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Global Job Market and Truth About Employment

Read the entire article at the link http://reason.com/archives/2004/07/01/10-truths-about-trade and comment on at least three of the "Truths." Be sure and clearly indicate which statements from among the "10 Truths" you are responding to. Consider ethical implications and the role and influence of values-based decision making.

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The '10 Truths About Trade' states that the number of jobs grows with the population. Brink Lindsey reports, "as the population grows, the number of people in the work force grows; then market forces absorb that supply and deploy labor to different segments in the economy" (Lindsey, 2004). However, other research disputes this "truth". Fewer Americans have permanent jobs than previously, despite there being many more Americans than four years ago (Lott, 2012). Since 2004, when the article was written, unemployment has risen from 5.6 percent in America to as high as 9.9 percent in March 2010. We are currently at 7.6 percent (Izzo, 2013). Lindsey mentions various technological innovations and asserts that these tools are not severely impacting job growth, instead determining "a growing economy and functioning labor markets (are) all that (are) needed to accommodate huge shifts in labor supply and demand"(Lindsey, 2004). This is correct. In spite of technological innovations, the American and global economy has suffered recessions. In addition, the labor market has changed. The number of those unemployed for more than six weeks dropped last month but it appears that many in this group are simply becoming discouraged and giving up on finding work. The "longer one is unemployed, the harder it becomes to find a job" (Izzo, 2013). Participation in the labor force has fallen to 63.3 percent, "the lowest level since 1979 when women were still just beginning their move into the labor force" (Izzo, 2013). In America, the number of people of disability and food stamps has skyrocketed. This has implications globally: unemployment in France, Germany, Greece and Spain are in the double digits (Bureau of Labor, 2013). Conversely, China has considerably lower unemployment rates now (6.5 percent) then in 2004 (10.1 percent) (IndexMundi, 2013). It appears that a country's economy and political policies have the most impact on the number of jobs, more than the population. Many American companies (Apple, for example) choose to source overseas because people are willing to work for less ...

Solution Summary

This detailed solution comments on the article "10 Truths About Trade" based upon ethical implications and the role and influence of values based decision making. The article is in regards to jobs and the impact of offshoring, population growth, and global economies. It includes APA references and examples.

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