Saudi unemployment hits half a million

About 500,000 saudi nationals remain unemployed ,  

the Saudi labour minister said , "We have to solve this unemployment problem,"

the govrnment worked on saudisation which aimed to replace 10 % of foriegn workforce with unemployed saudis , but this programme didnt work .

The education in KSA should be developed that saudis can be able to work in private sectors .

“They [Saudi Arabia] have unemployment coming down to five percent in 2014, but we’re predicting the figure to stay at around 11 percent over the forecast period,” Rory Fyfe, the Economist Intelligence Unit (EIU)’s specialist for Saudi Arabia.

http://www.arabianbusiness.com/saudi-unemployment-hits-half-million-labour-minister-370405.html

LEBANON'S ECONOMY

Lebanon's economy and markets are one of the best developing economies in the world. The private sector contributes to around 75% of aggregate demand,and is a major pillar for growth and recovery. The Lebanese economy is also considered as a typical open economy with a large banking sector equivalent to more than 2.5 times its economic sector and provides an important support to aggregate demand.

Lebanon recorded a Human Poverty Index of 7% in the 2009 HDI report which ranks it in the 33rd place in the world.

Macro-economic trend

This chart calculated by the International Monetary Fund with figures in millions of Lebanese Pounds describes the product of Lebanon at market prices :

(the following list is copy pasted)

Year	Gross Domestic Product	US Dollar Exchange	Inflation Index (2000=100)
1980	14,000	3.43 Lebanese Pounds	0.071
1985	59,329	16.41 Lebanese Pounds	0.21
1990	1,973,000	695.20 Lebanese Pounds	18
1995	18,027,607	1,621.33 Lebanese Pounds	81
2000	25,143,000	1,507.46 Lebanese Pounds	100
2005	33,243,000	1,507.48 Lebanese Pounds	106

Effects of the Late 2000s Economic Crisis

Lebanon's stock market increased in 2008.And it is considered one of the only seven countries in the world in which the value of it's market is increasing. The Lebanese economy grew 8.5 percent in 2008 and seven percent in 2009. Since Lebanon enjoyed solid economic performance despite a global recession, the World Bank expects continued growth as the global economy improves in 2010. According to a report by the World Bank,Gross Domestic Product (GDP) growth in 2010 should remain steady at seven percent.

http://en.wikipedia.org/wiki/Economy_of_Lebanon

Saudi economy to grow 4.2 percent in 2011

Saudi Arabia’s economy wants to 4.2% in 2011 after 3.8% in 2010, Driven heavy government Spending. With crude prices and strong demand will fund its budget and turn in a surplus and planning 7% hike in spending from 2010’s original budget.

(Copy Paste)
While on paper a budget shortfall of 40 billion riyals (10.7 billion dollars) is forecast for 2011,and that high spending will not prevent the government from running a budget surplus around 6% of GDP and that it will require an oil price of nearly 70 dollars per a barrel.





http://en.news.maktoob.com/20090000540796/Saudi_economy_to_grow_4_2_percent_in_2011_bank_/Article.htm

Money In The U.S Economy

During the later year of the 20th century, the US financial plan was important but managing the overall economy was transferred from economic policy to monetary policy, which is the province of the Federal Reserve System. The federal system includes twelve regional banks and 25 Federal Reserve System branches. Legally, all commercial banks are obligated to be members of the Federal Reserve System with an exception of the state chartered banks.

A bank that is a member of the Federal System uses the Reserve Bank in its region in the same way that a person uses a bank in his community. The Federal Reserve System is administered by the Board of Governors. Its seven members, who serve overlapping 14 year terms, are appointed by the president. Its monetary policy decisions are made by the Federal Open Market Committee, which consists of the seven governors. The governors are, by law, independent from congress and the president.

The Federal Reserve System must report on its actions to the congress. The important policy decisions are conducted in privacy and often disclosed only after a period of time has elapsed. Its operating expenses are generated from investment income and fees.

For maintaining control over the supply of money, the Federal Reserve adopts three tools. The most important tool is relevant to open market operations or buying and selling of government securities. The Federal Reserve buys government securities from banks, other businesses, or individuals, to increase the supply of money.

New reserves are created when the federal checks are deposited. The bank can lend or invest some of it. Government securities are sold to the banks to reduce money supply. When banks have lower reserves, they must reduce their lending, and the money supply drops accordingly.


http://economics.about.com/od/monetaryandfiscalpolicy/a/money.htm

December jobs report: Unemployment rate at 9.4%

New York CNN reports that the unemployment rate is at 9.4%, which is the lowest rate since May 2009. Even though this sounds good, it is actually bad for the economy even though 103,000 jobs were added in December of 2010. According to John Sivia, Wells Fargo’s economic chief, he suggested that this is either good or bad. A lower unemployment rate is a mixed blessing, but it is bad for the long term.

Who’s fault is it, the people or the businesses? According to CNN, it is the people. Facts are, about 260,000 adults are discouraged from seeking employment!

