Employment and the world of work

OBJECTIVES:

1. Explain the factors that influence employment, unemployment and underemployment.

2. Describe the factors and procedures to be considered in choosing a job or being self-employed.

CONCEPTS/TERMS

■ Employment – This term refers to persons who receive salaries or wages for the work they do.

■ Unemployment – This is a term referring to individuals who are employable and seeking a job, but are unable to find one.

■ Unemployable – This occurs when an individual is unsuitable for employment or unable to keep a job.

■ Underemployment – This includes low hours or involuntary part-time employment for those who are working ‘part-time for economic reasons’, as well as those who are working less than 35 hours per week because they cannot find full-time employment. Underemployed by occupational mismatch includes those whose educational level is greater than the education required for their present occupation.

MAIN TYPES OF UNEMPLOYMENT 1. STRUCTURAL

Structural unemployment happens when there is a long-term decline in demand in an industry, leading to fewer jobs as demand decreases over time. This exists where there is a mismatch between skills and the requirements of the new job opportunities.

2. CYCLICAL

Cyclical unemployment is a type of unemployment that occurs when there is not enough demand in the economy to provide jobs for everyone who wants to work. It is a downturn in economic activity. This is due to a fall in demand, leading to a contraction in output across many industries. Firms are likely to reduce employment to cut costs and/or maintain profits – this is called ‘downsizing’.

3. FRICTIONAL

Frictional unemployment is the time period between jobs when a worker is searching for or transitioning from one job to another. Transitional unemployment due to people moving between jobs, e.g., new entrants to the labour market.

4. SEASONAL

Seasonal unemployment is a type of unemployment that occurs after a crop season or the tourist season, which results in the laying off of workers. Part-time or temporary work that occurs with increased work demands, or seasonal work that arises in different industries at particular times of the year, e.g., the tourism industry.

5. TECHNOLOGICAL

Technological unemployment involves the effects of automation, mechanisation and computerisation, which results in the loss of jobs. Productivity-enhancing innovation displaces workers and they find themselves jobless.

SELF-EMPLOYMENT

A situation in which an individual works for himself or herself instead of working for an employer that pays a salary or a wage. A self-employed individual earns his or her income through conducting profitable operations from a trade or business that he/she operates directly.

ADVANTAGE

Many persons enjoy working for themselves. The benefits of this include independence and the freedom to set your own goals and to work out how these will be achieved.

DISADVANTAGE

This includes bearing all the risks during initial start-up and being responsible for continued success. The hours of work will be longer, and there will be constant need for self-motivation, commitment, sacrifice and creativity.

THE WORLD OF WORK

Describe the factors and procedures to be considered in choosing a job.

There are countless careers, but we must be aware of the types of jobs from which we can choose.

Finding a job that’s right for you is paramount - you’ll enjoy your work, stay motivated, and always strive to do your best. If you don’t know where to begin, consider the following:

■ Research, read relevant magazine articles, look at job advertisements.

■ Look at what is trending and use that to create your own job; the world is changing rapidly, and many jobs are now obsolete.

■ Know your interests, motivations, and work-related values.

■ Attend career talks and seminars; it will help you to find out what you are good at.

■ Ask yourself what are the factors that make up a job you’d love to do. What kind of lifestyle do you want?

■ alk to others, see if they can help you to identify your talents/skills.

■ Discover which jobs suit you. Think about your transferable skills and qualities. If you’re empathetic and want to make a positive difference to people’s lives, then social work may be your calling.

■ Explore different industries and figure out which one you’d like to be part of; this is an important factor to