The Caused and Effects of Lehman Brothers Bankruptcy

The caused and do of Lehman Br otherwises loser. ? Lehman Brothers was founded in 1850 and it is a diversified investing patois provided fiscal services for global companies, institutions, governments and investors. Lehman Brothers was adept of the around powerful stock and bond underwriters and dealers in the world, and it also as the fourth bear-sizedst investment bank in the United States before. Because of widely recognized to Lehmans ope balancenal capacity, the telephoner had many world-renowned companies as its customer plate much(prenominal) as Dell, Fujitsu, IBM, Intel, Philip Morris, Shell and Wal-Mart 1.Lehman Brothers had faced four collapses before it nonstarter, one was the stock merchandise smasher of 1929, second it had raise rate loss of $6. 7 million in 1973, and then because of Lehmans inborn conflict lead to be merger and acquisitions by Ameri batch Express in 1984, and farthest one was shortage of cash in hand in 1994. Richard Fuld as Lehmans CE O from 1993, he led to Lehman Brothers grow up and avoid those four collapses. Even Lehman Brothers was turned the corner in these four collapses it still declared bankruptcy as a result of $613 billion total debt in 2008 7.Lehman Brothers went to collapse make lots of impacts on pecuniary markets, the most important reason caused Lehman bankruptcy is under the subprime mortgage crisis and complex financial markets. earlier the subprime mortgage crisis of 2007, the U. S. existing estate market over the leveraged financing and oil price was increase rapidly, many people in the excessive lending. However, Lehman Brothers had go along business of mortgage bond until the outbreak of subprime mortgage crisis in 2006, Lehmans asset management, economic services, mergers and securities underwriting business accounted for Lehmans operating income of 40% 2.In 2008, because the subprime mortgage crisis spread to Lehman Brothers, the association suffered a serious hit from the financial losses and caused that stock price fell to only a fewer dollars. In September 2008, the Lehman Brothers CEO Dick Fuld had experienced the most painful financial crisis in the history of the United States and the company went bankrupt. The Lehman Brothers which had experienced 158 years history toward to end 1. Also, the collapse of Lehman Brothers brought an singular shock wave for financial market and investment banking. The terrorist attack on 2001, September 11 led to conomic haveturn and the stock market depressed, the Federal Reserve decided to continue kept low interest rate to ensure the most of enterprises and frequents can achieve loans easier 9. Due to the public would had more money to be used for mortgages and other spending, Lehman Brother seized the opportunity to develop its business so that Lehmans meshwork harvest quickly in the second half of 2002. Lehman Brothers sales r yetue of subprime mortgage raised double of profits in both years 2004 and 2005 3. And L ehmans present value of subprime mortgage CDO (collateralized debt obligations) investment reached up to $80 billion 5.Lehman Brothers issued two mortgage bonds companies in the United States are BNC and Aurora. These two branches of mortgage bonds and purchased from other companies represent the CDO package. The worth of CDO could be about hundreds of millions and even billions of dollars to divide for sale to investors around the world. The interest rate of CDO is untold higher than the national bonds in the United States and other investments, so Lehman Brother took advantage of sale these bonds to gained large profits. After that, the public began to worried more about future develop of CDOs from Lehman Brothers and other companies.Then, Lehman Brothers shut down one of the mortgage bonds company BNC because of huge losses and this caused the publics panic of the book of facts crunch. The public began to suffer a serious mortgage crisis 7. As a result, the crownwork losses a nd lack of credit to the banking system, so that no banks willing to lend money unless borrower to pay high interest rate. The banks which involved in this business are worried about losing their money. However, Lehman Brother was still announced good quarterly results even had problems and other investment banks (e. g.JP Morgan Chase, Citibank) had losses. In January of 2008, Lehman Brother reported their earnings shown that highest income up to $4 billion and their crown just $30 billion 2. At that time their stock price up to $65, but eightsome months later the price fell to $4 with more than $600 billion debt. Since 2008, Lehmans stock price had locomote by 60%. Besides, Lehman Brothers had alternative assets about $40 billion such as hedge funds, confidential equity funds and real estate funds. In May, Lehman Brothers reported that losses in hedge funds but then said they are recovered 11.Because of Lehmans total debt $613 billion, and then the negotiation with Barclays ti ll and bank building of America about take over Lehman Brothers was failed on September 14. While at the comparable time the investment banks gave up to help Lehman Brothers, Lehmans market value dropped dramatically, these fact forced Lehman Brothers to filed for bankruptcy protection from the U. S. Bankruptcy Court in Manhattan on September 15, 2008 4. After filed for bankruptcy, Lehman Brothers exchanged trading at the OTC (Over the Counter) market only $0. 05 per share.Lehman exercised put option to ensure holders could get profit when they buy the stocks as $0. 05 per share and sell for strike price 10. When the news of the fourth largest bank Lehman Brothers went bankrupt came out, the dollar currency and the U. S. stock index futures was declined at the same time, this indicated that the New York stock market crash in the indeterminate market. In order to prevent the open market crash of Lehman Brothers, the U. S. Treasury and the Federal Reserve clay made great effort o n three days to save markets. The investment bank Barclays and Bank of America exited.The Britains third largest bank Barclays decided to drop out after the government refused to provide financial guarantees to save Lehman Brothers. Then, the bank of America all announced exit the action. Because the government refused to help and no other support, Lehman Brothers final decided to file for bankruptcy protection caused by suffered serious financial crisis6. As we can see, there are many factors caused bankruptcy of Lehman Brothers, such as market changes and instability led to positive risks, the internal problems and risks from Lehman Brothers.The internal problem is one of the most important factors to cause it collapse. As the fourth largest investment bank in the United States, Lehman Brothers more focused on the traditional investment business such as underwriting securities, mergers and acquisitions for a long term. With the rapid development of financial derivatives and fixe d income products trading, Lehman Brothers strived to thrive these businesses and achieved great success. The real estate and credit business develop rapidly after 2000, Lehman Brothers began to involve in these business as other banks 6.However, Lehman Brothers expanded too fast and even in the decline of real estate market in 2007, the commercial real estate bonds of Lehman Brothers still grown quickly. Thus, the rapid growth created more systematic risks for Lehman Brothers. In addition, Lehman Brothers was different from other investment banks like JP Morgan Chase, Bank of America because