Unemployment | 49

Summary

Down to Business English – Episode 49: Unemployment

Release Date: January 20, 2012
Hosts: Skip Montreux (Tokyo, Japan) & Des Morgan (Abu Dhabi, UAE)

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Episode Overview

This episode, hosted by Skip Montreux and Des Morgan, takes an incisive look at global unemployment concerns at the start of 2012. Using recent survey data, personal perspectives, and news analysis, the hosts investigate where unemployment is most problematic, who is most affected, and discuss economic trends across various countries. The episode is tailored for listeners aiming to boost their business English, rounded out with a targeted vocabulary segment relevant to the discussion.

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Main Discussion Points & Insights

1. Global Fears and Trends in Unemployment

• Inflation, Corruption, and Joblessness

  • Des opens by referencing a BBC survey spanning 23 countries, revealing unemployment as a rapidly growing concern since 2009.
    • "Unemployment was the fastest growing worry with 18% of people saying they worried about it, compared to only 3% when the survey started in 2009." – Des (01:27)

• Top Global Worries (01:11–01:27)

  • 1. Corruption
  • 2. Poverty
  • 3. Unemployment (tied with rising costs/inflation)

• Economic Pressure and Societal Risk

  • The surge in unemployment concern is linked by the hosts to unstable global economies post-2008 financial crisis. Des admits personal unease:
    • “Being unemployed again is certainly something that worries me.” – Des (01:43)

2. Country-Specific Unemployment Snapshots

Spain – At the Heart of Europe’s Crisis (02:13–02:40)

• Major Highlights:
  • 54% of Spanish respondents in the survey are concerned about jobs.
  • Youth unemployment is alarmingly high:
    • “Would you believe the figure of 40% for those under 25?” – Des (02:31)
    • “I didn’t realize it was that bad, but yes, I can believe that figure.” – Skip (02:35)

Other High-Unemployment Countries (02:40–03:15)

• Ghana, Nigeria, Mexico, and Turkey are also highlighted as areas of concern.
• Turkey experienced a spike in unemployment:
  • "Unemployment spiked by almost a third in 2009 to just over 14%, recovering a little in 2010... still higher than any other year in the past 30." – Des (02:57)

United Kingdom – A Grim Outlook (03:15–04:05)

• Statistics & Government Data:

  • Official unemployment rate: 8.3% (03:23)
    • “And that is the manipulated figure published by the government. It’s anybody’s guess what the real figure must be.” – Des (03:23)
  • Youth unemployment: Over 20% nationally, higher in depressed regions (03:52)
  • Riots linked partly to high unemployment

• Job Market Analysis

  • Most contested sectors: Retail, secretarial, and service jobs, with as many as 60 applicants for a single position in London (05:10–05:42).
  • Technical fields like engineering, aerospace, and oil & gas are hiring but require specialized skills (05:44–05:57).
    • “Anyone starting university would probably be better advised to take a geology class rather than drama.” – Skip (05:57)

Japan – Comparatively Stable but Not Immune (04:05–04:38)

• Published Rate: Overall 4.9%; youth unemployment 10.9% (04:05)
• Systemic Notes:
  • “Japanese companies prefer to hire new employees as they graduate from university, which means that any young person graduating into difficult economic times will find it increasingly difficult to find a full time position as time goes by.” – Skip (04:38)

United States – Signs of Recovery (06:04–06:37)

• Recent Improvements:
  • “US unemployment fell to a 2 1/2 year low last November according to the Department of Labor.” – Skip (06:11)
  • Upward trends in manufacturing and consumer confidence point toward 2–2.5% economic growth for 2012.

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Engaging Quotes & Memorable Moments

• On government statistics:

  • “It’s anybody’s guess what the real figure must be.” – Des (03:23)
  • “Like all governments, the Japanese try to under report unemployment…” – Skip (04:21)

• Career advice for students:

  • “Anyone starting university would probably be better advised to take a geology class rather than drama.” – Skip (05:57)
  • “That would seem to be the case.” – Des (06:04)

• On the flexibility of the Japanese labor market:

  • “Japanese companies prefer to hire new employees as they graduate from university…” – Skip (04:38)

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Important Timestamps

• Survey discussion & main global worries: 01:00–01:37
• Country-specific unemployment breakdown: 02:13–06:04
• UK jobs market detail: 05:10–05:57
• US economy recovery: 06:11–06:37

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Vocabulary Segment – “Down to Vocabulary” (06:52–11:00)

The hosts break down key business terms used in the episode, each with definitions and examples:

• Resolution / To Resolve:
  • Changing bad habits, e.g., New Year’s resolutions (06:52)
• Incentive:
  • Financial or other motivation for action (07:25)
• To Spike:
  • To increase rapidly, e.g., "Unemployment in Turkey spiked…" (08:01)
• To Manipulate:
  • To alter or skew data (08:37)
• Recruiter / To Recruit:
  • Person/org that finds job candidates (09:08)
• Aerospace:
  • Industry making anything that flies (09:47)
• Geology / Geologist:
  • Study of earth/minerals; profession in demand due to mining/oil (10:21)

