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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 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.
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 ...
"Labor market conditions remain very strong, and the economy is returning to a better balance between the demand for and supply of workers," Fed Chair Jerome Powell said in a speech on Dec. 1.
From 1945 to 1979, the U.S. was at full employment two-thirds of the time. Conservatives and business interests pushed back however, as tight labor markets meant more worker bargaining power, higher wages and less profitability. Since 1980, full employment ("defined as an unemployment rate below 5 percent") has been maintained one-third of the ...
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 waiver application pointed to unemployment rates of 5.2% or higher in those places over the two years from February 2021 to January 2023, while the national average was around 4.4% during that ...
Flexicurity (a portmanteau of "flexibility" and "security") is a welfare state model with a pro-active labour market policy. The term was first coined by the social democratic Prime Minister of Denmark Poul Nyrup Rasmussen in the 1990s. The term refers to the combination of labour market flexibility [1] in a dynamic economy and security for ...