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Firms may respond to increases in labor costs induced by the Baumol effect in a variety of ways, including: [12] Cost and price disease: Prices in stagnant industries tend to grow faster than average; Stagnant output: Real output in low-productivity-growth industries tends to grow more slowly relative to the overall economy
While temporary changes in overall demand for labor cause cyclical unemployment, structural unemployment can be caused by temporary changes in demand from different industries. For example, seasonal unemployment often affects farm workers after harvesting is complete, and workers in resort towns after the tourist season ends.
There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
The causes of occupational stress can be placed into a broad category of what the main occupational stressor is and a more specific category of what causes occupational stress. The broad category of occupational stressors include some of the following: bad management practices, the job content and its demands, a lack of support or autonomy and ...
Political and business decisions during the ongoing COVID-19 pandemic have had a distinct impact on low wage workers in industries including retail. New research quantifying this impact has shown ...
The labour supply curve shows how changes in real wage rates might affect the number of hours worked by employees.. In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real (inflation-corrected) wages increase beyond a certain level, people will substitute time previously devoted for paid work ...
U.S. employers posted 8.7 million job openings in October, the fewest since March 2021, in a sign that hiring is cooling in the face of higher interest rates yet remains at a still-healthy pace.
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