Lehman had less own capital and its capital adequacy ratio is too low 6. In order to collected funds to expand business, Lehman had to rely on the bond market and bank lending market.The greater is the leverage ratio when the company borrowing more money from banks, but it has less equity capital. The profit is amplified by the leverage ratio when it makes money, but the loss is enlarging with the leverage ratio when the company has loss. The lack of funds would be increase the risks for the company when it loss. Moreover, to analyzed the problem of Lehman Brothers collapse, it also should be related with the U. S. subprime mortgage crisis and recent financial turmoil escalate from the summer of 2007. In addition, it also considered about the problem of insolvent.Lehman Brother had more than $600 billion bank loans, $ clv billion debt securities, and only $639 billion net assets 8. Besides, the U. S. government took non-interventionism accelerated collapse of Lehman Brothers. As the U. S. government did non make any financial support or warranty to save Lehman Brothers, and leave the market withdraw the news of the Lehman bankruptcy. The government refused to guarantee Lehman Brothers directly caused many investors to exited, while the Barclays preferred to acquire part of Lehmans investment business in the United States, this still not strong enough to save Lehman Bro thers.Furthermore, the financial markets turmoil around the world should be cloak Lehman Brothers, and it also one of a reason affect many companies to left Lehman stocks and bonds whether the U. S. financial institutions or foreign enterprises. Since the market got the news of Lehman Brothers bankruptcy, the Dow Jones Index has dropped nearly 800 points 7. In short, Lehman Brothers bankruptcy caused the devaluation of investment, cash flow problems and additional losses. Also Lehman financial crisis had a great influence on investors directions.Many investors worried about Lehman crisis would be exacerbated the financial crisis and the market prospect is gloomy. Therefore, the Wall Street investment bank Lehman Brothers was collapse in the financial tsunami of 2008. Then on March, 2012, it completed the bankruptcy reorganization and will be to repay debts to creditors. After that, the fourth largest investment bank of the United States has become a historical. The bankruptcy of Le hman Brothers baron impact the entire financial market, the investors worried about the outlook of the U. S. economic and the international oil rices continued to decline. And the investors also concerned that the demand of crude oil and other commodities is likely to fall under the tone of global recession. At the same time, the risk aversion awareness prompted investors to sell commodities and high risk assets. The U. S. stocks crisply down and European stock markets also had a significant decline. The event of Lehman Brothers gave to the world economic recovery to cast more dark shadows in 2008. References 1 Lehman Brothers Collection. Harvard Business School. Baker Library. Retrieved from http//www. ibrary. hbs. edu/hc/lehman/history. html 2 Sean Hinton. Lehman Brothers (LEHMQ). Wikinvest. Retrieved from http//www. wikinvest. com/stock/Lehman_Brothers_%28LEHMQ%29 3 Landon doubting Thomas Jr. (July 23, 2003). Market Place Lehman to Buy Neuberger Berman For $2. 6 Billion. The New York Times. Retrieved from http//www. nytimes. com/2003/07/23/business/market-place-lehman-to-buy-neuberger-berman-for-2. 6-billion. html 4 Lehman Bros files for bankruptcy. (September 16, 2008). Retrieved from http//news. bbc. co. uk/2/hi/business/7615931. stm 5 Lehman Brothers Holdings, Inc.Spector Roseman Kodroff & Willis. Retrieved from http//www. srkw-law. com/areas-of-practice/international/lehman-brothers. html 6 Luigi Zingales. (October 2008). Causes and Effects of the Lehman Brothers Bankruptcy. Retrieved from http//www. scribd. com/doc/11096014/Causes-and-Effects-of-the-Lehman-Brothers-Bankruptcy 7 Lehman Brother. Retrieved from http//en. wikipedia. org/wiki/Lehman_Brothers 8 Kim Sarro & Justin Pak. (November 29, 2008). The Causes for the Collapse of Lehman Brothers Holdings Inc. Retrieved from http//www. articlesbase. om/business-articles/the-causes-for-the-collapse-of-lehman-brothers-holdings-inc-664202. html 9 Lehman Brothers The last empire of wealth. (December 6, 2011). Retrieved from http//www. stockmarkettoday. cc/lehman-brothers-the-last-empire-of-wealth. html 10 What Happens To Options During Bankruptcy. Option Trading Pedia. Retrieved from http//www. optiontradingpedia. com/what_happens_to_options_during_bankruptcy. htm 11 Hedge funds post biggest losses since Lehman. (June 2010). Retrieved from http//connection. ebscohost. com/c/articles/52970726/hedge-funds-post-biggest-losses-since-lehman

Leopold Sedar

Leopold Sedar Senghor (9 October 1906 20 December 2001) Leopold Sedar Senghor was born in Joal,Afrique Occidentale Francaise(French West Africa now Republic of Senegal), to a Serer (third largest ethnic group in Senegal) Father and Roman Catholic mother. In 1928 Senghor traveled to Paris to continue his studies on a partial scholarship. He became the first relentless African to become anagrege, the top qualification for a teacher in the French education system, and became a professor of African languages and civilization at theEcole Nationale de la France dOutre-Mer.When Senegal achieved independence in 1960, Senghor was elected its first president. He retired from the presidency on 31 December 1960. Senghor retired to France, became the first black African member of the French honorary society in 1984, and published his memoir,(That Which I Believe Negritude, Frenchness, and Universal Civilization) in 1988. He died at Verson, France, on 20 December 2001. Philosophy Leopold Sedar S enghor believes that every African shares certain distinctive and innate characteristics, values and aesthetics.Negritude is the active grow of an Black individuation in this inescapable and natural African essence. (The major premise of Negritude is therefore that wholenesss biological make-up (race) defines ones outer (skin color) as well as home(a) (spirit/essence) traits. It is a concept which holds that there is a shared culture and subjectivity and spiritual essence among members of the equivalent racial group. Instead of rejecting the (colonialist) theory that race defines ones being Negritude rejects the assumption that the African is inherently inferior to the white man.To Senghor, this makes Negritude a weapon against colonialism and an instrument of liberation. To Senghor, the African essence is externalized in a distinctive culture and philosophy. This claim is supported by Senghors assertion that Negritude the rooting of identity in ones natural essence is diame trically opposed to the traditional philosophy of europium (the colonizer). To Senghor, European philosophy is essentially static, objective It is founded on separation and opposition on analysis and infringe.In contrast, African philosophy is based on unity, balance, negotiation and an appreciation of movement and rhythm. Senghors idea of Negritude posits an essence for blacks who are intuitive, sensual, and creative. In other words, he argues that blacks have a unique essence, with out which the civilization of the Universal would be incomplete. (This is reminiscent of Du Bois belief that Blacks have a particular value to tot up to world history). This essence, according to Senghor, is opposite from the white essence, which is based in reason and objectivity.

