Essays on Labor Demand

Introduction

Migration is a situation where people move from one place to another for varied reasons. It can occur from a region to another, from one country to the next or even from one continent to the next. In International Migration, people move from one country to another or others. The movement can be an individual, a family, clan, and other groups with a common interest. The reason for this displacement can be wage driven, capital, risks, or labor demand. Many theories explain the reasons why people migrate; in this paper, we will discuss two of them; neoclassical economic theory ...

Question #1

If the Board of Schmeckt Gut will convince the Government of Industria to make a free trade agreement with Atollia, there will be no tariffs. According to the regression equation, we have estimated in Module 4, the coefficient of tariffs is negative. Hence, if tariffs are applied, this leads to a decrease in the demand of our energy bars. Without tariffs, the demand will be increased. Since the demand will be increased, the supplier should increase the volume of production. This, in turn, leads to an increase in Schmeckt Gut’s labor demand, as it needs more employees to ...

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Introduction

High rates of unemployment are referred to one of the biggest economic concerns in the United States. The number of unemployed people increases substantially in the periods of economic downturn. As Stater and Wenger (2013) ascertain, “the national unemployment rates averaged 9.5 and 9.0 percent in 2010 and 2011” (p. 2). The unemployment rate serves as an indicator of “a community’s socioeconomic deprivation as well as its social disintegration or disorganization” (Singh & Siahpush, 2016, p. 9). This indicator is strongly associated with income inequality as well as levels of poverty across ...

Article Summary

As the economy is showing robust growth with the retail and construction sector expanding at a favorable rate, the demand for labor is also on the rise. The grim unemployment situation of the recession period of 2008-09 has now changed into a phase where the firms are facing shortage of skilled labor . The unemployment rate for the segment of population without a high school degree also fell in the past one year. The participation rate for the low skilled workers has also increased with increased demand for labor. The retail sector has showed an employment growth to the tune ...

Introduction

In economics, a market is an institution or a mechanism that brings together buyers (bearers of demand) and sellers (suppliers) of certain goods and services. At the same time, markets may take various forms, including the form of the labor market. The labor market not only covers employees in all sectors of the economy of various skilled workers, but also working-age people who are not involved in the social production at the moment (for example, temporarily unemployed people). In the most general form, the labor market is the economic relationship between the demand and the supply of labor. The ...

Implications of Raising the Minimum Wage

Introduction Most states in the United States have already passed laws that aimed at raising the minimum wages for employees. In the 24th of July 2014, the Fair Labor Standards Act (FLSA) ratified the $7.25 federal minimum wage for employees from both public and private companies (United States Department of Labor). Though this news may seem positive to employees, debates on whether wage hikes are necessary and really helpful to both employees and employer.

A very few studies have examined the relation between the Law of Supply and Demand on the wage rates of employees. However, all of these ...

The question of minimum wage introduction for low-skilled workers offers conflicting research findings. Some theorists suggest that the introduction of minimum pay for low-skilled labor may affect the whole employment. However, the general model of competitive market for labor assumes that the introduction of minimum wage will cause job loss among the low-skilled employees. This report is dedicated to the economic analysis of this model.

What Economic Theory Predicts Will Happen

The simplest approach includes the analysis of one separate labor type. In such market, the minimum wage that overshoots the competitive equilibrium in the market causes harm to employment from two standpoints. First of ...

I. Introduction A. Opening Remarks: For centuries, countries have been working on having easy access to foreign markets for a variety of reasons. B. Thesis Statement: Although the NAFTA presented positive changes to the economies of all signatories, the labor market suffered in some areas of the United States and Mexico due to the changing labor demand in the market and the lack of opportunities for the rural folk. II. Background of the NAFTA A. History: Economic integration has long been an issue discussed by North American governments since the 1900s. B. Aims: Under the NAFTA, each signatory will ...

- Competitiveness for emerging airlines, mergers and globalization

Faced with possible increase in new entry into the industry, the existing airline businesses should seek to be more innovative in means of lowering their costs in order to enjoy economies of scale and increase entry barriers to the industry hence protecting their competitiveness. (Fred, 2011) With possible mergers, the existing airlines should seek to establish key partnerships with key suppliers and service providers in order to draw suitable synergies necessary for enhancing competitiveness. (Barron & Lynch, 1989)

As globalization present several challenges and opportunities, there is a need to devise strategies like partnering with service providers in different ...

The regulation of the labor market suggests the impact on labor demand and supply. The objects of regulation are the wages, working week and holidays, the procedure of hiring and dismissal, various kinds of social welfare and others. The main indicator of the labor market is wage, which is determined by summation of total cost of goods required for normal human activity. Changes in the level and amount of remuneration are in direct interaction with the changing supply and demand in the labor market. Summation of the whole demand of labor market resources at any price is considered to ...

