List the four workplace trends discussed in the lecture.
The global economy, teamwork, technology, and diversity
What is one advantage and one disadvantage of the global economy for American workers?
Advantages: lower costs of labor and production for businesses, more variety of imported goods for consumers, possible job opportunities. Disadvantages: loss of jobs to foreign workers, increased competition for goods
A pair of shorts, a DVD, a car, and a necklace are all considered goods or items that people buy.
Discuss how the workplace is changing and why it is important to understand workplace trends.
The global economy impacts the job market or demand for certain jobs. Some of the jobs that used to be performed in the United States are now being shipped overseas. Other jobs are being created in the United States because of the increased demand for U.S. products overseas. Technology is changing the workplace. People use technology to work for effectively. Sometimes technology eliminates jobs while other times the use of technology helps create new jobs. Outsourcing and telecommuting are two trends that are affected by technology. Today’s workers need to be able to work in teams and with different types of people. Team members collaborate on projects, set goals, make decisions, and implement actions. People are expected to work together and with people from different countries, cultures, backgrounds, and generations. The workplace is also becoming increasingly diverse. It is important to respect other cultures and ideas. Being able to work with a diverse workforce is an important work skill to possess.
List the five factors that affect the labor market.
The five factors that affect the labor market are: social change, population shifts, world events, government actions, and the economy.
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