What have been the main changes in the Demand and Supply of Labour of the last 30 years? Free Essay, Term Paper and Book Report
The demand of labour is derived, this means that employers only hire workers to allow the company to produce products or offer services which can be sold at a profit. The demand for a certain type of labour is derived from the demand for the product or service that the labour produces. Over the last 30 years the pattern of demand for goods and services in the UK has changed considerably (structural change). The supply of labour consists of all those who are economically active (currently working or actively seeking work). The structure of labour supply refers to the size and the composition of the workforce. There are two factors which influence the structure of labour supply: Demographics and Participation ratios. So the supply of labour (size of workforce) depends on the size of the population of working age (16 60/65) and the percentage of those within the working age who choose to be economically active. The size of the workforce has increased from what it was 30 years ago.
The structural change in the economy is reflected by the change in the pattern of employment as shown......
Word Count: 746
Page Count: 2.9 (250 words a page / double spaced)
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