Quotes from Vocabulary Section:

• “Sales of iPhones spiked last year when Apple introduced the 4S model.” – Skip (08:19)
• “A skillful manager is able to manipulate staff into doing whatever it is that he or she wants them to do.” – Des (08:57)
• “There’s a world shortage of geologists coming from Canada.” – Des (10:48)

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Tone, Language, and Speaker Dynamic

Skip and Des maintain an engaging and conversational tone, blending data-rich analysis with personal anecdotes and practical advice for business English learners. Humor and candid opinions lighten the serious subject matter, while direct references to listeners (“Did you know…?”) help maintain engagement.

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Final Thoughts

This episode provides a timely, insightful snapshot of global labor markets and business vocabulary in early 2012, ideal for international listeners hoping to build not just their economic awareness but also practical business English.

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For further study and listening, check the episode transcript and vocabulary list at downtobusinessenglish.com

Transcript

[A]

Hello everyone. This is Des Morgan here coming to you from Abu Dhabi.

[B]

And this is Skip Montreux reporting from Tokyo, Japan. And you are listening to an all new episode of down to Business English.

[A]

I'd like to wish all of our listeners a happy and prosperous 2012.

[B]

Yes, happy new Year to everyone. And of course to you, Des.

[A]

Thanks Skip. And a Happy New Year to you too. Did you make any New Year's resolutions this year and then break them already?

[B]

Funny you should ask. I did resolve to cut down on my smoking and I even managed to quit for a little while.

[A]

Well done.

[B]

Well, I have been worried about my health for some time now and on top of that, here in Japan, cigarette prices have been on the rise. So there is a financial incentive as well to cut down or quit.

[A]

Did you know that In a recent BBC survey conducted in 23 different countries on what people worry about, rising inflation was the third most talked about topic?

[B]

Really? What other topics were people worried about?

[A]

Well, the most talked about was corruption, then poverty, followed by unemployment and rising costs in joint third place. The interesting point though was that unemployment was the fastest growing worry with 18% of people saying they worried about it, compared to only 3% when the survey started in 2009.

[B]

With the world economies the way they are at the moment, I can see why people are worried by unemployment.

[A]

Being unemployed again is certainly something that worries me.

[B]

You are not alone. And that is our topic for today. So let's do it. Let's get D2B down to business. With unemployment, where is it a problem and who is suffering the most? So Des, let's tackle the first of those questions. Where is unemployment seen as a particularly large problem?

[A]

According to the survey, Spain came in the highest with 54% of respondents expressing concern about the employment market.

[B]

Hardly a surprise I guess, as Spain is pretty much at the heart of the European debt crisis with very high youth unemployment.

[A]

Would you believe the figure of 40% for those under 25?

[B]

Hmm. I didn't realize it was that bad, but yes, I can believe that figure.

[A]

And other countries where unemployment was perceived as a problem were Ghana, Nigeria, Mexico and Turkey.

[B]

Really? I would have expected unemployment to be an issue in Ghana and Nigeria, but I am a little surprised by the inclusion of Turkey on that list.

[A]

I was a bit too. But unemployment spiked by almost a third in 2009 to just over 14%, recovering a little in 2010 when it fell to just less than 12%, which is still higher than any other year in the past 30.

[B]

Des, I know that you took a Trip home to the UK over the holidays. How is the unemployment situation looking over there?

[A]

Well, it's not good to be honest. The current rate is 8.3% and that is the manipulated figure published by the government. It's anybody's guess what the real figure must be.

[B]

10% plus would seem likely.

[A]

Even the government admits that this figure is not getting any better and are predicting a figure of 8.8% in 2012.

[B]

I guess that is part of the reason for the riots that took place last year across British cities.

[A]

It certainly was a factor. The reported figure for youth unemployment is currently running at over 20% nationally, which of course means that it's far worse in economically depressed areas.

[B]

Japan compares relatively well to those figures with an overall reported rate of just 4.9% and a youth rate of 10.9% as reported by the Wall Street Journal in 2010.

[A]

Are those figures reliable?

[B]

Like all governments, the Japanese try to under report unemployment, but things have certainly gotten worse since the downturn in 2009 and the tsunami.

[A]

Of course, as I recall, the Japanese labor market has always been less flexible than what we're accustomed to in the West.

[B]

That is true. Japanese companies prefer to hire new employees as they graduate from university, which means that any young person graduating into difficult economic times will find it increasingly difficult to find a full time position as time goes by.

[A]

The situation in the UK is somewhat different. The online recruiter Total Jobs records the number of applicants for available positions and then analyzes the figures by area and by sector.

[B]

And what did they discover?