The Relationship between Medical Technology

It Is grave to ingest biochemistry if you want to be a medical technologist, because it is a basic manageledge requi release in a clinical practice. It is an Important building block if you are going to study medicine. Biochemistry discusses the chemistry of dissimilar body portion Like the blood, urine or any former(a) fluids, since medical technologists analyze those to ensconce a disease.Biochemistry will help medical technologists understand physiological disorders and diseases. In geochemistry we study about the carrel Its parts, functions and chemical reactions, a medical technologists should understand the cell because It Is the cell, which Is universe observed whenever aroundone Is trying to approach pattern out what Is wrong with his or her health.There Is what we call the CB or complete blood count this Is an evaluation of the red blood cells, white blood cells and platelets, If you know nothing about cells it will be impossible for you to grade out what is doing okay and what is not, if there is a difference or if something is wrong, if you dont know about all the acacias and so you understructure not perform your job as a medical technologists well.There are many other test associated with the cell so it is all eventful(predicate) to know about basic properties first in the first place lamentable into much advance subjects so that you will stimulate a guide or you laughingstock rig out yourself or at least you already have an idea on what you will do. Also we study about carbohydrates, learning and understanding carbohydrates is essential so one medical technologists can monitor your bloods glucose level, to know if you have diabetes or not. Because high level of glucose is usually a sign of diabetes.Proteins is withal one of the lessons being taught in biochemistry Protein builds, maintains, and replaces the tissues in your body. The right amount of protein is important in our diets, for growth and repair, and also protein is a important building block in the body. Proteins can be antibodies, hormonal, enzymes and contractile proteins, so that is why I opine it is a must that medical technologist know about it because it provides structural support and it is a plea against germs and infections.Lipids is also being discussed, it is important o medical technology because it is the bulk of a living number is made up of lipids, Lipids carry fat soluble vitamins and form special bimolecular. Lipid imbalance can lead to serious diseases like obesity and atherosclerosis. Break down of fatty acid produce energy, uppity breakdown cause ketosis, acidosiss, coma and death. And It Is the Job of a medical technologist to figure this out before things become worst. Biochemistry talks about nucleic acids about DNA and RNA and etc. Tests of DNA and RNA can be used to find most of the conversions found by cytokine tests. They can also find some conversions or change Involving parts of chromosomes too small to be seen u nder a microscope with usual cytokine testing. This symbol of advanced testing can help classify some leukemia and, less often, some sarcomas and carcinomas. These tests are also useful after treatment to find small numbers of remaining leukemia cancer cells that may be missed under a fluids because Medical technologists are known to perform and analyze the results of complex scientific tests on blood and bodily fluids.One of the MAJOR subject a tech student would encounter is homology and I like to believe that biochemistry will serve as a guide for us to be active and have basic idea about that subject. When something is wrong with your blood, it can affect your total health. That is why it is important for a certain mediate to know or analyze so he/ she can utter test results to a doctor or patient. And of course there is urine, urinalysis have, for hundreds of years, been one of the ways physicians have looked at health, studying urine might not be the best thing to do barel y it will all be worth it in the end.One should be accurate and analyze things well and I think everything will Just be fine. I know there is a lot much because after doing this I concluded that maybe biochemistry is one of medical technologies bestrides because they are so much besides and it comes hand in hand. After doing this essay I realized that biochemistry is not Just something you should be escaped easy with because it will play a major role in those major subjects that doesnt sound easy, Im glad this serves as an eye opener for me to do my best, listen and study really well.

Curbing Unemployment Through Skills Acquisition

curb bit Un practice with Skills Acquisition A conceive of the subject Directo account of body of work (NDE), Kaduna bring up By AMUPITAN, Oboromeni federal University, Lokoja Nigeria January, 2011. ABSTRACT The paper Curbing Unemployment by compresseds of Skills skill A case of the National Directo respect of exercise (NDE)Kaduna State is about unemployment and how it give the axe be mowd through skills erudition. This naturalise is aimed at finding out how the NDE has reduced unemployment through its skills scholarship computer programme.Data was collected from both un puzzleatic and secondary sources which include published and unpublished defecates, journals, internet, questionnaires and interviews. The systematic sampling mode was used in determining the sample surface of 150 respondents, statistical put offs was used in selective information analysis epoch the Average Mean S vegetable marrow method was used for the test of the hypothesis formulate. The formulated hypothesis which conjure ups that inadequate skills attainment has take to an growing in graduate unemployment in Kaduna State was Accepted.It was spy and also recomm dyinged that skills acquisition is an effective overlyl in reducing graduate unemployment. Thus, specific skills acquisition schemes should be include in the plan of post-secondary shoals to help make graduates self sedulous. INTRODUCTION 1. 1Background of the adopt Unemployment is no thirster an alien word to the worlds populace. Even the western world experienced a decorous rise in their unemployment put, as the official unemployment rate in the 16 European countries that use the euro uprise to 10% in December, 2009. Deutsche. 2010) Developed countries which as yet experienced full employment are presently affected. The bunk in Nigeria is quite alarming as the unemployment rate slants to be on a perpetual rise. In nations, most especi each(prenominal)y, developing countries like Nigeria unemployment serves as a major yardstick for instruction as was right portrayed in Dudley Seers definition of development. Seers (1969) asserted that The questions to ask about a earths development are in that respectfore what has been happening to poverty? What has been happening to inequality?What has been happening to unemployment? If all three of these select declined from high level, so beyond doubt this has been a period of development for the country concerned. If one or two of these central problems stomach been worse especially if all three dumbtack together, it would be strange to speak the result development in time if per capita income doubled. As a result of this consequence and the rising rate of unemployment, the national Government of Nigeria established a committee in 1986 to proffer solution to the menace (unemployment).The committees recommendations formed the basis for the establishment of the National Directorate of mesh in 1986 established to curb a nd reduce the rate of unemployment through skills acquisition, self employment and comminute intensive work authority scheme. 1. 2Statement of the Problem The International force back Organisation feels occurs when a some(prenominal)one is available and willing to work besides currently without work. It is pathetic that much(prenominal) occurrence is prevalent in the nation. Ake opined that unemployment form the greatest challenge of the economic well beingness of the Nigerian Nation (Daily Trust Newspaper, Jan. , 2010 Pg. 34) Unemployment rate has been of immense interest group to the everyday public and form _or_ system of administration makers. The Small and median(a) Enterprise victimisation Agency of Nigeria (SMEDAN) was established in 2003 to advance the development of Micro, Small and Medium Enterprises (MSME) empyrean of the Nigeria thriftiness. It is to source, process and disseminate business information, develop policy, establish business body forth pr ogrammes build capacity and promote service, enhance MSME access to finance. The question is how may Micro Small and Medium Enterprises have emerged from this scheme?The upstart crisis in the financial vault of heaven which has led to a ban on loan is an obvious bound to this scheme. Should our graduates then plow un occupied because banks are not giving out loans? Anformer(a) of such programme is the Nigerian Agricultural Co-operative and Rural Development Bank (NACRDB) Limited which is dedicated to financing agriculture at both micro and macro instruction levels, they are to provide affordable financial and advisory services to the leaven and non-farm enterprises of the Nigeria scrimping using well trained and highly motivated cater, back by appropriate technology.If the NACRDB provided such assistance on time and make their procedures slight cumbersome, m each race would have been attracted to the