Discuss the five important labor market trends
List and discuss the five important labor market trends How do these trends either support or qualify the proposition that increasing labor productivity leads to higher standards of living?
Trends: Trends in Real Wages
1. Real wages have gone up rather steadily for decades allowing working class wage earners to enjoy a larger and larger piece of the GDP pie. Today’s families can purchase more things than a family could purchase in earlier years.
2. Since the 1970s, the rate of growth in real wages has slowed. (This follows the productivity slowdown discussed in Chapter 20.) The Bureau of Economic Analysis reports labor’s share of GDP in nominal terms. These data show that labor’s share has been decreasing over the last three decades. The return to capital and management (entrepreneurship) has grown at the expense of labor. This is a complex issue that can lead to frustrating class discussions unless the instructor and the students are well prepared.
3. Inequality in wages and incomes has increased in recent years. The Census Bureau provides tables that show the relationship between education and income as well as between job classifications and income.
Trends in Employment and Unemployment
4. The number of people who have jobs has grown in recent decades. The number and the proportion of women in the labor force have grown demonstrably in the past 30 years. The Bureau of Labor Statistics reports that in 1950, about one in three women participated in the labor force. By 1998, nearly three of every five women of working age (16 to 65 years of age) were in the labor force. Among women age 16 and over, the labor force participation rate was 33.9 percent in 1950, compared with 59.8 percent in 1998.
5. In addition to the increased number of women in the labor force, approximately 30 percent of the increase in the population – about 3 million per year – will join the active labor force. These new entrants come from immigration as well as from the natural increase in the population. Regardless of source, additions to the population mean more workers to help produce more things.
We value our customers, and so ensure that our papers are 100 percent original. Our Team of professionals does not miss the mark; they ensure that step by step each paper is written uniquely. We never duplicate or work as we compare papers rest assured. We deliver our work a day before time to ensure that you don’t miss your deadlines. It is not only doing the work but delivering it at the right time. We capture the consequences of late remittances. .
We value customer satisfaction here at popularessaywriters.com and make sure that you get the best value for your Money. It happens that sometimes you can pay twice for your order or may want to cancel it, or you feel that it doesn’t meet your requirements; our money back guarantee will give you the opportunity to get back your money. We will also refund 100% of money paid double. In case your paper does not satisfy your requirements , we request that you notify us via writing within 2 days otherwise on the third day we will assume that you have been satisfied. Do all your correspondences through our email address firstname.lastname@example.org.Read more
At popularessaywriters.com, our professional writers know the consequence plagiarism does for our clients. We have updated software’s such as article checker and copyscape to check for originality of the custom papers before submission of the final paper to the you. Our guarantee to the customer is that we will write 100% original papers for them that are quality, timely and of low cost. We have experienced professional and competent PhD writers who will write quality custom papers for you..Read more
. At popularessaywriters.com, we are proud to provide top-quality Essay writing service to our esteemed customers. We are ready to take up that challenging academic assignment that is giving you sleepless nights and simplify it for you according to your desired requirements. We are willing to revise your paper if it does not meet your requirements. At popularessaywriters.com, we do not compromise with quality; thus, we offer unlimited free revisions until the customer is satisfied with their custom paper. Our unlimited free revision services are provided under the following terms:.. .Read more
Popularessawriters.com knows that client’s information is an essential tool for our company. It means that whatever the client requests from our service is kept strictly confidential. It means that whoever writes for this company understands the terms and conditions hence you should not be worried because you will never see your work somewhere else...Read more
Rest assured that we will always be attentive to your needs and requirements. We belief in the phrase treat your neighbour as you would want them to treat you. We leave nothing to chance and always look forward to a good interaction with each other.. .Read more