Macroeconomics and the Newspaper Industry - Assignment Example

Macroeconomics and the Newspaper Industry Why do you think the newspaper industry has been hit so hard? The newspaper industry has been hit so hard because ever since news and other relevant information could be accessed electronically, people’s reliance on print medium, particularly on the newspaper, for news and current events had significantly declined.What sources do you use to get news? Why? People get news from diverse sources including online sites and from the television; which are deemed more updated than the news printed in newspapers.

News from printed medium are usually events that happened a day before and the printing time causes delay in updates. In contrast, those news events delivered through television programs and online sites are more updated and therefore regarded most useful.Do you subscribe to a local paper, and if so, do you receive a print copy or receive it electronically? One does not subscribe anymore to a local paper due to the abovementioned reasons. However, previously, subscriptions were made so that a print copy is regularly received.

When online sites started providing more accurate and updated news reports, subscription for printed newspaper was stopped. How have changes in the news industry affected unemployment? Changes in the news industry have affected the status of people being employed in the sector. As more news organizations and corporations close and stopped operations, necessarily, people who were previously employed with them lose their jobs (Ovide; Li).Discuss how changes in this industry have resulted in not only cyclical unemployment, but also frictional and structural unemployment.

The changes in the industry exemplified cyclical, frictional and structural unemployment since the effect of factors in the external environment (slowdown of economic growth, recession (cyclical); people changing jobs (as a result of being laid-off from print organizations (frictional; and technological reliance on the internet for news causing significant decline in the demand for print copies of the newspaper (structural)) are interrelated and are contributory to the loss of jobs of people previously employed by newspaper organizations.

Works CitedLi, Kenneth. "End of an Era for Hearst’s Seattle Paper." Financial Times 17 March 2009: 1. Web.18 June 2012. Ovide, Shira. "Seattle Paper Advances Plans to Turn Into Online-Only Publication." The Wall Street Journal 9 March 2009: 1.Web. 18 June 2012.