Kong– Denmark
![Page 15: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/15.jpg)
Unemployment by country
The Japanese model– Japan
Taiwan
South Korea
![Page 16: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/16.jpg)
Centrally Planned Economies
Lower unemployment
The state guarantees jobs for everybody
Surplus labor within the factories, 30-80% of workers could be redundant in the firms
Underemployment and disguised unemployment
![Page 17: Indicators and measurement for performance Gene Chang.](https://reader035.fdocuments.in/reader035/viewer/2022062300/56649e045503460f94af0c17/html5/thumbnails/17.jpg)
Migrant workers in LDCsMigrant workers in LDCs
in informal sectorsin informal sectors
Taking part time jobsTaking part time jobs
““floating population”floating population”
Case in China: A peasant worker in BeijingCase in China: A peasant worker in Beijing– http://bbs.news.qq.com/b-http://bbs.news.qq.com/b-
1001024026/28500.htm1001024026/28500.htm