Discussion Board 1
The recession of 2007-2009 has impacted many industries, but few have been hit as hard as the newspaper industry. From a loss of subscribers to a loss in advertising revenue, print newspapers are experiencing economic change unlike any other time in history. Last year, Denver?s Rocky Mountain News stopped publishing in February, the Seattle Post-Intelligencer ceased printing their publication and converted to an online-only format in March (and in the process, laid off 145 of their 165 employees), McClatchy Co., owner of the Miami Herald, announced in March it was cutting 1,600 jobs and reduce wages throughout the company, and even the venerable New York Times made a deal to sell its share of its headquarters and lease it back, raising a much needed $225 million in the process. These are just a few of the many examples of hard times in this industry.
Why do you think the newspaper industry has been hit so hard? What sources do you use to get news? Why? Do you subscribe to a local paper, and if so, do you receive a print copy or receive it electronically? How have changes in the news industry affected unemployment? Discuss how changes in this industry have resulted in not only cyclical unemployment, but also frictional and structural unemployment.