Economics Essays - Unemployment, News Media, Mass Media, Economy

Economics Essays - Unemployment, News Media, Mass Media, Economy Economics Discussion Board 1The recession of 2007-2009 has impacted many industries, but few have been hit as hard as the newspaper industry. From a loss of subscribers to a loss in advertising revenue, print newspapers are experiencing economic change unlike any other time in history. Last year, Denver?s Rocky Mountain News stopped publishing in February, the Seattle Post-Intelligencer ceased printing their publication and converted to an online-only format in March (and in the process, laid off 145 of their 165 employees), McClatchy Co., owner of the Miami Herald, announced in March it was cutting 1,600 jobs and reduce wages throughout the company, and even the venerable New York Times made a deal to sell its share of its headquarters and lease it back, raising a much needed $225 million in the process. These are just a few of the many examples of hard times in this industry. Why do you think the newspaper industry has been hit so hard? What sources do you use to get news? Why? Do you subscribe to a local paper, and if so, do you receive a print copy or receive it electronically How have changes in the news industry affected unemployment? Discuss how changes in this industry have resulted in not only cyclical unemployment, but also frictional and structural unemployment. Statistically 168 million adults read a newspaper in print or online in the past 7 days and 112 million adults read a printed newspaper on Sunday mornings. But in today's society as young teens and kids get older, they do not have the habit or the desire to read the newspaper. In the recent years, the popularity of the world wide web has increased and any sort of information has been made computer friendly. 57% of consumers use newspaper websites for local online information and 75 million visitors have been to a newspaper website in the last month. Personally speaking, i would prefer to use and read the news online from my laptop. It is just simply quicker and easier to use. Most websites whether it be msn news, yahoo new, or google news can all be found just a click away. Not only are different newspapers only a click away but also they are free. A well experienced web user can find most information for free online. Because of this i do not and would not subscribe to a local paper. Newspaper websites are number 1 in 22 of the top 25 markets. As the online industry continues to rise, the news industry begins to fall and unemployment rate also increases due to the decrease in demand for workers for newspaper printing. Not only is it cyclical unemployment but also frictional unemployment because as the industry falls, newspaper workers will have a need to search for a new job which pays more in order to support him/herself. This is also structural unemployment because when searching for a new job, different skills are requir ed, and in the newspaper industry your skills are limited and so finding a new job may be quite impossible.