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The labour market in macroeconomic theory shows that the supply of labour exceeds demand, which has been proven by salary growth that lags productivity growth. When labour supply exceeds demand, salary faces downward pressure due to an employer's ability to pick from a labour pool that exceeds the jobs pool.
External numerical flexibility is the adjustment of the labour intake, or the number of workers from the external market. This can be achieved by employing workers on temporary work or fixed-term contracts or through relaxed hiring and firing regulations or in other words relaxation of employment protection legislation, where employers can hire and fire permanent employees according to the ...
The Brave New World of European Labor: European Trade Unions at the Millennium (1999) online; Montgomery, David. "Strikes in Nineteenth-Century America," Social Science History (1980) 4#1 pp. 81–104 in JSTOR, some comparative data; Murillo, Maria Victoria. Labor Unions, Partisan Coalitions and Market Reforms in Latin America (2001) online
The tight labor market has hit certain industries — like health care and hospitality — particularly hard, but it’s having an impact across the entire economy. Workers’ wages have gone up ...
The current state of economic play can be accurately summarized using an artful (at least I’d like to think) paraphrase of Winston Churchill. In 1939, the historic wartime leader famously ...
Active labour market policies are based on the concept of social investment, which rests on the idea of basing decision-making on the welfare of society in quantifiable terms, by increasing the employability, incomes and productivity of economic agents, so this approach interprets state expenditure not as consumption but as an investment that will produce returns on the welfare of individuals.
Flexicurity (a portmanteau of "flexibility" and "security") is a welfare state model with a pro-active labour market policy. The term was first coined by the social democratic Prime Minister of Denmark Poul Nyrup Rasmussen in the 1990s. The term refers to the combination of labour market flexibility [1] in a dynamic economy and security for ...
With an already-tight labor market, supply wouldn't be able to jump in response. Likewise, shrinking the labor force by deporting millions of workers could cause supply shortages, according to ...