According to the National Bureau of Economic Research, the most prolonged economic recession, which started in 2007 in the United States, has been over since June 2009. Nevertheless, American people are still experiencing its damaging consequences. Ordinary people are far more concerned with their family economics, and are in the midst of a struggle for their well-being. As Barack Obama claimed, for millions of unemployed people, for those who have trouble paying their bills from day to day, recession is still very real. After the official end of Great Recession, real GDP has increased only by 2.9%, U.S household ...

Labor Market

Labor market is a form of the economy that functions through demand and the supply of labor. Labor demand is the companies demand; labor and supply focus on the supply of the labor workers. The bargaining power is likely to have high influence on both supply and demand. Majority of the nation is aware that the labor market institutions that have equalizing effects tend to encounter challenges (Peitchinis, 2005). Policy change is required in relation to equality since it ensures that the status quo focuses on both national and international change. Labor market comprises of employees searching for work, employers ...

In Turkey, private versus public wage differences are common. What is not known is the extent of these wage differentials. In developing nations where the major wage employment portion originates from the public sector, the wage differences are common. The public sector can dictate the setting of wages and employment activities in the labor market. It is important to undertake a different analysis of labor markets of the public sector. This paper analyses the private-public wage differentials that prevail in turkey. The Turkish public sector spending covers the wage bill as the biggest item. This represents a significant concern for ...

The effect of minimum wage on employment has been one of the most explored topic in the discipline of labor economics. During the global recession that plagued the world recently, the rate of employment for the low-skilled and young workers (who comprise the largest component of all minimum workers) worsened disproportionately. Traditionally, some economists have argued that the imposition of a minimum wage that is above the market clearing equilibrium wage reduces employment and at the same time contributes to unemployment particularly among the relatively unskilled as well as the young workers. This is quite ironical given that this is ...

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Introduction In the 21st century, two facts will pose significant threats to the global economy. One, the demand for energy across the globe will grow by at least 50 percent by 2030, and the use of non-renewable energy sources will continue to be the main source of energy, supplying 86 percent of global demand. Alberta, Canada is in a prime position to capture a major part of the global energy demand market. Located in the western part of Canada, Alberta is second only to Saudi Arabia in identified energy reserves among the global market players. Majority ...

Education plays a critical role in the labor market, in both developed and developing economies. In MENA (Middle East and North Africa), a well-structured labor market is characterized by the level of education attainment. Some studies conducted on some particular countries within MENA show that educated employees receive more earnings especially in the public sectors. This implies that the employers are more concerned with the people who have attained a higher level of education than those who are not well educated (Lietz et al. 6). These countries include Yemen, Jordan, Morocco and Egypt. As a result, the higher education attainment level attracts higher ...

A company that has been selected is Apple and the job is human resource management. The value proposition for any company is crucial for its operations. This is because the value proposition for Apple provides the chance for this company to attract its customers. It serves as its energy and its power. The role of value proposition for Apple is that it will convince all the customers that Apple’s products and its services are the best among all the rivals in the industry. Therefore, customers will have the information that Apple is a company with the best value proposition ...

Political Science

Every action has an equal and opposite reaction. This fundamental law of physics also sees an application when it comes to the U.S economic policy and it’s affect on immigration. The United States’ economic policies both on the nationally and globally have throughout history shaped the modern day immigration scene. From the American model of neo-mercantilist colonization of Latin American countries such as Cuba and Puerto Rico, creating more open markets through military intervention in Nicaragua, Guatemala, and El Salvador, to creating a domestic demand for cheap labor in the agricultural, construction and domestic industries, the U.S. economic policies ...

Introduction

Globalization has led to the improvement of human lives and the development of many economies. The effects of globalization can be felt in the economy’s sectors, as well as the social and political lives of human beings around the world. The labor market has been positively and negatively affected by globalization. It is essential to comprehend the effects of globalization on the labor market since the earnings from the labor market form the main source of income for many people around the world. This is especially in the developing world where there are few entrepreneurs and hence high ...

Introduction

The Republic of Southern Korea has changed at an alarming rate since the end of the Second World War. At the end of the war in 1945, majority of the people living in South Korea peninsula were poor peasants (South Korea – society 2011). There was a negative impact on most Koreans from the Japanese colonial regime from 1910 to 1945 that promoted modernization of the society, since the intention was to serve Japan. Since then, South Korea has evolved dynamically to an industrial society (South Korea – society 2011). By 1990, education and health standards had risen, and most of the ...