1. Employment Trends (B) 4.03- Explain employment trends in terms of changing societal needs and economic conditions.

2. Free Enterprise System An economic system that allows for the privilege of individual ownership of property and the means of production. The key ingredient is the right of individuals to make their own choices in the purchase of goods, the selling of their products and their labor, and their participation in business structure.

3. Contributions of People Strong Economy  Produce labor  Spend money Weak Economy  Cut back on spending  Lay offs/business closures

4. Contributions of Industry Strong Economy  Produces goods  Pays wages Weak Economy  Cuts production  Increases prices

5. Economic Cycles Inflation Recession Depression Recovery

6. Employment, Economic, and Societal trends in relation to Geographic mobility Impact of world events on economy  Economy/competition Strong economy-people move in to find employment Weak economy-people move out to find employment  Governmental action  Outsourcing of Labor  Job Growth/transfer  Transportation/commuting

7. Benefits and disadvantages of relocating a. Benefits 1). Can help sustain economic growth 2.) Can match people successfully to available jobs based on qualifications 3.) Lowers unemployment rate 4.) Allows an individual to move up socially 5.) Can access personal enrichment resources/experiences 6.) Company relocation benefits provided b. Disadvantages 1.) Impact of social mobility on child and elder care 2.) Cost of moving 3.) Dual income families – both spouses finding employment 4.) Selling home 5.) Losing social support network

8. Exemplify reasons why changes may require upgrading of employee’s skills. 1. Employment change a. Types 1). Voluntary 2). Involuntary b. Reasons 1). Keep up with changing technology 2.) Job promotion/transfer 3). Job outlook 4). Job loss 5). Career change 6). Changing job description/job duties

9. 2. Implications for career planning a. SCANS Competencies/Transferable Skills b. Lifelong Learning c. Analysis of case study work histories Exemplify reasons why changes may require upgrading of employee’s skills.