scheme. nevertheless ironically, such funds more(prenominal)(prenomin al) often than not are eventually make available at the end of the farming season. Also programmes such as (the Directorate for food, Roads and Rural Infrastructures former(a)wise cognise as (DFRRI), Mass Mobilization Self Reliance and Economic Reconstruction (MAMSER) and the National Agricultural Land Development Project (NALDA) created by the Babangida regime were all scraped by the Abacha regime.During the 1980s there was a global deferral which became progressively worse for Nigeria because of the inherent weakness in the economy. The sharp decrement in cover prices led to cuts in government expenditure budgets operateership to a reduction in employment opportunities especially school leavers. Hence, in drift to curb the menace of the rising unemployment rate and considering its political and socio-economic implication which includes a general change magnitude in crime rates, such as armed robbery, youth restiveness, political thuggery, alcoholism, vandalization of o il color pipes and electricity cables and prostitution.Economic wastage such as excessive loss of output which manifests in a reduction of Gross internal Product (GDP) and gross underutilization of Human Resources were reasons which led to the establishment of the National Directorate of Employment in 1986 to create employment for the teaming unemployed. Unfortunately, unemployment has either been on the rise or fluctuating, this is reflective in the various unemployment rates. As at 1985, unemployment rate was 8. 5% 14. % in 2005 and as at December, 2009 it became 19. 7% (Wikipedia Encyclopedia). Is the National Directorate of employment aliveness up to its mandate or are there other factors that affect unemployment? This, the researcher seeks to find out. Hence, this account seeks to find out how the National directorate of Employment has helped in reducing unemployment through skills acquisition programmes. 1. 3Objectives of the Study 1) To determine the causes of unemployme nt in Nigeria. ) To find out whether skills acquisition will help curb unemployment to the barest minimum. 3) To proffer realistic solutions to the problems being faced by the National Directorate of Employment and make recommendations that will help mend the Directorate. 1. 4 Hypothesis Tested The fol di livingeding hypothesis was formulated That inadequate skills acquisition has led to an make up in graduate unemployment in Kaduna state. 1. 5Signifi disregardce of the StudyThe sketch would provide vital information on the reduction of unemployment through skills acquisition thereby helping not just students of public administration save the general public, policy makers and politicians, who are either affected in one focal point or the other or charged with the task of making developmental policies to set their priorities right. On the livelong, the work would also add to knowledge. 1. 6Scope and Limitation This study is limited to the graduate scheme of the National direc torate of Employment, Kaduna state.Focus was on two local governments, that is, Zaria and Kaduna north, mainly because they have a bun in the oven the highest proportion of graduate beneficiaries. The time frame used is 2005 to 2009. 1. 7Methodology Data for this study was collected from both primary and secondary sources, which include textbooks, journals, wisespapers, article, and the brochure of National Directorate of Employment, National Directorate of Employment annual reports, commove documents, internet, and publication, among others.Primary data were sourced mainly from questionnaires administered to both staff and beneficiaries of the National Directorate of Employment. Population and Sample Size ii local governments (Zaria, and Kaduna South) were picked as the focus basically because they have the highest amount of graduate beneficiaries. Thus, 150 questionnaires were administered to both members of staff and beneficiaries. The Systematic Sampling method in which 1 re spondent was picked out of every 8 respondents was used. This gave a sample size of 150 respondents out of the total population size of 1200 good deal.The total population size includes both beneficiaries and staff is 1200. The data collected were analysed using descriptive statistical techniques i. e. Average mean nock and tables will form the basic analytical tools. LITERATURE REVIEW AND THEORETICAL FRAMEWORK 2. 1Discussion of Related Concepts 2. 1. 1Unemployment Unemployment as defined by the International Labour Organisation occurs when a person is available and willing to work nevertheless currently without work. Thus ILO curbs that only a person who is willing and available to work can be referred to as unemployed.This implies that not every embody who is not workings is unemployed, To Colander D. C. unemployment occurs when pack are looking for a melody and cannot find one. This further concurs with the earlier definition where there is a conscious trend by the perso n or mess seeking employment, simply fails to point out if the person or people in question have something doing or not, because some people who are working seek smart jobs. Form the foregoing definitions, one is forced to ask if everybody willing and available to work could be termed unemployed, evened if the person is a child.To this Frank R. et al defined unemployment as adults not holding a job but looking for one. Who then is an adult? An adult is one who is 18 years and in a higher place, therefore the definition could be said to be Anyone who is 18 years and above who is not holding a job but looking for one could be termed unemployed. In line with the aforementioned, the means of Labour Statistics ground forces considers a person who is 16 years or older who has not worked during the preceding week but made some effort to find work (for example, by going to a job interview) in the past quatern weeks as unemployed.Unemployment in Nigeria has actually become a menace , a vivid picture of which was painted by former executive secretary, National Manpower gore (NMB) Umo when he said at a seminar that the problem of unemployment amongst our tertiary gradates is of new-fashioned vintage, if situated in a historical perspective, it is not more than two decades since it started, but since then, it has become unabated and cumulative. To him many young graduates move from commodious spells of unemployment to high crimes including armed robbery while others have become handy tools for unscrupulous politicians. 2. 1. 2EmploymentThe Oxford Advanced Learners Dictionary defines employment as the accompaniment in which people have work. This definition clearly States that when a person has work doing he/she is employed but fails to specify if the person is being paid for the work or not. Operationally, employment could be referred to the act of labour force being temporarily or fully occupied on either compensation basis of interest basis for self occupi ed work. This definition added a new dimension, in that employment could be work based on reinforcement or mere self interest either way, one is employed provided he/she is working.Frank et al defined employment in terms of being employed. To them a person is employed if he or she worked full-time or set about-time (even for a a couple of(prenominal) hours) during the past week or is on vacation or sick-leave from a regular job. In a nut shell, employment could be defined as a person who is currently working for advantage or self-interest. 2. 1. 3Labour Force Thomas J. H. et al (1970) defines labour force as the non-institutional population who are working or looking for work.That is, it includes the unemployed, employed, proprietors, the self employed and members of the armed forces. To him, the labour force excludes all person engaged exclusively in housework in the homes or attending school, that is, a student, is not a member of the labour force unless he is working in addit ion to attending school (it is worthy of note that non-institutional population refers to all persons 16 years of age and older including members of the armed services but excluding persons in institutions). 2. 1. 4 all-embracing EmploymentTo Ackely the belief of full employment is a very slippery concept and though full employment is not definable nor should it be defined, believes that Henry Hazlutt, it is worth-while analyzing the various views of economists on full employment. The Greco-Roman View The classical economists believed in the existence of full employment in the economy. Full employment to them was a normal situation and any deviation from this was regarded as abnormal. To the classical economists unemployment resulted from the rigidity in the wage structure and interference in the working of free market system.This comes in the form of care union legislation, minimum wage legislation etc. On the other hand, Full employment exists when everybody who at the runnin g rate of wages wishes to be employed. According to Pigou, those who are not prepared to work at the existing wage rate are not unemployed because they are voluntarily unemployed. To them, there should be no possibility of involuntary unemployment in the sense that, people are prepared to work but they do not find work. According to the classical economists, the above view only operates in an ideal economy.This far differs from the reality in which involuntary unemployment is prevalent. The Keynesian View To Keynes, full employment instrument the absence of involuntary unemployment. That is, full employment is a situation in which everybody who wants to work gets work. He assumes that with a given organisation, equipment and technique, real wages and the volume of output are uniquely co-related so that, in general, an increment in employment can only occur to the accompaniment of a decline in the rate of wages.In order to achieve full employment, Keynes advocates increases in effe ctive demand to bring about reduction in real wages. 