Labor Markets and Their Many Aspects
The negative aspects of a loosely-regulated labor market:
The dangers of under-regulation
The labor laws of the state of Pennsylvania are still highly influenced by the unionization movement that began in the steel mills of the state. It is said that "no state in America has a richer labor history than Pennsylvania" (Pennsylvania labor history, 2011, IAP). The AFL and CIO were founded in the state. "The 1877 railroad strike, the 1892 battle of Homestead, and the 1919 steel strike" are all nationally famous incidents that were highly influential upon the development of the modern labor movement and remain potent, collective state memories (Pennsylvania labor history, 2011, IAP). However, "the struggle against child labor, sweatshops and oppressive working conditions unfortunately continue today in the global economy. Workers' rights to form unions and collectively bargain, to have a safe and healthful workplace, and to have health care and secure pensions are still contested in this country and around the world" (Pennsylvania labor history, 2011, IAP). While Pennsylvania's laws are more protective of workers than federal labor laws and laws in many states of the union, it is far from exempt from many of the negative workplace trends of the modern era, including outsourcing of critical jobs and a decline in union membership.
Because of its history in the labor rights movement, Pennsylvania has adopted more stringent regulations in many areas of labor law. For example, its child labor laws mandate that 14 and 15-year-olds can only work 3 hours after school and even family businesses are not exempt from child labor laws. "For minors who are 16 and 17, the maximum hours increase to 28 per school week, plus eight hours each on Saturday and Sunday," which is more restrictive than the federal laws governing child labor practices (Nichols 2010). Overtime must be at least 1.5 times the employee's regular pay rate, although most workers can be mandated to work overtime and there are some exemptions, such as workers paid annually rather than by the hour.
Still, unionization...
Labour Market Flexibility Causes and Consequences of Labour Market Flexibility The world has been going through dramatic changes for the past few decades. Uncountable inventions are made which influence not only the life of an individual but also the face of economy and nature of political affairs. Particularly speaking in the context of 21st century, the world has become so dynamic that everyday brings some news of invention and innovation. This change
administered to 50 respondents. The data obtained from these participants was credible for analysis since there were no substantive missing values. The questions were based on a Likert Scale that made it easier for participants to provide their responses and enhance reliability. Data obtained from this instrument was analyzed using descriptive statistics and measures. In this case, the researcher utilized Cross Tabulation analysis and Chi-Square analysis. Participants' Demographics This study had
Labor Market, Unemployment Defining and classifying Unemployment There is a level of unemployment in any economy, which is not automatically a bad thing, as most people would think. The presence of a level of unemployment, which usually is presented as a percentage, indicates that at any one given point in that economy, there are people looking for work and managers looking for better employees. In economics, the only important factor to look
Unemployment in the Labour Market Is Primarily Voluntary talk about Keynesian theory, classical theory, new classical theory, new Keynesian theory, neo-classical theory also mention the game theory, Marxian theory, natural rate of unemployment, and the rational expectations role. Please use graphs as well to explain Unemployment is a particularly high topic in the news at the moment with the recession seemingly refusing to come to a stop and the number of people losing
Similar to product markets, labour markets tend to be characterised by imperfections. The imperfections stem from factors such as monopsony, trade unions, wage discrimination, labour immobility, government interventions, as well as incomplete information on the part of workers (Manning, 2010; Abbritti, Boitami and Damiani, 2012). Indeed, labour markets are persistently imperfectly competitive (Dwivedi, 2010). Imperfections in the labour market often play a significant role in generating unemployment (Baker et al.,
Working Experience in the Labor Market Labor standards cover aspects like minimum wage, overtime pay, maximum and minimum work hours, statutory holidays and parental leave. They represent an employee's minimum labor rights -- a base below which organizations aren't allowed to go. They are essentially a collection of labor laws, which enable employees to protect personal time, have a better job-family balance, and receive a decent wage under acceptable working conditions.
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