Economics Article writing:
Jobless rate in Japan
The article under discussion is related to the increasing level of unemployment in Japan which has been shown by the April employment data. As per the article it has been shown that there has been a slight increase in the level of unemployment in Japan in the month of April. This has been due to the impact of the rising struggle in the electronic sector which has contributed to the increasing job losses. The rate of unemployment in the nation has been to the rise and has shown an upward trend from 4.5 percent to 4.6 percent in the month of March 2012. The nation’s jobless rate has shown an upward trend while the internal affair ministry of Japan has shown and expected that the as per the defying job expectations the rate of unemployment will remain flat to the current level. With the increasing household spending has given hope to the development of the lumbering economy (Means, Samuels and Lee 1994).
There is an expectation by the senior economist at the Japanese research institute that the job market in Japan is going to improve with the development and progress of the Japanese economy. The overall situation of the jobs in Japan is divided into different business sectors. The electronic sector of Japan which plays a vital role in the development of Japan shows a negative sign of development and is still under the struggling phase and trying to cue up. With the appreciation of the value of yen in the international market the exports of the electronic products has been hit hard and made the Japanese producers less competitive than the other competitive counterparts overseas. The Japanese electronic market is also hit due to the increase in the prices of products which are finding difficulty to compete in the international market which is also one of the major reasons for the firms to face tough competition n the market place (Falkinger 2002).
There is an expectation of an increase in the house hold spending by 2.2 % by the economists in the month of April. From the analysis it has been analyzed that the average spending per household has come up to 301948 yen in this month, this shows that the household spending is not at the bad level as said by Mr. Mutsmura.
As per the labor ministry of Japan which issued a report on the jobs level of Japan which said that the ratio of job seekers which stood at .79 levels in the month of April, has risen by .03 points which was at .76 levels in March. This shows that there is in all 79 positions available for the total 100 job aspirants or job hunters. With the recovery of the overseas economies are on the mark the bank of Japan has also shown the signs of improvement and said that it would keep the rate of interest as low as zero to .1 percent (Layard, Layard, Nickell, Eichhorst and Zimmermann 2011).
It is also said in the article that the reconstruction work in the nation and the spending related to it will help the nation to improve and develop power aw being the third largest economy after the March 2011 disaster i.e. the quack-tsunami disaster. With the uncertainty about the global economy which has trembled in the recent period and has not been able to recover so far is also impacting the Japanese economy. As per the central Bank of Japan there is still remain a high level of uncertainty from the global perspective, which mainly include the European debt problem and also the development speed of the US economy which is impact the rate of dollar and the other nations development of the stock markets as well (Waller 2001).
The national debt level of Japanese economy is also one of the main concerns which is affecting the economy at large and impacting the level of employment in the nation. The Japanese national debt is also affecting the nation’s sovereign credit rating in the month of April. This has also shown a possible downgrade of the credit rating of the economy if Tokyo does not undertake to manage its staggering liabilities. The overall debt of Tokyo stands more than the double of its GDP (Gross Domestic Product). This is among the highest ration among the major industrialized nations (Means, Samuels and Lee 1994).
As per the analysts in Japan the job market in Japan is expected to stay at the current level for the current period but can also make progression in the positive side with the expected gradual recovery of the economy which has been highly hit by the disaster. With the affects of the disasters earth quack and tsunami the economy has been hit hard and has been facing problems till then. The economy has been under heavy debt burden which is impacting the electronic market of Japan which is one of its major industries. But with the development of the house hold spending in the economy in the current period there has been an expectation of the increase in the level of income of the people of Japan and this can also boost the economic GDP (Gross Domestic Product) of Japan (Means, Samuels and Lee 1994).
With the financial problems and the European debt problem and the US under economic recovery the Japanese economic structure has also been impacted by those factors. the Japanese economy has been finding way to be established after the tsunami quack and is finding it development in a way that in the coming period these factors does not impact the economy and the government is also planning for the provisions to face such problems in future. With all these impacts on the economy the Japanese economy is on the verge of development in this short span of time and has been developing with a stable pace and is developing in its employment front as well. The Japanese economy which has been under a large debt burden and is facing certain downgrading in its credit ratings at the international level the economy is planning for a boost in the economy by actively boosting the overall developmental activities along with the development of other industries apart from the electronic markets.