[A]

Well, they report that the situation is the worst in Scotland where the number of applicants for each position has risen by 50% and since 2010. And that technically unskilled sectors like retail, secretarial and service jobs had the greatest number of applicants, with all scoring somewhere in the 40s.

[B]

You mean 40 people applied for each job?

[A]

Yes, that's right. And in London it was even worse with over 60 applicants for each secretarial post advertised.

[B]

And what about for technical jobs?

[A]

There is an increase in jobs in the engineering, aerospace and oil and gas industries. But these require specialist technical skills, which it seems not a lot of applicants currently have.

[B]

Anyone starting university would probably be better advised to take a geology class rather than drama.

[A]

That would seem to be the case. Before we close though, there is one country where unemployment seems to be improving and that is.

[B]

I know this one. The US unemployment fell to a 2 1/2 year low last November according to the Department of Labor. And a few other indicators have trended up as well. Manufacturing activity rose at the end of 2011, as did consumer confidence, suggesting the US economy will grow by 2 to 2.5% this year.

[A]

Should make for an interesting election year.

[B]

It most certainly should. And now it is time for us to get D to V Down to Vocabulary.

[A]

I will start things off with the noun resolution and the connected verb to resolve. In the story, I asked Skip if he'd made any New Year's resolutions, which are bad habits, that he would like to change or resolve in some way.

[B]

So to resolve some problem would be to correct or solve it. A further example would be when I have a computer problem at work, I have to contact the IT department to resolve it for me.

[A]

That's been happening a lot to me recently.

[B]

Me too, actually. Moving on, I have a further noun incentive, which means a reward or bonus given to someone when they complete an action successfully. In the story, I talk about the money I will save or the financial incentive of giving up smoking.

[A]

Another common example is in the car industry. When a new model is released, there are a lot of incentives to buy the last stock in the earlier model, like free insurance or some free upgrades.

[B]

A similar thing happens with computers.

[A]

Yeah, all technology, really. Now, next I have a verb for you to spike, which means when something increases rapidly. In the story, I talk about how unemployment in Turkey went up rapidly or spiked in 2009.

[B]

Sales of iPhones spiked last year when Apple introduced the 4S model.

[A]

Sales of anything Apple spike when you go anywhere near one of their shops.

[B]

That's right. Just look what happened in China recently when Apple released the 4S.

[A]

Yes, that was not pretty.

[B]

Getting back to vocabulary, I have the verb to manipulate, which means to adapt or change some figures or events to make the outcome more favorable. In the story, Des talks about how governments manipulate unemployment figures so that they appear to be lower than they really are.

[A]

You can manipulate people too. A skillful manager is able to manipulate staff into doing whatever it is that he or she wants them to do.

[B]

Children are pretty good at that too. Now I have the noun recruiter and the connected verb to recruit. A recruiter is the person or company that is employed to find or recruit staff for another company that doesn't want to do it directly.

[A]

Also known more casually as a headhunter. But a headhunter is usually for pretty senior positions, whereas a recruiter refers to any type of employment. The largest recruiter in Japan is, unsurprisingly called manpower.

[B]

Japan.

[A]

No, skip the other one.

[B]

Oh, you mean recruit.

[A]

I do. My last word is the adjective aerospace, which is used to describe the industry that designs and builds aeroplanes, missiles, spacecraft, in fact, anything that flies. In the story, I say that the aerospace industry is one of the few that has increased employment opportunities.

[B]

The aerospace industry is a big moneymaker in the US with companies like Boeing, Lockheed and McDonnell Douglas to name just a few of the companies in this sector.

[A]

Just a few indeed.

[B]

And finally I have the noun geology and the associated person geologist. Geology is the study of the ground and the mineral resources that are contained there, and a geologist is the person who studies it. In the story, I said that young people would be advised to study something technical like geology if they want to get a good job.

[A]

Did you know that with the mining and oil industries doing so well at the moment, there's a world shortage of geologists coming from Canada?

[B]

Yes, I did know that actually, and

[A]

that rounds off vocabulary for today.

[B]

Thanks for all that information, Des.

[A]

You're more than welcome, Skip. I hope everyone listening found it interesting. Don't forget to check out the audio script on the [e-mail] once more. That's downtobusinessenglish.com yes, the audio script is

[B]

a great study tool, and while you are visiting the website, please consider signing up for the down to Business English newsletter. Our main Objective here at D2B is to help you improve your business English skills. Joining the newsletter will help us do that even more effectively.

[A]

The newsletter not only provides updates to some of the stories we cover here on D2B, but we also answer questions sent in by listeners regarding other vocabulary and phrases we don't cover in the D2V section. It really is a great complement to the podcast.

[B]

I second that. Thanks for listening everyone. See you next time.

[A]

Bye for now.

[B]

The music in today's show comes from Mi Vo's Music Alley. Check it out at music.medio.com.