The Effect Of Business Cycle On Job Or Labor Markets

Question

Why did some countries fare better in the recent financial crisis? Can early warning indicators help predict which countries will be most vulnerable in an economic crisis such as the one that occurred in 2008-09?

From the data found in the Excel sheet attached, we want to focus on the following five countries:
·    Australia
·    China
·    Iceland
·    Japan
·    United States

Question:

Macroeconomic conditions affect the decisions firms and families make. Why might a high school graduate enter the job market during an economic expansion, but apply to a Technical and Further Education (TAFE) college during a recession? What effect would this decision have on the official measure of the rate of unemployment?

Summary

The question belongs to Economics and it discusses about macroeconomic conditions affecting business firms and individuals take. The reasons behind a high school graduate entering into job market and the same person applying for technical education during recession, both these situations are explored in the solution.

Total Word Count 275