2. Labour market supply, demand, innovation, investment
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This document discusses labor markets and the factors that impact supply and demand for labor. It defines a labor market as a market where people offer their skills in exchange for compensation like wages. The labor market reaches equilibrium when the supply of labor equals the demand. Technological advances are changing the types of jobs available, increasing demand for skills that complement new technologies while putting low-skilled jobs at risk. Investing in education, training, factories and machinery can raise future living standards by increasing productivity and wages. Firms provide both general and specific job training to workers.
2. Labour market supply, demand, innovation, investment
- 1. Supply Demand Innovation Investment Daniela Perciun Giulia Cavicchioli 2015/2016 Classe 4^AM
- 2. A LABOUR MARKET IS A MARKET WHERE PEOPLE OFFER THEIR SKILLS TO EMPLOYERS IN EXCHANGE FOR WAGES, SALARIES AND OTHER FORMS OF COMPENSATION. LABOUR FORCE NON- LABOUR FORCE PEOPLE IN PRISONS OR PSYCHIATRIC WARDS STAY-AT HOME SPOUSES CHILDREN PEOPLE SERVING IN THE MILITARY
- 3. Commodit y Market Labour Market REFERS TO A PHYSICAL PLACE IS VIEWED AS A PROCESS
- 4. MPR THE DEMAND FOR THE GOODS THE WORKER IS PRODUCING WAGE RATE
- 6. THE LABOUR MARKET WILL REACH EQUILIBRIUM WHEN THE SUPPLY OF LABOUR EQUALS THE DEMAND FOR LABOUR. THIS POINT OF EQUILIBRIUM IS CALLED MARKET CLEARING.
- 7. IN THE PAST, AUTOMATION WAS LARGELY CONFINED TO MIDDLE- INCOME ROUTINE MANUFACTURING AND CLERKING OCCUPATIONS, BUT THINGS ARE CHANGING.
- 8. CHALLENGES FOR LOW-SKILLED WORKERS . SKILL OBSOLESCENCE AND THE LACK OF SKILL DEVELOPMENT. THE DEVELOPMENT OF SKILLS COMPLEMENTARY TO NEW TECHNOLOGIES. EDUCATIONAL EFFORTS SHOULD AIM TO PROVIDE WORKERS WITH BOTH TECHNICAL, CREATIVE AND SOCIAL SKILLS.
- 9. JOBS THAT ARE NOT AT RISK OF COMPUTERISATION: MANAGEMENT, EDUCATION, HEALTHCARE SCIENCE OR ENGINEERING JOBS
- 10. INVESTMENT IN FACTORIES, MACHINERY, NEW TECHNOLOGY, AND IN HEALTH, EDUCATION, AND TRAINING OF PEOPLE CAN RAISE FUTURE STANDARDS OF LIVING.
- 11. EDUCATION INCREASES SKILLS AND THESE IN TURN INCREASE PRODUCTIVITY. HIGHER PRODUCTIVITY IS THEN REWARDED THROUGH HIGHER EARNINGS. MADE BY PEOPLE THEMSELVES MADE BY EMPLOYERS IN THEIR EMPLOYEES INVESTMENTS CAN BE
- 12. INVESTMENTS: THE SOONER THE BETTER PROBLEMS A STUDENT CANNOT USE HIMSELF AS GUARANTY FOR A HUMAN CAPITAL LOAN. THE ABSENCE OF STUDENT LOAN PROGRAMS.
- 13. WHAT ARE THE BENEFITS OF A UNIVERSITY DEGREE? WHAT IS THE COST OF A UNIVERSITY DEGREE? WORKERS WILL BE COMPENSATED BY HIGHER WAGES DIRECT COSTS COSTS FOR FOOD AND RENT OPPORTUNITY COST
- 14. GARY BECKER DISTINGUISHED BETWEEN: FIRM-SPECIFIC JOB TRAINING GENERAL JOB TRAINING
- 15. SITOGRAPHY http://www.oxfordmartin.ox.ac.uk/downloads/academic/technology- globalisation-future-of-work_Mar2015.pdf http://www.fte.org/teacher-resources/lesson-plans/efllessons/lesson-5-labor- markets/ http://siteresources.worldbank.org/EDUCATION/Resources/278200- 1099079877269/547664-1208379365576/DID_Labor_market_outcomes.pdf https://www.youtube.com/watch?v=H894hRwJ1PE http://highered.mheducation.com/sites/0070891540/student_view0/chapter9/ chapter_notes.html
- 16. THANK YOU FOR YOUR ATTENTION! Daniela Perciun Giulia Cavicchioli 4^ AM 2015-2016