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While the economic definition of 'scarcity' may seem obscure to this particular scenario, on closer inspection we find that the definition of 'unlimited needs/wants but limited resources' can indeed be applied to the scarcity of jobs as a result of the recession. The 'want' in this case is labour seeking employment and the limited resource is the relative liquidity of business. While this article is generally about foreclosure and its effect on the economy, I feel it demonstrates a highly relevant application of economic scarcity in the current environment.

I totally agree with you and the website. Jobs are also a scarcity problem. Because resources cannot be limited (some maybe not), but jobs is definitively limited, due to the fact, there are not enough jobs for everyone. Day by day, people are suffering more to find jobs, due to the amount of people trying to get them. Popularity in the world is increasing greatly, jobs is not so much; therefore, jobs is a scarce "good".

Jobs are the main scarcity problem in my country and I think it's a huge problem for the world too. Like resources, there are limited amount of jobs for the people and sometimes adults stay jobless. As the world's population increases, number of unemplyed people increases too. When there was an economic crisis in the world, many poeple were fired from their jobs.

America has done a better job keeping GDP up than almost any other developed nation affected by the Great Recession. But it's done a far worse job keeping unemployment down. Why? America has a very weak labor union movement. An underconsumption of labor union movements here engenders market failure. This article discusses this idea in further detail.

This article discusses how a flexible labor market model can only lead to less permanent-job contracts, lower wages, and even lead to eventual unemployment. For example, the share of employees with temporary contracts is much higher in the EU than in Romania, however, it has been noted that the EU has higher unemployment rates than Romania... Further consequences of the implementation of a flexible labor market model are also evaluated. Link to "What is a Flexible Labour Market?": http://tutor2u.net/economics/revision-notes/a2-macro-flexible-labour-markets.html

"The chain of logic for supply-side policies to work requires the following. Lower tax rates on savings (or on those who save more) leads to higher saving rates. Higher saving leads to more economic investments and greater capital accumulation. Finally, more capital leads to greater economic growth. At each of these steps, however, there is reason to doubt the theory-there are other possible outcomes and conflicting theories. Rep. Ryan's plan is supply-side economics on steroids. His budget for fiscal year 2012 beginning in October would curtail spending, end Medicare as we know it, and reduce taxes on the wealthy while keeping overall tax revenue constant. This can only mean taxes will go up on the "nonwealthy." Ryan boasts that all this pain will be for good. And he is backed by the Heritage Foundation, which predicts-among other fantastical claims-that his budget will add an estimated additional 1 million jobs in 2012. Those 1 million jobs, however, are fictional."

This article discusses how the labor market in Germany has improved over the past year, especially recently in January and February 2011. Unemployment has declined sharply by over 75,000!

The labor market in Germany has improved and unemployment declined thanks to the country's solid economic upswing.

This article discusses how Germany's labor market improved sharply in February and unemployment declined by much more than expected, owing to the country's solid economic upswing and increase in aggregate demand for jobs in the country. And demand for employees continues to increase...

Good article to talk about unemployment. Not only does it talk about the unemployment rates in the last few months in the US but it also talks about which job sectors are hiring (a good example of structural unemployment/employment)

The Recovery Act of 2009 gave 787 billion dollars for economic stimulus, this action by the government is a prime example of Keynesian economic theory as the government is bolstering economic growth and development while simultaneously reducing unemployment. It is recorded that 1.5 million private sector jobs have been saved and there has been six straight quarters of economic growth.

The Obama administration wants to complete free trade agreements with south korea, columbia and panama. They hope to create more jobs that were initially lost by foreign competition. The trade agreements will reduce the price of American products and therefore will increase the sales of these american goods. Obama said: "These agreements will support tens of thousands of jobs across the country for workers making products stamped with three proud words: Made in America,"

The article raises an interesting point regarding the use of public good expenditure as a stimulant for the economy and job creation - thus creating an overall positive benefit for society. It also discusses expenditure conflicts between provision of different types of infrastructure e.g. roads or highways as transportation infrastructure. Ultimately, it states that the US should spend more on public goods oriented around job creation to benefit the economy.

South Africa has been, for quite a while now, experiencing significant market failure caused by state-owned enterprises (SOEs) falling over their feet to emulate private sector models (at the same time suffering from maladministration, waste, subversion of corporate governance, power struggles and managers caring more for their glamorous images and fringe benefits than service to community). The pressure for SOEs to be genuine development agents hardly came to be, as efforts in this direction were never really enforced. The New Growth Plan (NGP) implicitly and explicitly acknowledges these failures and is in haste to fill the gap by seeking to drive growth in jobs via the creation of new sectors as well as lifting the energy of old, sluggish and declining sectors and industries. It's a race against time. More about this NGP is discussed in the article.

People are dropping out of their jobs at a higher rate than ever, even though hiring has bounced back a bit. Unemployment rate is up to 8.9%. The recession has driven younger people out of the job market and back into school. People over 55 are going back to work because their savings were depleted due to the recession. -Michael

The UK started reducing government expenditure, easing its fiscal policy to compensate for debt: There are a couple of notable points raised by the BRC in the Outlook: one is their view of economic growth and the other is the number of job losses caused by the Chancellor of the Exchequer, George Osborne's public spending cuts. The BRC state that they believe the UK economy will continue to recover but at a slower pace than after the recessions of the 1970s, 80s and 90s. They put this "sluggish outlook" down to "the gradual normalisation of credit conditions, efforts to reduce private sector indebtedness and the impact of the Government's fiscal consolidation."

This article is about Nebraska. This state lost 27000 employees during the 2007-2009 recession and it is continuing its recovery even today. As economist Ernie Goss says, Nebraska has restored 45% of those lost jobs over last year.

This article talks about how unemployment has been raising during the recession but now the recovery situation is contributing to the creation of new jobs.

This article discusses the recent decline in unemployment in the US. The US has had decreased unemployment each month over the past 3 months, and this is with the terrible snowstorms in January. This is a very good sign that the recession is truly coming to an end.

This article talks about how a keynesian approach to an economic matter may be radically opposed to the point of view of a classicist; concretely about the japanese crisis, consequence of the earthquake and tsunami of the past month

This is an article by the New York Times addressing the issue of gender equality in the job market. Married women who have children must take time off work and the employment business is harsh in terms of promotion and pay when it comes to taking time off work - naturally women are disadvantaged in our society today. The articles dives in to explore the situation.