Publisher's Synopsis
Natural rate of unemploymentEconomists believe why natural rate of unemployment will occur in any countries. They indicate that during economy condition keeps at the balance situation ( condition), anyway any country government adopts any policy. However, the natural rate of unemployment won't reach to zero level as well as there are some people will still unemployed or it is possible that some people will be alternative employment between any time. Hence, it means that although US and UK is an developed country. It can not guarantee there are not any people unemployed, so the natural rate of unemployment will not reach to zero level.So, it seems that US and UK current economy condition had kept at the balance situation ( condition). Thus, even future science, technology, engineering and mathematics workers will drive US innovation and competitiveness by new ideas, new companies and new industries in US. However, US and UK employers frequently concern the supply and availability of this kind of workers. Over the past 10 years, growth in this kind of jobs was three times as fast as growth to general jobs in US. In the future the Natural rate of unemployment of US and UK science, technology, engineering and mathematics worker number must not reach zero level.Anyway, in the future, the perspective of bio-medical industry will be an alternative growth scenario. So, US and UK government will need to modest improvements in key policy areas to adopt bio-medical industry needs, e.g. more favorable coverage and payment policies for medical innovation, improvements in regulatory policy to create efficiencies in research and development process and improvements in policy to incentive R & D ( research and development) create efficiencies in the R & D process.As an industry rooted in science and advanced manufacturing, the innovation bio-medical industry is uniquely position to help maintain US leadership in new technologies and scientific to continue to create high quality, high wage R&D and manufacturing jobs and enhance America's global competitiveness in the future. In the future the Natural rate of unemployment of US and UK of bio-medical industry worker number must not reach zero level. Thus, if future US had enough job number which could supply to these high technological and bio medical industries of labors to do. However, the natural rate of unemployment must not reach at zero level and it does not represent its economy is poor because one developed country, such as US had been experiencing economy condition keeps at the balance situation( condition), so it's natural rate of unemployment must not reach zero level . Otherwise, the developing countries' economy condition does not keep at the balance situation ( condition), so their natural rate of unemployment have more possible to reach to close zero level.Industrial production and pollution economyEconomists indicate that it has close relationship between industrial production and pollution. When traditional products are manufactured, the air and water pollution will be caused in the economic activity. So, human needs to protect environment to keep health, the demand of investment of money reduces pollution and labor number will increase to achieve to reduce air and water pollution in natural environment. Thus, product manufacturers need to analyze which economic stage(s) will encounter shortage and find methods to solve challenge.
