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Insufficient demand addresses the same issue at the macro level. When there are many fewer job opportunities than unemployed individuals, the unemployment rate is high. Moreover, well-qualified workers will face a tougher job market and thus have to settle for jobs originally meant for less skilled individuals.
Economic liberalization will result in unemployment and wage inequality in developing countries. This happens as job losses in uncompetitive industries outstrip job opportunities in new industries. Workers will be forced to accept worsening wages and conditions, as a global labor market results in a “race to the bottom”.
Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms.
WASHINGTON (Reuters) -U.S. job openings unexpectedly increased in November while hiring softened, suggesting the labor market continued to slow at a pace that probably does not require the Federal ...
Economic data out Wednesday showed the pace of hiring in the US economy continued to slow. But separate data indicated layoffs remain low, keeping the US labor market in a 'no hire, no fire' stasis.
The latest Job Openings and Labor Turnover Survey (JOLTS) — which provides a sense of how much churn and movement there is in the job market — is the first major report to land in an economic ...
In 2014, university graduates from the U.S. were often unable to find a job requiring a degree; 44% could only find service jobs such as barista positions that do not require postsecondary education. [1] Underemployment is the underuse of a worker because their job does not use their skills, offers them too few hours, or leaves the worker idle. [2]
America’s slowing job market is taking a toll on people’s moods. The Conference Board’s latest consumer survey showed that Americans became much more pessimistic about the US economy’s ...