Economic Concept
Employment can be said to be as the condition under which a number of people are working in an economy or working for total working hours. This can also be calculated as the number of total working hours divided by the standard working hours for giving a full time which is equivalent to the jobs. As per the Marxian theory of employment it can be said that under the capitalism the level of employment under any period can be determined by the extent of the overall capital accumulation, and this is also highly influenced by the periodic crisis faced by the economies. As per this theory of employment the overall effect of the accumulation on the employment is determined by four prepositions of the law (Layard, Layard, Nickell, Eichhorst and Zimmermann 2011).
This mainly includes firstly, the basic condition in the capitalist mode of production of employment is the overall accumulation of the capital. Secondly, the capital accumulation in combination with the industrial concentration, and techniques and also increased labor and productivity which will lead to the increase in the labor productivity and leading to the progression of the decline in the capital ration invested in the wages to the total investment in production. Thirdly, the decline in the progression of the capital investments in the wages as compared to the capital which leads to the progressive fall in the average rate of the profitability and fourthly the development which tend to produce a relative surplus of the population and the unemployment (Waller 2001).
As per the macroeconomic perspective, the overall level of the employment in the nation is dependent on the overall level of the economic activity which is measured by the GDP and also on the intensity of the labor or employment per unit of the products or productivity. A vital role is played by the institutional arrangements in the economy which impacts the slowdown in the economic activities and thus impacting the GDP. The level of employment is the activity which is highly ceiled up by the employable and skilled personnel and the timings of the effectiveness of the vocational trainings(Means, Samuels and Lee 1994).
There is a high relationship in between the wages and the economy and this is shown in two folds i.e. the higher wages may lead to the reduction of the incentives for the firms for employing and on the other hand the higher employment level may provide power to the employees in negotiating the wages and thus this lead to the increase in the level of remuneration. The development of the employment opportunities is developed in both the public sector and the private sector, and these is impacted by the policies and rules of the labor market and the general level of the economy has the impacts on the both (Layard, Layard, Nickell, Eichhorst and Zimmermann 2011).
With the increase in the expenditures in the private sector gives boosts to the number of jobs creation in the economy and thus affects the market. With the high level of employment rate or low level of employment rate the overall level of economy affects both these factors and is also impacted by both these factors as there is a high link in between the economic prosperity and the level of employment.
Link between economic concept and the article
As the article is related to the level of employment in Japan and the increasing level of the household expenditure which is showing an increasing trend of development in Japan. With the stability of the employment level and a slight decrease in the level of employment in Japan in the month of April due to the impacts and slow down of the electronic market of Japan there is a high link of the economic concept and the article discussion.The article is related to the level of employment which is associated with the prosperity of the nation and the employment theory is also associated with the level of economic development and the prosperity of the nation with the increase in the level of employment or full employment. As the employment theory suggests that the economy is associated with the level of employment and unemployment, and the economic development is associated with it. The level of employment is also determined by the development of the economy and the factors like the debt and the gross domestic product of the economy (Waller 2001).
With the level of the debt and the slower development of the economy the level of employment is also affected as with high debt on the economy the credit rating of the economy gets affected making the value of the currency more depreciated and decreasing the level of exports which impact the level of economic development and production and thus impacts the level of employment in the economy (Means, Samuels and Lee 1994).
Conclusion
From the above analysis of the article and the economic theory of employment it can be concluded that the level of the economic activities determines the level and the balance of employment level. With the development of the economy in overall terms the level of employment is also backed with efforts and thus improves the level of economic development. It can also be concluded that Japan is the economy which is highly impacted by the natural calamities and thus its economy is highly affected and needs to be improved in terms of the level of employment in order to keep its pace with the increasing level of household expenditures and manage its level of employment. It can also be concluded that the electronic sector in Japan needs to develop its potential and make itself more and more efficient in terms of costs and technology through the economic conditions can be improved and can effectively managed in long term.
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