Search results
Results from the WOW.Com Content Network
Modern labor market segmentation theory arose in the early 1960s. It changed the view of many economists who had seen the labor market as a market of individuals with different characteristics of e.g., education and motivation. This perspective was intended to help explain the demand-side of the market, and the nature and strategy of employers.
The dual labour market (also referred to as the segmented labour market) theory aims at introducing a broader range of factors into economic research, such as institutional aspects, race and gender. [1] [citation needed] It divides the economy into two parts, called the "primary" and "secondary" sectors. The distinction may also be drawn ...
Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms. [1] [2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables. [3]
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 ...
Localization economies arise from many firms in the same industry located close to each other. There are three benefits of localization economies: The first is the benefit of labor pooling, which is the accessibility that firms have to a variety of skilled laborers, which in turn provides employment opportunities for the laborers.
The primary labor market is a market that generally consists of high-wage paying jobs, social security, and longer-lasting careers, but others define it as jobs that "require formal education", but in addition to white collar jobs like teaching, accounting, and the law, it also includes the skilled trades like being a plumber or a photocopy repair technician. [1]
The labor force is the actual number of people available for work and is the sum of the employed and the unemployed. The U.S. labor force reached a record high of 168.7 million civilians in September 2024. [1] In February 2020, at the start of the COVID-19 pandemic in the United States, there were 164.6 million civilians in the labor force. [2]
Split labor market theory traces the roots of racial/ethnic stratification to social and political differences that predate inter-group contact in the labor market, but the specific outcomes (caste system, exclusion, or something else) result mainly from the actions of the higher paid segment of the working class and their power relative to ...