2. 2Types of Unemployment economic experts have distinguished amongst various types of unemployment which includes circular Unemployment, Frictional Unemployment, Structural Unemployment and Classical Unemployment. The aforementioned types are the most widely accepted by scholars. Other additional types that are now and again mentioned are Seasonal unemployment, Hardcore unemployment Migrated unemployment. . 2. 1Cyclical or Keynesian Unemployment Cyclical or Keynesian unemployment is also cognise as Demand Deficient Unemployment. It occurs when there is not enough summationd demand in the economy. Cyclical unemployment exists when the number of workers demanded falls short of the number of persons supplied (in the labour force). It gets its name because it varies with the business cycle which consists of alternating periods of booms and depressions. Robert F. et al said it could e likened to the most familiar form of musical chairs, in which the number of chairs is always less than the number of players. The Great Depression of the 1930s is a striking example of Cyclical unemployment. In Nigeria today, the recent economic in Nigeria recession where supply was more than demand, most especially in the private firmament is an example of cyclical unemployment. 2. 2. 2Frictional Unemployment Frictional unemployment occurs when a worker moves from one job to another. The time period between jobs is considered frictional unemployment.Frictional unemployment is an example of a productive part of the economy, increasing both the workers long term welfare and economic efficiency and is also a type of voluntary unemployment. 2. 2. 3Structural Unemployment Structural unemployment occurs when the verse of jobs in a labour market are unable to provide substantial jobs for everyone who wants one. 2. 2. 4Classical Unemployment Classical or real-way unemployment occurs when real wages for a job are set above the marke t clearing level, do the number of job-seekers to exceed the number of vacancies.Economists like Murray Ruthbard, suggest that even fond taboos can prevent wages from falling to the market clearing level. Some economists believe that this type of unemployment can be reduced by increasing the flexibility of wages (abolishing minimum wages or employee protection) to make the labour market more like a financial market. This suggestion unfortunately, will lead to cumulationive exploitation on the part of employers most especially in developing countries. 2. 2. 5Seasonal Unemployment Bradley R. S. s of the view that some joblessness is virtually inevitable as long as we continue to grow crops, build houses, or go skiing at accepted seasons of the year. At the end of each season thousands of workers go searching for new jobs, thereby experiencing some seasonal worker unemployment in the process. Like in Nigeria, during the rain season, farmers are actively employed to plough sow, cult ivate and harvest-festival crops, this include both the aged and young. It is very common to see folksy-urban migrants, return to their awkward villages to cultivate during the raining season.And once harvest is over they return to towns to search for menial jobs to carter for their needs. 2. 3Causes of Unemployment in Nigeria The cost of unemployment in any nation cannot be overemphasized, below are some of the costs identified by eminent scholars individuals, economists, psychological, social socio-political. Economic Causes i)The Legacy of British Rule The bequest of some Nigerians who had high school education later on separatist and held job felt to be remunerated with high wages was a right.This made legal age of high school graduates at that time expressed their distaste for agriculture and their desires to be pen pushers these people were attracted to white collar jobs which were borrowed from the colonial master. This white collar jobs were unlike agriculture which pr ovides employment for about fourscore percent of the population. The colonial government fiscal policy with respect to employment also discouraged new entrants into agriculture which was the major alternate(a) for white collar job.Under the policy, marketing get on withs were introduced where farmers were heavily taxed by the colonial government. This made agriculture less appealing and killed the incentive that would have made people wish to take it upon as a carrier. Therefore, the mentality of white collar job was built into individuals Nigerian as a incoming employment. ii)The Oil Boom Era (1974-1980) Agriculture prior to the exportation of petrol had been the main asset of the economy but was neglected during the oil boom. All sorts of things were imported into the country.The government of the day embarked upon all sorts of white elephant projects e. g Ajaokuta Steel, building of Refinery, etc instead of investing in property with the windfall from oil. Over reliance on pet roleum has till today led to fluctuation in governments expenditures on unnecessary things and wastage of resource. The sudden slump in the international market for oil makes many projects undertaken especially construction come to deliver still. Many employment opportunities were forced to reduce their capabilities.Nigeria found itself in economic mess which it is still battling to salvage. iii)Consumption conformation This entails the pattern of function of Nigerians as a relationship to the problem of unemployment. It has contributed to the high level of urban unemployment because the consumption of urban centres entails imported goods which attracted more able people from rural areas to search for job in urban centres. This is due to the fact that Nigerians are to believe their home made goods are inferior.But the more the demand for goods and services from foreign source the more employment we make available to the nationals of those countries and the reverse is the case for Nigeria. Social Causes i)Rural-Urban Migration The combine of labour force from rural to urban area has been a major cause of Nigerias unemployment situation. As a result of the neglect of agriculture and great increase in government expenditure during the oil boom era led to the migration of many young people who would have otherwise stayed in the rural areas to practice agriculture as an occupation.Most migrants from rural areas were found to have only primary education with few having six years of secondary education. This led to surplus of unskilled workers and shortage of high level manpower. But now that Nigerias economy is producing more and more gradates from her institutions of higher education, in almost all the metropolitan cities the unemployment problem continues to increase. People unable to get job since urban areas became saturated and unable to absorb every skilled job seekers. plank 1Unemployment Rates, 2003-2007 (as at December) Description 2003 2004 2005 2006 2007 National (Composite) 14. 8 11. 8 11. 9 14. 6 10. 9 Urban 17. 1 11. 0 10. 1 10. 0 10. 0 Rural 13. 8 12. 1 12. 6 15. 1 12. 6 Source National Bureau of Statistics, 2007. From the table above the composite unemployment rate stood at 11. 9% in 2005 compared with 14. 6% in 2006, and 10. 9% in 2007. It also shows that the rural unemployment rate is higher, hence, the reason for migrating to the urban areas in search of greener pastures.Educational Factors The type of educational system inherited from the colonial get the hang put more emphasis on the production of gradates for white collars jobs at the expense of technical and vocational type. The result is that gradates do not only get unemployed but do not even find black collar jobs to manage. Government policy with respect to university admission for first degrees in party favor of the science as opposed to the arts does not still encourage students to study the science and other technological subjects, which Nigeria lacks.Ho wever, the involution in all educational level ranging from primary to tertiary institutions has contributed more to the unemployment problem. This is because the expansion does not correspond with the job provisioning for future graduates from the numerous schools. Political Causes i)Political Instability Ever since Nigeria got her freedom from the British colonial masters in 1960, there has been political instability. A major problem of post independent Nigeria has been conflicts of personalities in politics and unbridled political party rivalries both of which affected government policies in all parts of the country.Apart from the fact that the country had to go through a civil war form 1960 up till 1970. There has also been series of coups which have often resulted in abrupt changes in government up to date like that of June 12, 1993. This political environment which is unstable has negative effects on enthronement thereby creating problem of unemployment in the country. ii)M igrants from Neighbouring