Whether equilibrium is characterized by market clearing or not depends on which equilibrating forces are free to operate in the labor market in question. In the standard labor market models, three fundamental equilibrating forces are postulated. First, firms are free to hire as many or as few workers as they want depending on wages and other conditions of employment. Second, workers are free within limits to move from one market to another or into and out of the workforce depending on wages and other conditions of employment. And third, the wage paid is free to rise or fall depending on supply and demand conditions. When all three of these equilibrating forces are free to move, the labor market is expected to clear in equilibrium. Wages and employment will therefore reflect supply and demand conditions.
Beyond these barriers to equilibration, which are ubiquitous, there are also settings in which one of the equilibrating forces, the wage rate, is not free to adjust. Wages may be set above the market-clearing level by a variety of institutional forces including minimum wages laws. When this happens, the predictable consequence is unemployment.
Moving beyond this...
(Accounts Payable Processing: BPM Outsourcing) for enhanced managerial competence and price decline, many companies are concentrating a lot on reducing costs and reforming operations. The crisis is mainly severe on non-revenue producing, but vital jobs like accounts payable and purchasing. Accounts payable and procuring processes are main operations, but they are usually regarded as important cost centers. Thus, making constant developments in the accounts payable and procuring departments is
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