How to pay their new employees to attract willing employees

Reference no: EM133243199

Assignment:

Go to the St. Louis Fed FRED (Federal Reserve Economic Data) website and search for "unemployment". You can also find unemployment data (and many other data series) by clicking on "Categories", then "Population, Employment & labor Markets" and then "Current Population Survey (Household Survey). Finally, click on "Unemployment Rate". For either method, select the "Civilian Unemployment Rate" and you should see a graph of the U3 unemployment rate.

Given the data that you found, what business decisions might Scentsy, the wax burning company, make? How would their hiring decisions be affected? What quality of employees might they be able to obtain, and how much would they have to pay their new employees to attract willing employees?

Might Scentsy need to adjust the price of their output? Should they increase or decrease their output, or should they maintain the same level of production? Why? Are there other changes to the business environment that could affect your firm's decisions or profitability (perhaps relating to other competing businesses or suppliers to the market in which your firm produces)?

Reference no: EM133243199

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