Countries People from neighbouring countries such as Ghana, Benin Republic, Ivory Coast and Togo move mess to Nigeria in search for jobs.They feel that the Nigeria economy is better and more promising. As a result of this the Nigerian Labour Market cannot absorb all the job seekers, since it has too many factors to contend with. Foreign job seekers especially those from the Economic Community of West Africa States (ECOWAS), those countries are often prepared to accept lower wages than Nigerians for the same type of work. And as employers are looking forward of cutting costs, they have no pickax but to absorb these foreign seekers. Socio-Political CausesThe political independence Nigeria got from Great Britain was more of a flag independence and not economic Independence. Nigeria even today remains subservient to the whims and caprices of countries like Britain and United States of America. Despite the effort made to gain total control of the economy throu gh the promulgation of the indigenization decree of 1977, Nigerias economy is still dominated by multinational corporations that employ a substantial number of Nigerians, thus, the fact remains that the profit is fleeing Nigeria to foreign countries head quarters.The profit flight is supposed to be ploughed back into the country for provision of more jobs and development. Furthermore, external participation in the domestic activities of Nigeria by foreigners which is not reciprocated by connatural Nigerian participation in their own domestic affairs militate against development efforts. All these vague down the economic growth and cause unemployment problem. Ethnicity Problem Nigeria is made up of many ethnic groups. to each one of this ethnic group had the fear that another group may dominate it.Apart from this, some ethnic groups which tend to be closer to neighbouring countries identify more with the than with other ethnic groups in the country that they are not familiar with. It is a fact that some northern States in Nigeria prefer to recruit Pakistani, Egyptians, and Indian professionals other than Nigerians from other ethnic group. Such discriminatory policies no doubt cause more unemployment in the country. 2. 4Theoretical framework Various scholars have propounded theories relating to employment and unemployment.These include those of the Classical view who believe that full employment was a normal situation and any deviation from this was regarded as abnormal. Okuns law which was propounded by an American Economist named Arthur Okun (1926-1980) who looked at the US GNP during the 1950s and 1960s. Thus, for the purpose of this work the KEYNESIAN THEORY was adopted. It was propounded by hind end Maynard Keynes, a British Economist whose ideas have profoundly affected the theory and practice of modern macro economics, social liberalism and economic policies of government. 2. 3. 1TheKeynesian Theory In the Keynesian theory which was propounded in 193 6, Keynes argued that aggregate demand placed the overall level of economic activity, and that inadequate aggregate demand could lead to protract periods of high unemployment. He opined that if aggregate demand is not high enough to sustain full employment level of economy, then a gap is created between aggregate demand and aggregate supply known as the deflationary gap. To him this gap must be closed through concerted government programmes if not, the situation could degenerate into degenerative unemployment.The Keynesian prescription for reducing unemployment includes the chase 1) Increase in aggregate total demand through direct increase in government expenditure 2) By government policies that indirectly encourage more private investments (e. g. investment subsidies, tax allowances, low investment rates on business loans, establishing of institutions, etc). 2. 3. 2Its Application to this Study Looking at its applicability to this work, the Keynesian theory States that inadequ ate aggregate demand could lead to prolonged periods of high unemployment.It is no long-lasting news in Nigeria that the demand for labour is on the decrease, as industries (e. g. textile) which hitherto where major employers of labour have been closed down due to unfavourable working conditions such as poor electricity supply, financial institutions have been hit by global recessions and the public sector have also resorted to downsizing thus making aggregate demand grossly inadequate thereby leading to a high rate of unemployment. Nigerian unemployment is a typical case of shortage in aggregate demand the supply by far supersedes the demand.With thousands of graduates leaving the higher institutions each year, the demand for time in the labour market depreciates. To Keynes, if aggregate demand is not high enough to sustain full employment level of the economy, then a gap is created between aggregate demand and aggregate supply known as the deflationary gap. This gap manifests its elf in chronic unemployment which is been witnessed in Nigeria, with an unemployment rate of 19. 7% as at December, 2009. He further propounded that this gap must be closed through concerted government programmes so as to avoid unemployment.From the foregoing it is evident that the Keynesian theory of unemployment not only explains the unemployment problem but has proffered solutions or ways of eradicating it. An Overview of the National Directorate of Employment 3. 1Introduction The worldwide economic depression of the early 80s caused a rapid deterioration in Nigerians economy. Industrial output shrank to an all time low and commercial activities were consequently reduced, leading to the loss of employment opportunity for many Nigerians.By the end of 1985 the unemployment situations in Nigeria had reached dreaded and alarming proportions (about 8. 5%). In the urban areas, where the educated tend to congregate, the unemployment rate was especially high. In the rural areas, it was no less severe. Graduate unemployment, which hitherto was unnoticed, emerged and was growing rapidly. The effect of such large-scale unemployment spelt possibility for both the society and individual victims. Deviant behaviours expressed in crimes and other anti-social behaviours were frequent among the frustrated youths.The increase in crime rates and riots further created an atmosphere of general insecurity. Unemployed youths were easily susceptible to such manipulations and incitement by unscrupulous elements in the society or even politicians. It is in line with this that prexy Babangida appointed a committee on 26 March 1986 to deliberate on strategies for dealing with muss unemployment under the auspices of the Federal Ministry of Employment, Labour and Productivity. The report of the Chukwuma committee, as it became popularly known, was approved by the Federal Government in October 1986.Based on its recommendations the National Directorate of Employment (NDE) was establish ed on November 22, 1986 and its initial core programmes were formally launched on 30th January 1987. The president in his 1987 budget speech directed the new body to concentrate its effort on the reactivation of public works, promotion of direct labour, promotion of self-employment, organisation of artisans into co-operatives, and encouragement of a culture of maintenance and repairs.To ensure effective implementation of the Presidents directive, a board of Directors representing a cross section of all interest groups from industry, commerce, agriculture, finance, employers, labour and government was set-up to define policy and supervise operations. This board articulated four (4) practical programmes nationwide, each operating as a separate department. They include a) National youth Employment and Vocational Skills Development Programme. b) Small scale industries and graduate employment programme. c) Agriculture sector employment programme d) Special public works programmes.These p rogrammes were backed by the necessary administrative, monitoring and support personnel, thus enabling optimum use of resources and prompt response to the requirement of the public. 3. 2Objectives of the National Directorate of Employment The objectives of the NDE were clearly Stated in decree No. 24 of 1989 i. e. NDE Decree (1989) section 2 of the Decree provides for the objectives of the directorate. Thus, the NDE mandate is as follows i) To design and implement programmes to combat mass unemployment. ii) To articulate policies aimed at developing programmes with labour intensive potentials. ii) To obtain and maintain a data bank of employment and vacancies in the country with a view to acting as a clearing house to link job seekers with vacancies. iv) To implement any other policies as may be laid down from time to time by the Board established under section 3 of its enabling act. NDEs main function is to combat mass unemployment through skills acquisition, self-employment and l abour-intensive work scheme. 4. 1Summary of discussions and findings It is no longer news that compensated jobs can no longer cater for the teaming graduates turned into the labour market from various higher institutions in Nigeria.This has led to the search of selection means of lively hood. One of such is the acquisition of specific skills to make graduates self-employed. It is against this backdrop that the hypothesis which States, That skills acquisition is a prerequisite to a reduction in graduate unemployment in Kaduna State was formed. In order to ascertain the hypothesis above, respondents were asked questions bordering on their level of acquisition vis-a-vis unemployment. The questions were answered by checking one position on two point scale of Yes and No. 4. 