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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.
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.
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 market has taken rate hikes down off the table for this year, but for how long if the labor market remains tight." Job openings, a measure of labor demand, were up 56,000 to 9.553 million on ...
2. Role of Unions: While union membership has declined in recent decades, unions still play a crucial role in the collective bargaining process, representing workers in negotiations with employers. [19] 3. Bargaining Representative: Employees can appoint a bargaining agent, such as a union representative, to negotiate on their behalf. [20] 4.
The tight labor market has hit certain industries — like health care and hospitality — particularly hard, but it’s having an impact across the entire economy. Workers’ wages have gone up ...