MAN3240 EXAM 1 STUDY GUIDE 1 affected both directly and indirectly What are the basic ideas presented in the Ripple Effect video What industries were mentioned as http www youtube com watch v UMqyi6s41iE playnext 1 list PLC9904CA0CE2D115C feature results video Basically the ripple effect is that when people get laid off they stop going out and that hurts the restaurants which then hurts the food suppliers And then people those who work at the restaurants and food suppliers and even those that they hire like pet sitters Industries affected Meat suppliers Food restaurants Bank industry pet sitters 2 Understand how the recession has impacted social behavior at work Specifically know the research as related to sucking up increasingly demanding management and employee s perceived financial well being 55 of workers surveyed have said that management has grown increasingly demanding 40 have seen incivility sucking up backstabbing and 80 are concerned about their long term financial well being Have an understanding of the Foreclosure States Specially know which states are really bad high 3 foreclosure and which ones are pretty good low foreclosure Top 7 foreclosure states California Nevada Arizona Utah Illinois Georgia and Florida Good low foreclosure North Dakota Maine Mississipi West Virginia Be able to discuss the research related to parents perceptions of their children s future e g Gazing 4 into the Future and The Satisfaction Gap 50 of parents say their children will be worse off The satisfaction gap says that satisfaction with th way things were goings has decreased over the years with younger folks more satisfied than older folks after the recession 5 Know the specifics of the Flat Paycheck Recovery Two thirds of the jobs lost to the recession were middle income jobs but half of what have been recovered are low income jobs Yes the pay is coming back but at a significantly lower rate A number of reasons have been given for companies failing to hire more workers even though it may 6 seem that they are in a position to do so What were the factors discussed Know the specifics as outlined 1 Seem to be doing okay with what they have 2 trimmed a lot of fat in the past few years and go better at things 3 earnings may sound good but everything is relative 4 uncertainty with the government with money and the economy MAN3240 EXAM 1 STUDY GUIDE 5 they can outsource 6 don t want to go through what they went through in the recession again What was the general theme outlined in the Christian Science Monitor s article on job meaning How 7 did people perceive the importance of work How were male and female participants different The general theme is that a job means less to people than it used to It is less important than family and home life Males believed that their stress was caused by uncertainty in the job market and women s was based on balancing work and home life 8 Have an understanding of the major points outlined in the attached article Why are U S children s futures uncertain as a result of the recession How do younger people of this generation compare to those who lived through the Great Depression http www businessweek com articles 2014 08 19 the psychological damage of the recession is not going away 76 of Americans think their children will be worse off than they are Many of those in the great depression never took financial risk or invested in the stock market But they had pensions People now a days need to invest to help plan for retirement and 13 of the children of this generation describe themselves as financially conservative Which is not good Those who were children in the great depression had the help of the wartime economy and post war boom to help their economic situation whereas kids these days won t have that luxury Previous economic downturns have pushed entrepreneurship but the percentage of those that are self employed has fallen every year since the recession Changes in technology and trade have hollowed out the middle class making the gap between economic winners and losers bigger How has the recession caused American s anxiety to grow Overall how has the recent increase in 9 economic strength affected most people Why http www businessweek com ap 2014 08 28 survey americans pessimism on economy has grown 71 of people think that the recession caused permanent damage to the US economy Job security is no longer a thought to most Americans Overall the recent increase hasn t affected most people the way they would have liked Although unemployment is down and the stocks have gone up median income has not reached its level of prerecession 10 Read the Gender Wage Gap Myth article Describe the way that the information was calculated including any limitations in the way the final results were determined What are the reasons for women to celebrate http www forbes com sites realspin 2012 04 16 its time that we end the equal pay myth print The wage gap statistic is calculated as the median earnings of all men and women classified as full time workers The limitations towards this are that women tend to gravitate towards lower paying jobs putting children or less hours or a more comfortable environment over pay It also found that men on average work longer hours than women which the writer predicts is one of the reasons behind the pay gap Women have many reasons to celebrate today Women are increasingly taking on leadership roles in businesses around the world Technology is increasingly creating more flexible work arrangements creating new options for parents to combine work and family life Women are excelling academically earning far more college degrees than men Given that the economy tends to place a premium on education we can expect women to contribute and earn more in the future MAN3240 EXAM 1 STUDY GUIDE 11 Allegedly how does the gender wage gap change over the course of one s career Know the trends The gender gap increases over the course of ones career do to Choice of occupation Development of human capital Work experience Career interruptions Motherhood Industry Health Benefits Insurance Overtime Understand women s earnings as a percent of men s various characteristics Know the percentages 12 across the various characteristics Never married women make 96 9 of what men make Single women with no children under 18 make 96 of what men make Women aged 20 24 make 93 2 of what men make Married women with a spouse present make 77 6 of what men make Married women with children
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