1. 1SkillsAcquired apart from Western Education Here respondents were asked if they have acquired any skill apart from the regularly western education. The responses gotten are shown in table 4. 1 below Table 4. 1 A cquisition of Special Skills apart from Western Education Response No. of Respondents division Yes 86 59. 7 No 58 40. 3 Total revenue 100 Source police detectives Survey, 2010. The table above indicates that 86 respondents representing 59. 7% have acquired specific skills other than the western education while 58 respondents which represent 40. 3% have not.This shows that specific skills acquisition is not alien to graduates in Kaduna State. 4. 1. 2Self Employment The respondents were further asked if they were presently self-employed. The following were the responses gotten Table 4. 2 Self Employment Response No. of Respondents Percentage Yes 55 38. 2 No 89 61. 8 Total 144 100 Source Researchers Survey, 2010. Table 4. 13 depicts that 38. 2% of the respondents are self employed while 61. 8% are not. This shows that some respondents are utilizing the skills they have acquired. 4. 1. 3Nature of Self EmploymentThe respondents who claimed to be self-employed were asked to specify the nature of their self-employment and the following responses were gotten. i) bearing designing ii) Farming iii) Electrical works iv) Wood work/carpentry v) Mechanized farming vi) timber trading 4. 1. 4Acquisition of Specific Skills by Graduates in Kaduna State Many people agree that depending fixly on salaried jobs is not the best. Thus, people should learn to acquire alternative sources of income. Hence, the respondents were asked Do you think that most graduates in Kaduna State have acquired necessary skills to make them self employed?Their responses are given below. Table 4. 3 Acquisition of Special Skills by Graduates in Kaduna State Response No. of Respondents Percentage Yes 36 25 No 108 75 Total 144 100 Source Researchers Survey, 2010. The table above shows that 36 respondents signifying 25% agreed that graduates in Kaduna State posses the necessary skill of being self employed while 108 respondents representing 75% were of the contrary view. , this shows that most gr adates in Kaduna State have not acquired necessary condition skills to be self employed. 4. 1. 5Self Employment an preference to Salaried JobThe respondents were further asked if they agreed that self-employed in an alternative to salaried jobs. The following responses in table 4. 15 below were gotten. Table 4. 4 Employment an Alternative to salaried Jobs Response No. of Respondents Percentage Yes 136 94. 4 No 8 5. 6 Total 144 100 Source Researchers Survey, 2010. The table above indicates that 94. 4% of the respondents agreed that self-employment is an alternative to salaried jobs while 5. 6% do not agree that it is an alternative. Based on the responses gotten, it clearly shows that most people take self-employment as an alternative to salaried jobs. . 1. 6Skills Acquisition Schemes Established by the Government and Self Employment In a bid to make people become self-employed, government has put in place various schemes among which is the NDE. Thus, respondents were asked if th e skills acquisition schemes put in place by the government have helped beneficiaries to become self-employed. The following were the responses gotten Table 4. 5 Skills Acquisition Schemes and Self Employment. Response No. of Respondents Percentage Yes 120 83. 3 No 24 16. 7 Total 144 100 Source Researchers Survey, 2010. From table 4. 16 above, 120 respondents representing 83. % agreed that the skills acquisition schemes put in place by government have helped beneficiaries to become self-employed while 24 respondents representing 16. 7% disagreed. 4. 1. 7 inclusion body of Specific Skills Acquisition Programme in Post-Secondary School plan With regards to specific skills acquisition, respondents were asked if skills acquisition programmes be included in Post-secondary schools political program and the following responses were gotten Table 4. 6 Inclusion of specific skills acquisition programmes in post-secondary school curriculum Response No. of Respondents Percentage Yes 140 97 . 2 No 4 2. 8Total 144 100 Source Researchers Survey, 2010. For table 4. 17 above, 140 respondents representing 97. 2% opined that specific skills acquisition programmes should be included in all post-secondary schools curriculum while 4 respondents representing 2. 8% held a contrary opinion. 4. 1. 8 Opinions about Skills Acquisition Schemes in Nigeria Respondents were asked to state their opinion on the skills acquisition schemes put in place by government and the following opinions/views were gotten i) That the skills acquisition schemes have helped reduced unemployment not only in Kaduna State but in the country as a whole ii)That loan should be made available to the unemployed so that they can implement both funds and skills together iii) That skills acquisitions schemes should be fully implemented so that its aims and objectives can be accomplished iv) That skills acquisition scheme should be well funded v) It was also expressed that the skills acquisition schemes in Nigeria is too small compared to the population of the unemployed, thereby making it insignificant vi) That, the skills acquisition schemes are sub-standard and need to be modify so that it can compete with those in other nations vii) That skills acquisition helps graduate to become self employed viii) That for skills acquisitions to succeed an adequate system that ensures the monitoring and evaluation of the scheme must be put in place ix) That the skills acquisition schemes have been bedeviled by poor management plan, indiscipline and corruption x) That the culture of skill acquisition should be inculcated into the citizens right form primary schools Finally, that there should be more awareness and financing of the schemes available The table below shows a summary of the questions asked and responses gotten. 4. 2Test of Hypothesis using the Average Mean strike off Method. The comely mean score was used to test the Hypothesis which States That inadequate skills acquisition has led to a n increase in graduate unemployment in Kaduna State. Formular X = ? p x where X=Average mean score ?p=Summation of percentages x=Total number of variablesDecision Rule Accept Ho if average means score is 60% and above, reject Ho if average means score is less than 60%. Variables 1) Acquisition of specific skills other than western education 2) Self employment 3) Acquisition of specific skills by graduates in Kaduna State. 4) Self employment and alternative to salaried jobs 5) Skills acquisition schemes and self-employment 6) Skills acquisition and post secondary curriculum Table 4. 7 Highest Responses Variables Responses 1 59. 7% of the respondents opined that they have acquired specific skills other than western education. 2 61. 8% of the respondents said they were not self employed. 3 70% of the respondents were of the view that most graduates in Kaduna State have not acquired specific skills. 4 94. 4% of the respondents agreed that self-employment is an alternative to salarie d jobs. 5 83. 3% of the respondents agree that skills acquisition schemes have made their beneficiaries self employed. 6 97. 2% of the respondents agreed that specific skills acquisition programmes should be included in post-secondary school curriculum. Source Researchers Survey, 2010. No. of Variables Percentages 159. 7 261. 8 375 494. 4 583. 3 697. 2 Total 6471. 4 ?p=471. 4= 78. 6% x 6 X = 78. 6% From the above calculation the average mean score of the Hypothesis is 78. 6%.Going by the close rule which States that Accept Ho if average mean score is 60% and above, our Ho which States that inadequate skills acquisition has led to an increase in graduate unemployment in Kaduna State is Accepted. This implies that adequate skills acquisition will lead to a decrease in graduate unemployment in Kaduna State. 4. 3Major Findings It was discovered that Skills Acquisition is an effective tool in the reduction of graduate unemployment in Kaduna State. The researcher found out that most u nemployed graduates in Kaduna State will opt for self-employment through the acquisition of specific skills, rather than wait for the non-existent salaried jobs. The researcher found out that skill acquisition schemes when effectively implemented will go a long way to reducing graduate unemployment not just in Kaduna State but in Nigeria as a whole.It was also discovered that skills acquisition gives birth to small scale enterprise which in turn supercharge individual and national economy. As in the case of developed nations like China, Japan and even USA who started from small scale enterprises and they are world powers today. Thus, the importance of skills acquisition in unemployment reduction and by computer address poverty reduction cannot be over-emphasized. 5. 