Wanted: Lousy job, low pay

Read this CNN article on how businesses and job seekers are impacted by the current economic crisis

Level 1: Knowledge
Define the following terms
1a) Unemployment
1b) Recession

Level 2: Application
2a) Construct a demand and supply diagram to explain the article statement "Between the increase in overall job seekers and the reduction in the number of jobs available, competition for even the least desirable jobs has become much steeper".
2b) Explain the main problem currently faced by HR departments (Hint "We could write the ad in Russian and it wouldn't matter")

Level 4: Evaluation
4) Imagine that your friend is looking for a job. Advise him/her on the strategy they should take.

Note Level 1 – Level 4 are questions based on IB standards where

Level 1: Knowledge
Level 2: Application
Level 3: Analysis
Level 4: Evaluation

Words in bold (define, explain…) have a specific meaning in the IB Diploma Program (DP). The meanings are in Glossary of Command Terms Section of the IBO DP Business and Management Guide available at the OCC and from my website

Citigroup job cull to hit 75,000

The problems faced by Citigroup are described in this BBC article and this one.

Read both articles and answer the following questions
1) As a result of the financial crisis,
a) What are Citigroup’s losses this year?
b) How many workers will lose their jobs at Citigroup?
c) How much has been given to Citigroup by the US Government to ‘bail-out’ the business?
d) How much has Citigroups share price fallen

2) What has Citigroup done to try and restore the bank to profitability?

3) Vikram Pandit was appointed CEO of Citigroup in January 2008. What factors are mentioned on the article(s) for AND against the choice of Mr Pandit for this top job?

Unemployment rises in China

These 2 items from the BBC show the impact of increasing unemployment in Chinese manufacturing caused by the current world financial crisis

Chinese mother's struggle to find work

This short video shows how unemployment caused by the current world financial crisis has changed the life of a worker in China's manufacturing sector.

Chinese job losses prompt exodus

This article describes why unemployment has risen in Guangzhou, and why the Chinese Governement should be worried about the decline in China's manufacturing sector.