Unemployment during the Great Recession Assignment

Unemployment during the Great Recession - Assignment Example This means that these individuals are working in low paying freelance, contractual and part time jobs and out of these individuals who constitute the 26%, 27% of the employees were only working with a retirement plan and 39% were working with a health insurance. According to Allan S. Blinder, an economist at the Princeton University stated that in the next two decades, the US employers are going to outsource and about 22% to 29% of the US jobs will be available to offshore employees. The statistics of the US Bureau of Labour Statistics show that during 1979 to 2000, the number of temporary workers working within the US rocketed up from around 0.4 million to 3.9 million which is an eye opening increase of 760 percent and during 2000, the total percentage of the workforce of the US working as temporary/part-time workers was 2%. The condition of the US work force is such that they are constantly working day and night since they are being paid in accordance to piece rate or an equal syst em. They do not have time to take part in social life and they even have to ignore their recreational side. This is because they know that the job market is in such a bad position that if they seem to produce less even as freelance or part-time workers, they will end up losing their jobs. During 20009 the government of the US increased the minimum wage of employees to $7.25 but this increase is on lower than the minimum wage paid 30 years down the road in context of real value. Another major concern is the pay accordance to education, those who were earning minimum wages during 1979 at least had a high school degree this constituted a total of 57.5% of the total workforce of 1979 (Economic Policy Institute 2012). During 2008, the number of people of the workforce who had a high school degree has increased to 71.9% but the minimum wage rate has

Some questions on Shpping Essay Example | Topics and Well Written Essays - 750 words

Some questions on Shpping - Essay Example This has made possible the process of 'outsourcing' reach new levels. Now many countries where the manufacturing costs are high have outsourced the manufacture to countries where the cost is relatively low and then re-imported back into the country. And with freight rates being relatively low, now companies source raw materials from one country, export it to another country where it is processed and finally sold in another country. This has caused the international trade to increase from 0.55bt in 1950 to 4.3bt in 1995 an 8-fold increase. For the transport of crude oil we would use a Crude Oil Tanker such as a ULCC with a capacity of up to 500,000t DWT since we want to transport as much crude oil in a single journey as possible due to high demands. For the transport of grains, we would use a Dry Bulk Cargo ship such as the handymax or the panamax. They are the most economical to build, and therefore the freight rates offered would be low allowing for the commodities to be traded at economical rates. For the domestic air-conditioners, we would use a container ship. ... For the transport of iron ore we can also use a Dry Bulk Cargo ship but with a much higher DWT such as those found on the Capesize. For the domestic air-conditioners, we would use a container ship. The advantage offered would be that transport costs would be low; the goods can safely stored on board the ship and can easily and quickly be loaded and discharged. 3) How is the simplicity of design of the dry bulk carrier relevant to the fact that it carries law value cargo A3) Dry Bulk carriers mostly transport cargoes of low value which would have very few specialised needs. This would mean that the design of the Dry Bulk carrier would not require many special additions as compared to other ships which carry specialised cargoes such Crude Oil Tankers or Reefers. This would translate into lower costs in terms of manufacturing, which would mean lower investments for the ship owners. This advantage would be seen in that; the freight rate of a Dry Bulk Carrier would be a lot lower as compared to a Tanker. And since most of the cargoes transported by these ships are of low values that would mean that the profits would not be as high and therefore the need to transport the goods at economical costs. 4) What are "flags of convenience" How have they changed over the last decades How have classification societies and IACS influenced their developments A4) 'Flags of convenience' is when a ship is registered in one country but is owned by a party present in another country. Under international maritime laws, the country where a ship is registered in determines the regulations to be applied upon the ship irrespective of the country of origin of the ship's owner. As many countries have become stricter and labour costs have risen, many ship owners register their ships in