Answer:
Economic Factors/ Economic Conditions
Explanation:
Jobs or employment are affected by a number of factors in the society including: economic Conditions, advances in technology, seasonal employment flunctuations and the impact of corporate values among others
Economic conditions affect jobs such that when a nation's economy is flourishing, organisations find it harder to retain employees due to the abundance of better jobs which constantly poaches these employees from their current jobs. Economic conditions have ripple effects on wealth creation and profit maximization and this affects the employment sector as well.
In the case of the question, based on Blake Edwards's findings, the increase in interest rates (on lending) will discourage people from buying homes, they will prefer rentals and wait for a period when these rates come down. The implication of not getting people to buy homes means, there will be less lendings by banks and less job for workers in the mortgage industries such as valuers and assessors to do.
Once the inflow of cash into these two industries reduce, it becomes harder for them to keep their employees, therefore, there will be retrenchments and layoffs and many of these banks and mortgage industries will not have the financial capabilities for expansion leading to less adverts for job placements. Overall, there will be fewer jobs in these industries as a result of fewer homes being sold which is also a ripple effect of rising interest rates
However, when interest rates reduce, people are encouraged to buy homes, funds flow into banks (through lending) and mortgage industries through providing of more services.