Fact show that the economy has improved greatly in 2010 with 1.1 million jobs added, which has been proven the best since 2007.

Less worried about layoffs, jobholders spend more

http://http://finance.yahoo.com/news/Less-worried-about-layoffs-apf-38051072.html?x=0

This article talks about how consumer spending has significantly increased lately which signifies an increase in confidence. It seems that jobholders are now less worried about getting laid off which explains the increased spending.

Most people feared losing their jobs during the recession, which ended in June 2009. But now, despite 9% unemployment, Americans are breathing much easier.

Workers who survived the job cuts of the recession have begun to conclude: ''If they haven't fired me by now, they're not going to'' says Michael Koskuba, portfolio manager with Victoria Capital Management. But people shouldn't get their hopes up too much. Higher spending and growth don't mean the unemployment rate will fall significantly this year. Economists think it will remain at around 9% by year's end.

12 Fastest Growing Economies of 2011

http://www.economywatch.com/economy-business-and-finance-news/12-fastest-growing-economies-of-2011-8-12.html

Many, well most, poeople say that China is the fastest growing country in the world, but that isn't how its measured, it is the fastest growing larger economy, and as we will see that is a different thing.

(the following list is copy pasted)

GDP Growth                    Value         

Ghana                         20.146 %  
Qatar                         14.337 %
Turkmenistan                  12.178 %
China                          9.908 %
Liberia                        9.003 %
India                          8.43 %
Angola                         8.251 %
Iraq                           7.873 %
Ethiopia                       7.663 %
Mozambique                     7.548 %
Timor Leste (East Timor)       7.4 %
Laos                           7.395 %

Deloped countries usually don't appear in the top 12 and almost half of 
the top 12 come from Africa. Ghana went from 4.5% in 2010  to a 
remarkable 20.146% in 2011. four countries from the list  are from the 
Far East, China from Central Asia, andQatar with Iraq being only ones in
 the Middle East, . In 2010 there was only 1 G20 nation in the Top 12. 
For 2011, India sure made some remarkable changes. This is the beginning
 of a larger trend.

Apple's Co-Founder takes a salary of $1 .... AGAIN !!

Apple Inc. chief Steve Jobs and co-founder of the company is taking an annual salaray of $1 .

Without Steve Jobs , Apple Inc. wont be able to be the the world's most-valuable technology company based on market capitalization, mr.Steve was the one who made the idea of iPod digital media player, followed by the iPhone, plus the iPad early last year .

Mr.Jobs known for taking a salary of $1 since 1997 . and he owns 5.5 million share of the company and hasn't sold any shares since 1997 .

And in the same time , it seems that the company's operating chief, Timothy Cook, taking a salary of $800,000 in 2010 along with other bonus money and bonds awards .

http://online.wsj.com/article/SB10001424052748704739504576067693546859346.html

The business cycle

http://www.quickmba.com/econ/macro/business-cycle/


The business cycle is the irregular changes that
business go thriugh ecinomically.
it is made of a)peak, b)expansion, c)trough, d) contraction.
Peak is the highest part of the business cycle ,Expansion is the part of the bussiness cycle in which economic activity is growing, Trough is the lowestb part of the business cycle,Contraction is lowest part of the business cycle,,, some economists count depression which is a major slowdown in economic activity.
Some causes of business fluctuations are
1) Business Investment: made of the innovations of business
2)Government activity : policies of spending and how to use taxes as well as its control over money.


Some indicators of business are GDP which helps to find out the condition of countries as well as if there are any inflation or recession , Employment which is how much people are employed ; the more the people are employed the more the economy increases and vice versa ,, and last: personal income ; the more peoplle have money the more they spend and vice versa.

Teens and blacks face highest unemployment

http://money.cnn.com/2011/01/07/news/economy/unemployment_racial_gap/index.htm

My Analysis:

The unemployment rates have decreases over the past year, but the teens, hispanics, and blacks are lagging behind in the unemployment situation. Teens are by far rated for having the highest unemployment rates at 25%, mainly because they are young, inexperienced, under-educated, and have the lowest skill, Why would i firm want to hire a teenager who lacks certain qualities and is not versatile.

Among adults, blacks face the highest levels of unemployment: 15.8% in December 2010, down only slightly from a year ago. economists say that most the unemployment is because of racial discrimination and poor education

( copy pasted )

"Study after study shows that the white college graduate is more likely to get the job, even if they have exactly the same resume [as the black applicant]," said Rob Fairlie, professor of economics at the University of California in Santa Cruz and a research affiliate at the National Poverty Center. "The only difference is the race."

