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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 ...
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 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
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The "Dual Sector Model" is a theory of development in which surplus labor from traditional agricultural sector is transferred to the modern industrial sector whose growth over time absorbs the surplus labor, promotes industrialization and stimulates sustained development.
"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.
Changes in the inflation level may be the result of several factors. Too much aggregate demand in the economy will cause an overheating, raising inflation rates via the Phillips curve because of a tight labor market leading to large wage increases which will be transmitted to increases in the price of the products of employers. Too little ...
The labor movement experienced a big — and generally successful — year in 2023. Nowhere was that more apparent in the auto sector, where the United Auto Workers (UAW) extracted big concessions ...