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Job security is the probability that an individual will keep their job; a job with a high level of security is such that a person with the job would have a small chance of losing it. Many factors threaten job security: globalization, outsourcing, downsizing, recession, and new technology, to name a few.
Economic security or financial security is the condition of having stable income or other resources to support a standard of living now and in the foreseeable future. It includes: probable continued solvency; predictability of the future cash flow of a person or other economic entity, such as a country; employment security or job security
It is a full employment steady state job guarantee level, which is dependent on a range of factors including the path of the economy. There is an issue about the validity of an unchanging nominal anchor in an inflationary environment. [13] A job guarantee wage would be adjusted in line with productivity growth to avoid changing real relativities.
A modern alternative is a job guarantee in which the government guarantees work at a living wage. Temporary measures can include public works programs such as the Works Progress Administration. Government-funded employment is not widely advocated as a solution to unemployment except in times of crisis.
The CBPP wrote in January 2013: "[December 2012] is the 34th straight month of private-sector job creation, with payrolls growing by 5.3 million jobs (a pace of 157,000 jobs a month) since February 2010; total nonfarm employment (private plus government jobs) has grown by 4.8 million jobs over the same period, or 141,000 a month.
The federal statistical system is coordinated through the Office of Management and Budget (OMB). OMB establishes and enforces statistical policies and standards, ensures that resources are proposed for priority statistical programs, and approves statistical surveys conducted by the Federal government under the Paperwork Reduction Act. [6]
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A similar measure is the employment impact, which measures the increase in the number of total employees in the local region. Instead of measuring the economic impact in terms of money, this measure presents the impact on the number of jobs in the region. [2]