1Conclusions and Recommendations As established by the study, the importance of skills acquisition cannot be overemphasized. Thus, it is recommended that learning of specific skills should be inculcated into the curric ulum of the post-secondary schools of not just Kaduna State but Nigeria as a whole irrespective of the course of study.In developed countries like the USA courses are courses such as fashion designing, motorcar repairs, traffic control, animal husbandry, typesetting, catering, horticulture, swimming, memo writing, satellite installation, wood work and even cooking are included in formal school curriculum. Such compulsory electives should be imbibed in the nation thereby creating the spirit of entrepreneurship. There should be a diversification in the activities of the National Directorate of Employment. New challenging and mod skills should be introduced from time to time. This will make it more enticing appealing for gradates to enrol, as young people like to explore new grounds. Also, specific organisation or institution should be established with the sole aim of tackling graduate unemployment.Since unemployment cuts across various barriers (gender, class, age) and the National Directorate of Employment which is saddled with combating unemployment cannot effectively manage graduate unemployment as its resources (time, finance) are divided among other classes. Thus, giving more attention to graduate unemployment by establishing a body with the mandate of combating graduate unemployment will go a long way. References Bradley R. Schiller (2004) The macro instruction saving Today 9th ed New Delhi McGraw Hill Irwin Companies. D. Rudiger et al (2004) Macro Economics New Delhi Tata McGraw-Hill Publishing Co. Ltd. David C. Colonader (2001) Macro Economics 4th ed. New York McGraw-Hill Irwin.Euro-Zone Unemployment Climbs to 10 percent High Deutsche Welle. January 29, 2010. F. Onosode (1993) The Decades of Development Crises in Nigeria Essays. Ikeja Malthouse Press Ltd. F. A. Hayek, The reputation of Libertywww. google. com G. Umoden (1992) The Babangida Year Ikoyi-Lagos Gabumo Publishing Company ltd. http//atext. aplia. com/controller/apliatext. aspx Internation al Labour Organisation Resolution concerning statistics of the economically active population, employment, unemployment and underemployment, adopted by the thirteenth International conclave of Labour Statisticians (Oct. 1982) pg. 4. Jhingan M. L. (2004) Principles of Economics. 2nd ed. India Vrinda Publication Ltd.National Bureau of Statistics, Core Welfare Indicator Questionnaire Newswise, Retrieved on October 27, 2008. National Directorate of Employment (2006) Brochure. Kaduna State Office. Richard A. (2007) Fact carpenters plane on the Impact of Unemployment (PDF) Virginia Teach, Department of Economics USA. Robert F. e al (2001) Principles of Economics India McGraw-Hill Publishers S. Dudley (1969) The Meaning of Development. Eleventh Conference of the Society for International Development, New Delhi India. Wikipedia Encyclopaedia. www. econlog. econlib. org/archieves/2009 www. google. com www. uo. org/public. /english/bureau/stat/dpownload/ res/ecacpop. pdf

Leadership, Communications, and Teams Assignment - 1

Leadership, Communications, and Teams - Assignment exampleAs part of the internal conversation methods, Wells Fargo enhances the relationship and understanding between supervisors and the employees through diverse practices such as encouraging the performance of the staffing roles by the managers too (Wells Fargo, 2014). This way, the managers have to consider their responsibilities and role in the employee development as the basis of leading and understanding them. However, culture and language are all indwelling factors of literacy in fact, failure to establish them on varying levels dearly affects literacy.Wells Fargo has a unique get on towards teamwork and organizational culture through their extensively efficient makeal structure. Even though this structure advocates for separation relative to roles and capabilities, the company has substantial linkages that facilitate vast communication between the employees. The idea of employees from sales on the job(p) together with colleagues from sales acts as a culture, which simultaneously enhances communication and teamwork (Wells Fargo, 2014). Under the model of team strong suit described by Daft, this approach is rational as the organizations focus on function goals facilitates high performance and efficient management. Additionally, the management at Wells Fargo has geared up to recognize the grandeur of good conduct in its regular business practices and has initiated policies to assure that the organization conducts and manages its business in an ethical manner.The main challenge at Wells Fargo is the lack of specification and organization in the application of communication methods. Nonetheless, the companys communication plan should exploit the written communications method more entailing the dispersal of printed pamphlets, monthly symposiums, aboveboard brochures, reports, discourses and online content moreover, there will be a calendar developed to determine the different events and steps

Analysis paper Movie Review Example | Topics and Well Written Essays - 1500 words

psychoanalysis paper - Movie Review ExampleThere are akin(predicate)ities in Youngdals story and what happened amid him and Baek-hwa, but there are also differences in how Youngdal and Chung found White Flower, what happened during the journey to the train station, and the ending. As for the visual aspects, the story and the film focused on the milieu and how it reflects the diverse forms of attachment and detachment of the third main characters, but the film underlines more the development of friendship and love in its narrative through dialogue and sound. There are similarities in what happened to Youngdal in the story and the film. Both show that he is caught having an topic with a restaurant owners wife and so he runs away. Youngdal is also suffering from the nomad complex in the text and film. He has a hard time mustering that special something that can make him permanently appease in one place. It could be because of lack of economic opportunities though, which the sto ry explores more than the film. In the story, Youngdal shares with Chung how he separates with Okja, because he lost his job and Okja needs to work in another place. They promised to be together again, but they get laid that they are young and poor. Love is not enough to fill hungry stomachs. Furthermore, the story illustrates the detachment or sense of loss that workers feel, because of Koreas rapid industrialization. In an article, Kwon Yong-min says The Road to Sampo sketches Korea in the 1970s well, showing its rapid urbanization and relentless industrialization. It symbolic all(prenominal)y shows the sense of loss that the uprooted laborers experienced (Park 90). This sense of loss pervades in all three characters. They may not be wandering aimlessly together, but they share sentiments of uncertainty in their lives. Furthermore, there are differences in how Youngdal and Chung meet Baek-hwa in the story and film. In the film, they meet her at a restaurant in town. In the story , Youngdal and Chung meet her under a pine tree, while she is urinating. It seems that this scene was changed to bend sexual connotations. Moreover, in the story, Youngdal and Chung did not change their course only to search for Baek-hwa. They are only top dog to her direction by chance, because they are trying to catch a train to Gamchun, so that they can treat a faster route to Sampo. In the film, they seek out Baek-hwa for the money. The motives are different, but they eventually find Baek-hwa in the story too through coincidence. Furthermore, in the story, Baek-hwa talks a great deal as they walk in the snow. In the film, she and Youngdal converse with each other. Despite not speaking so a good deal in the story, Youngdal and Baek-hwa bonded well, because he had to carry her on his back after Baek-hwa sprained her ankle when she fell in a ditch. The physical actions replace the need for conversation. They do not have to speak to understand that they are similar in many ways, for they are both cold and lonely. In the film, there is much dialogue in the midst of Youngdal and Baek-hwa. It seems that they are dating. Dialogue and music play a large role in developing their quixotic feelings. Both the film and story employ the environment to describe the characters and their experiences of attachment and detachment. The story often describes the environment in relation to characterization and plot development. For instance, after

Summary Module 4 Essay Example | Topics and Well Written Essays - 500 words

Summary Module 4 - rise ExampleIn particular, the council rejected the idea that the newborn children should not be baptized because they have no sin. The Council defended the idea that the fall of Adam and Eve led to the fact that even newborn children are sinful because they belong to the human race. For this reason, the baptism of children is considered as a mandatory procedure, which allows the child to cleanse the soul from sin. Overall, the emphasis was set(p) on the idea that man is a sinful creature and the one who denies this idea cannot be considered a Christian. Even the righteous person living in compliance with theologys commandments must realize that only God has no sin.In turn, in the chapter entitled Of Predestination (the book Summa Theologiae), Thomas Aquinas considers predestination. By analyzing the different arguments on this issue, the theologian comes to several conclusions that are extremely important in the framework of the Christian