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The tight labor market during the Korean War prevented Empire from obtaining all the workers it wanted, but the outlook was grim for the union. Surprisingly, as Local 890's position seemed ready to collapse, Empire agreed to participate in a new bargaining session in response to a request from Local 890 for arbitration by the Conciliation Service.
However, the labour market differs from other markets (like the markets for goods or the financial market) in several ways. In particular, the labour market may act as a non-clearing market. While according to neoclassical theory most markets quickly attain a point of equilibrium without excess supply or demand, this may not be true of the ...
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 ...
Initial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 222,000 for the week ended May 11, the Labor Department said. Economists polled by Reuters had forecast ...
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Changes in the inflation level may be the result of several factors. Too much aggregate demand in the economy will cause an overheating, raising inflation rates via the Phillips curve because of a tight labor market leading to large wage increases which will be transmitted to increases in the price of the products of employers. Too little ...
Beveridge curve of vacancy rate and unemployment rate data from the United States Bureau of Labor Statistics. Frictional unemployment exists because both jobs and workers are heterogeneous, and a mismatch can result between the characteristics of supply and demand. Such a mismatch can be related to skills, payment, worktime, location, attitude ...
The insured unemployment rate was unchanged at 1.2%, consistent with a still-tight labor market. The claims data have no bearing on March's employment report, scheduled to be released on Friday ...