Revision List for End of Term

Grade 10 Economics Revision Sheet

Pages: Study chapters 13, 15 (pgs. 407 – 417), 16 (pgs. 429 – 439), 17 (pgs. 451 – 460)

Topics include:

1.      Measuring the economy’s performance

2.      Money supply and the economy

3.      Regulating the money supply

4.      The functions of the government

5.      The federal budget and national debt

6.      The fiscal policy approach to stabilization

7.      Unemployment and inflation

Saudi Arabia Economy Expanded 3.8% in 2010

Saudi Arabia Economy Expanded 3.8% in 2010

Saudi Arabia's economy performed very well in 2010 , with the steady increase in the price of oil. Indicators point to the Saudi economy has expanded by around 3.8% in 2010. This increase saw the kingdom's budget post a surplus of 28 billion dollars compared to the deficit of 20 billion forecasted at the beginning of the year.

These measures will continue to grow into the new year and beyond hopefully. The government hopes that the GDP for 2011 will expand by 4% or more, while raising the activity in main sectors such as construction and logistics.

http://www.english.globalarabnetwork.com/201101068556/Economics/saudi-arabia-economy-expanded-38-in-2010.html

Japan Keeps a High Wall for Foreign Labor

Japan Keeps a High Wall for Foreign Labor

Japan is about to face a huge loss in its working force. According to government forecasts, by 2055 one in every three Japanese will be over 65 years old. The reason is its harsh policies regarding immigration.For example: Foreign nurses that wish to live and work in japan have to take a difficult exam that passed only 3 out of 600 nurses that were brought to japan from Indonesia and the Philippines. That exam was said to be designed to be failed in. Japan seems to have done everything in its power to keep immigrants away. Even foreigners who graduated from its universities and schools. Experts say that an open policy regarding immigration would be perfect boost to its economic growth. Yet japan continues to reject almost all people and the innovation they might bring from overseas. Foreign Investors are also concerned by the fact that japan is not very foreign friendly. The director of the Japan Immigration Policy Institute said that japan's decreasing population was the biggest problem and that America manages stays vibrant because it attracts people from all over the world.

Pakistan GDP

In the fiscal year 2008 pakistan's GDP was $454.2 billion as per purchasing power party, while pakistani GDP as per official exchange rate was estimated $160.9 billion. Research shows that real growth rate in 2008 GDP per capita income as been estimated to be aproximately $2000.

Economical condition of Pakistan is not developed as it suffrs from internal crisis at a few levels such as economy, low foregin investments and so on. However, Pakistan economy is showing trends of growth. This will lead to growth in GDP of Pakistan. Various measures were taken by federal government to maintain and speed up current trend of economic growth in GDP of Pakistan which will also will also lead to greater employment opportunities, increase in per capita income, and much less poverty, as was confirmed by Dr Ashfaque Khan, finance minister of Pakistan.

The War Over Spending

The country's over spending(Budget spending) will come to an end by marsh. That's when the temporary funding expires and when the country's debt load will be close to the legal debt limit. The real question is " What will happen in the seven remaining months of this fiscal year?" The budget fight could be voted whether to raise the country's debt limit, which is $14.294 trillion. If The Debt ceiling is ever reached then the country would effectively be in default which would mean failure to meet financial obligations. Fiscally Conservative lawmakers may use the opportunity of the upcoming debt ceiling vote to demand spending cuts in exchange for their supports.



Tax reform is the process of changing the way taxes are collected and managed by the government. Income rates can be greatly decreased if the hundreds of tax breaks in the code are streamlined with some being reduced in value and many being eliminated together. This first round of this Debate will take place on January 5. So what will happen, will they raise the the debt limit/ceiling or will they cut spending. If they decide to cut spending, hundreds of firefighters could lose their jobs. The economy will increase in the unemployment rate and will affect everyone.
Follow This Link: The War Over Spending

Summarized By Talat Zaitoun 10B1

Government checks to go paperless

http://edition.cnn.com/2010/BUSINESS/12/21/social.security.checks/index.html

The U.S. government has decided on a date that it will stop mailing certain benefits checks, and those who are applying for benefits after May,1.2011 will now get their checks electronically, and the ones that already got their social security benefits will have to set up a way to get their checks through direct deposit by march 13, 2013 .

By using direct deposit and electronic checks the people will receive their checks in a safe and more reliable way.

This huge change will provide a significant savings to tax payers.

The treasury is launching an education campaign to help people make transition to paperless transition.

buy using electronic checks the number of stolen checks will decrease and the user will be accessing his money easily.

summarized by: Qusay Al-Mahmoud

Tuition fees – the most progressive policy we’ve seen in ages:

Worried about tuition fees? You probably shouldn’t be. £9,000 a year might sound like a lot to have to borrow to pay to go to university but the truth is that very few people will actually have to pay the lot back.Say you borrow £30,000 over the three years you are at university. If you then go on to earn below £35,000 you will end up paying almost none of the loan back in the 30 years before it is written off (in inflation-adjusted terms)Only if you earn more than £70,000 will you eventually end up paying back all that you have borrowed plus interest. It is also remarkably progressive in the pure sense of the word: the low earning pay very little, if anything, and the high earning pay a lot.what all the complaining is about doesn’t it?

http://www.moneyweek.com/blog/tuition-fees-the-most-progressive-policy-weve-seen-in-ages-00296.aspx