How Current Budget Cuts Affect Employment Essay Example | Topics and Well Written Essays - 750 words

How Current Budget Cuts Affect Employment - Essay Example Legislative leaders persist that the future budget plan released is only the beginning hence will undergo wide revision before the ultimate budget is approved in the legislative session. Conservatives also argue that deep reductions are needed to harness the full benefits of the on-going programs aimed at realizing federal budget cuts. The shrinking government expenditure is spreading, influencing negatively the key sectors of the economy because of closures, job cuts and multibillion-dollar decrease in government services that supply a wide range of the economy (Dwivedi, 2010). The level of budget cuts would definitely have an impact on the economy since it exceeds what is likely to attribute to ineffectiveness, and it reduces some major programs that the state requires to remain competitive such as healthcare, transportation and education. The most significant effect the current budget cuts is in the education sector where assistance to school districts has been reduced to approxim ately $9.8 billion. This will directly led to a total loss of 100,000 jobs in school upon implementation. Significant budget cuts in the health and human services, and Medicaid runs through the healthcare industry, threatening loss of job among approximately 360,000 employees in the 592 hospitals in Texas alone. The Department of Aging and Disability Services, which employs millions of caregivers across the US is likely to be closed if the cuts are affected. This will lead to a massive loss of jobs. Local workers in homes for the elderly will subsequently lose their jobs and reduce expenditure, which would have a substantial on other economic sectors. State government would likely feel elimination of state jobs, but the reductions could reach elsewhere across the state, affecting positions in regional and district offices of state agencies. The proposed cuts have created anxiety among state workers, many of whom fear that they will eventually join private-sector counterparts in fili ng for unemployment, writing, and scouring postings. Deep reductions are required to reverse the irrelevant growth of bureaucracies in local school districts and the state government. Extended public employment, both at the school district levels and the state level, creates an extra strain on the state budget. The loss of a government worker results in the loss of one and half additional jobs when working on the total economic impact. Public job cuts also differ according to location. The loss of a government worker in a rural area or small town would have a more effect than government outpost in densely populated areas, which could absorb the loss easily (Lopus, 2003). Government has a positive effect by promoting growth of business and creates more private-sector jobs, which in turn offer job opportunities for government workers who have been displaced By eliminating childcare services, the states would get rid of all states’ childcare fund, which results to thousands of j ob loss. Since many providers work part time as childcare assistants, the proposed cuts affecting the job of child caregivers, would lead to loss of their jobs. In such circumstances, many parents would forego their

Past and Present Economical situation (Macroeconomics) of South Africa Research Paper

Past and Present Economical situation (Macroeconomics) of South Africa - Research Paper Example In the similar context, it has been stated by the scientists that the Late Stone Age people are living in southern part of Africa for a very long period before the blacks or the whites came into being to stay there. Furthermore, it can be stated that according to the evidences provided it can be observed that a sculpture of a rock is created by the Khoisan around 26000 years ago. The introduction of iron changed the African continent completely and it therefore provided a boost in the development of mankind. Agriculture has altered the lifestyle of the African people completely as South Africa largely is an agricultural country. The farming of agricultural lands provided an important aspect in the overall development of African population. Agriculture is a key contributing factor towards the overall economic growth in South Africa (The Early History of South Africa, n.d.). Short History about the Economic Background of South Africa South African economy has been a generally fluctuati ng economy. In the past few decades, it has witnessed a sustained growth in terms of real per capita income. However, in recent decades noticeable fall in real per capita income was observed primarily due to political instability as well as change in the country. According to the observation of World Bank, it can be idealized that in the middle income nations such as South Africa economic regress can occur as rapidly as economic progress. The global economic environment has been a major influence on the pattern of economic development in South Africa over its historical progression (Fedderke & Simkins, 2006). Figure: Real Per Capita GDP as well as Associated Growth Rate, A Historical Trend in South Africa Source: (Fedderke & Simkins, 2006) In the current context, the economy of South Africa is recovering from the earlier setbacks, but it has been weakened due to certain economic slumps. Moreover, with reference to the current trend of advanced economies, it can be recognized that du e to economic setbacks growth has become too low largely due to considerable depression in unemployment. In the related context, it can also be said that according to World Economic Outlook, it can be predicted that there was slump in the economic aspects from the initial part of 2012. Economy in the global context will remain at around 3.3 percent and 3.6 percent in 2012 and 2013 respectively. Productivity is expected to remain sluggish in advanced economies, providing no effect on the emerging markets and developing economies. Moreover, unemployment is likely to stay high in most of the parts in the world, with the financial conditions remaining delicate according to the reports presented by Global Financial Stability Report (GFSR) in October 2012. These factors have an impact on the overall economic scenario in South Africa in the coming years (International Monetary Fund, 2012). Demographics of South Africa Demography is the numerical study of prevailing human populations. It in cludes the study of the structure, size as well as distribution of varied dimensions of a country’s population which also relates to birth, age and death. The analysis can be incorporated in the context of certain societal or group aspects such as education, nationality and ethnicity among others. The demography of South Africa is estimated on the basis of the statistical information gathered