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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
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 ...
The first burst on Tuesday — a critical read on activity within the jobs market — showed that the once too-tight labor market is starting to look more like its pre-pandemic days.
Labor market tightness is underpinning the economy, with data this week showing a solid increase in retail sales in July and a surge in single-family homebuilding, which prompted economists to ...
The labor market is steadily rebalancing in the wake of 525 basis points worth of rate hikes from the U.S. central bank since March 2022 to cool demand in the overall economy.
Now, consider a model where there are two countries: Home and Foreign. Each country is represented by a MPL curve. Initially, Home's labor force is at point C and Foreign's labor force is at point B. In the absence of labor mobility, these points would stay the same.
An economic and monetary union (EMU) is a type of trade bloc that features a combination of a common market, customs union, and monetary union. Established via a trade pact, an EMU constitutes the sixth of seven stages in the process of economic integration. An EMU agreement usually combines a customs union with a common market.