Career and
Financial
Management
Workplace Types and the
Economy
Lesson Objectives
1.Compare and contrast workplaces types.
2.Define economy and describe how
individuals and businesses impact the
economy.
3.Evaluate the business cycle and
determine its impact on employment.
The Workplace
 Workplace:


where work is done
Each job has a specific workplace
Each workplace has its own “culture
 Formal
vs. Informal
 Attire, Behavior, and Interactions
Formal Workplace
 Attire


Suit or dress
Uniform
 Interactions


Serious environment
Limited laughing and joking with co-workers
 Behaviors


On-time – set schedule
Follow strict rules
Informal Workplace
 Attire

Casual
 Interactions

Relaxed with boss or co-workers
 Behavior


Work hours often flexible
Fewer rules
The Workplace
 Each



workplace is different
Depends on the work being done and the
workers
Workplaces can be different within the
same job
A job that fits your interests and skills helps
you feel comfortable in your workplace
The Bottom Line
The Workplace
Formal
Attire
Interactions
Informal
Behavior
Attire
Interactions
Behavior
What is the Economy?
 Economy:
the way goods and services
are produced, distributed, and consumed
in a society
 Strength of the economy depends on the
balance of production and consumption
of goods and services
A Strong Economy
 Individuals
and businesses depend on one another
to have a strong economy

BUSINESSES
INDIVIDUALS
Produce Goods
Provide Labor
Pay Workers
Buy Goods & Services
A weak economy can lead to
 Recession
 Depression
A Balanced Economy
Payment
of Wages
BUSINESS
$
Payment for
Products &
Services
WORKERS
The Economy & Interest Rates
 Interest
Rates: reflect the cost of borrowing money
HIGH INTEREST RATES
LOW INTEREST RATES
More expensive to
borrow money
Less expensive to
borrow money
Decrease in spending
Increase in spending
The Bottom Line
Relationship between workers
and businesses
Balanced
Imbalanced
Strong
Economy
Weak
Economy
JOB GROWTH
The Business Cycle
TIME
Business Cycle Changes
 What
causes the changes in the business
cycle?

Major Events
 Stock
Market Crash
 Olympic Games


Cost of oil and products from other
countries
Cost of products sold in the United States
Downturns in the business
cycle
 When
the business cycle changes,
specific industries are directly affected

Homebuilding
 Unemployment
Additional Causes of
Unemployment
 Reduced

demand for job
New inventions & technology
 Typewriter
 Seasonal

repair
Work
Changes in season or weather
 Lifeguard
Job Security
 Job
security: freedom from fear of losing
one’s job

High job security
 Police
officer
 Nursing
 Government Official

Low job security
 Construction
 Salespeople
 Management
What can you do?
 If
you are at risk of becoming
unemployed:




Be aware
Plan ahead
Save money
Additional education
The Bottom Line
Employment
Employed
• Growth in the
business cycle
• Increased
demand
• High job
security
Unemployed
• Decline in
business cycle
• Reduced
demand
• Seasonal work
Workplace Types and the
Economy
“Who is counted as unemployed?” List the three
qualifications required for a person to be classified as
unemployed.
1.
2.
3.
What activities can a person participate in to be
considered “actively looking” for a job?
Why do you think the government is concerned with the
definition of unemployment? If you could change the
definition, would you? If so, why? Justify your responses.
Workplace Types and the
Economy
Consider the different types of workplaces in
which people work. Describe your ideal
workplace and why you selected that
workplace. In your description, include the
different workplace factors discussed in the
lecture (formal v. informal, attire, behavior,
interactions)
Workplace Types and the
Economy
“Who is counted as unemployed?” List the
three qualifications required for a person to
be classified as unemployed.
1. cannot have a job
2. must have actively looked for work in the
last four weeks
3. must be available to work
Workplace Types and the
Economy
What activities can a person participate in to be
considered “actively looking” for a job?
 A person can actively search for a job by
doing any of the following: contact
employers, employment agencies, friends,
relatives, employment centers; sending out
résumés and filling out applications; placing
or answering advertisements; checking union
and professional registers.
Workplace Types and the
Economy
Why do you think the government is
concerned with the definition of
unemployment? If you could change the
definition, would you? If so, why? Justify your
responses.
 Student answers will vary, but students
should discuss the government’s definition
of unemployment and how they feel it
works and does not work.
Workplace Types and the
Economy
The basic concepts involved in identifying the
employed and unemployed are quite simple:
People with jobs are employed.
People who are jobless, looking for jobs, and
available for work are unemployed.
People who are neither employed nor
unemployed are not in the labor force.
http://www.bls.gov/cps/cps_htgm.htm
Workplace Types and the
Economy
Consider the different types of workplaces in which
people work. Describe your ideal workplace and why
you selected that workplace. In your description,
include the different workplace factors discussed in
the lecture (formal v. informal, attire, behavior,
interactions)
Student responses will vary, but should display an
understanding of formal vs. informal workplaces and
other factors that need to be taken into
consideration when selecting a workplace. Students
should be thoughtful and reflective in their responses,
using complete sentences and proper grammar.