entrepreneurship discussion question and need the explanation and answer to help me learn.
Discussion boards are mean to encourage an exchange of ideas. To do this, you are required to make two posts: One post directly answering my discussion question (see below), and a second post as a comment on someone else’s answer (of course being respectful of the person).
Each post should be relevant to the topic, contain references to economic concepts, and be at least 150 words (each).
The max score for the entire board is 10 points
Each post will have a max score of 5 points
• 5 points = if post is on topic and includes discussion of economic concepts, and is at least 150 words
• 1 – 4 point = if not on topic, not discussing economic concepts, or not 150 words
• 0 points = if not substantial at all (for example just saying something like: that’s a good point, I agree with you)
Discussion Question: Graduation and Your Labor Market Expectations
There are many ways in which macroeconomic conditions can affect you on a personal level. One of the biggest involves the job market. At some point in the future you will finish school and step fully into the labor market, ready to start your desired career. But what will be waiting for you when the time comes? That depends in part on the career you are trying to break into, but it also depends on the state of the national economy at the time. Graduating in a recession will make it harder to land a job no matter what field you are in. And starting salaries will likely be lower than they otherwise would be. In contrast, if you graduate into a booming economy there will be ample opportunities, competitive starting salaries, and even possibly signing bonuses as firms compete for your labor.
When will you be fully done with college and fully entering the labor market? What do you expect the labor market to look like then? Do think it will be easy to find a job, or hard? To help you out, look at these last projections from the Federal Reserve pasted below. Look at the unemployment forecasts. If you expect to graduate beyond 2026 you can look at the “longer run” projection. Note: you can agree or disagree with these projections. For example if you think we will be hit with another recession before your graduation, your expectations may be different than those projections from the Federal Reserve. I want to know what are your current expectations.
Of course, projections are not certainties. And you know unexpected events can occur; wars, pandemics, bank runs and financial crises… So the unemployment situation when you graduate may look very different than these figures. What can you do now to prepare for this uncertainty? What can you do to be ready for the worst case scenario of graduating in a deep recession (with high unemployment and a big surplus of labor)? What can you do to be ready to take advantage of the best case scenario of graduating in an economic boom (with very low unemployment and a shortage of labor)?
Table 1. Economic projections of Federal Reserve Board members and Federal Reserve Bank presidents, under their individual assumptions of projected appropriate monetary policy, December 2022
LINK TO TABLE CHART
Please reply to this student in 150 words
I hopefully anticipate graduating in two years. I believe that the economic status will continue to degenerate slowly but surely at a precedented rate that many graduates during that time will find the idea of a sustainable and honorable job miraculously appealing. I say this because I come to notice that the vast majority of industrial cooperations and automotive companies shifting rapidly to robots and artificial intelligence which increase their profitable returns and decreasing manufacturing faculties. Companies like Chrysler and ford which employe an enormous amount of people will no longer need man workforce due to the advancement of technology that continues to elevate in terms of ingenuity and intelligence as people become more familiar with these adaptable and sophisticated technologies. I certainly disagree with the federal reserve predication on the future unemployment rate, simply by the current status of highly educated unemployed gradates that have yet to find a job they admired for years. Moreover, I predict that hand labor occupation like pluming, electricians and HVAC will continue to prosper.
YOU SHOULD SEND 2 different responses. 150 words each
Requirements: 300 words