Please, I need help with this homework This week you will explore the nature of
ID: 445235 • Letter: P
Question
Please, I need help with this homework
This week you will explore the nature of supply, demand, and price (wages) of labor in a given labor market. Labor markets may be global, national, regional, or local in scope. Within each labor market, smaller subsets exist of individuals with specific skills and abilities. For example, those individuals would possess the requisite education, licensing, and ability to practice pharmacy that would make up the subset of labor qualified to work as registered pharmacists. Each of these subsets has its own supply and demand curve, which helps to explain why, in a given labor market, there can be job openings that can't be filled while numerous workers are unemployed and seeking work. Or there may be job openings for 100 pharmacists in a market but no unemployed workers who possess the requisite job skills to fill those positions. Wage rates in a market are primarily determined by the forces of supply and demand. Whenever any commodity, including labor, is in high demand, its price tends to rise. Similarly, whenever there is an excess of a commodity, including labor, its price tends to decline. Though the forces of supply and demand play a significant role in determining wages for a given occupation in a labor market, it is not the sole determinant. Minimum wage laws act to set a wage floor in the labor market. Collective bargaining and the effect of a monopsony (a large, dominant, single buyer of labor in a market) can act to produce wage rates above or below the market equilibrium wage rate. This week you will study the nature of labor markets and the factors that affect their operation, as well as monophonies that impact wage determination. Readings and Resources Guiding Questions What do the terms "immigration" and "emigration" mean in the context of describing movement of labor in a labor market? Cite some historical examples of immigration and emigration of labor in the United States. How do unions impact the demand for labor? What jobs earn hourly wage rates, which ones are salaried? Required Readings and Resources For this week's assignment, you will undertake library, Internet, or other research that will help you understand the concepts of supply, demand, and price (wages) of labor. In completing your research, you should include a review of the concepts of marginal revenue produce (MRP) and monopsony. On the Bureau of Labor Statistics web site (bls.gov) search for, and read, the article: Boon, Z., Carson, C.M., Faberman, J., & Lig, R.E. (2008), Studying the labor market: Using BLS labor dynamics data. Monthly Labor Review. February, 2008. http://www.bls.aov/opub/mlr/2008/02/artlfull.pdf Do a BLS web site search of the most recent report on the status of the labor market. Search the Department of Labor http:/www.dol.gov/ web site for information about the various US and state minimum wage rates. Study book: Budd, J. (2010). Labor Relations: Striking a Balance 3rd edition.Explanation / Answer
The terms "immigration" and "Emigration" mean in the context of describing movement of labour in a labour market? Cite some historical examples of "immigration" and "Emigration" of labour in the united states.
Immigration is the movement of people into a destination country to which they are not native or do not possess its citizenship in order to settle or reside there, especially as permanent residents or naturalized citizens, or to take-up employment as a migrant worker or temporarily as aforeign worker
When people during their migration cross national borders, they are from the perspective of the country which they enter, called migrants or immigrants. From the perspective of the country which they leave, they are called emigrant or outmigrant.Sociology designates immigration usually as migration (as well as emigration accordingly outward migration).
Emigrate
To "emigrate" means to leave one country or region to settle in another.
Immigrate
To "immigrate" means to come to a country of which one is not a native, usually for permanent residence.
Examples
The Polenski family leaves Poland in 1943 to resettle in Canada. In that scenario, all of the following sentences would be valid.
The Polenskis immigrated to Canada in 1943.
The Polenski family emigrated from Poland in 1943.
"The Polenskis do not live here anymore. They emigrated to Canada in 1943." This example illustrates this idea from the point of view of someone in Poland, so the Polenskis have "moved away" from their perspective. As such, emigrate is used.
How do unions impact on demand for labour
Unions function by negotiating with employers to create a collective agreement that applies to all union members and typically lasts for a set time period.
Unions are able to raise wages because, when they are powerful, they may turn the labor market into a monopoly market.
Many economists criticize unionization, arguing that it frequently produces higher wages at the expense of fewer jobs. Essentially, unionization benefits the already employed at the expense of the unemployed.
In labor markets that are not competitive, the equilibrium without unionization may result in wages that are lower than the competitive equilibrium. In this case, unions may be able to raise wages without increasing unemployment.
what jobs earn hourly wage rates, which one are salaried
Many people feel that earning a salary gives them a consistent paycheck, as well as a feeling of job security. Often, salaries are equated with higher paying jobs and benefits, although this isn’t always the case. There are many advantages to earning a salary, but there are also disadvantages. At the same time, there are many advantages to being paid hourly, but in some cases the negatives outweigh the positives. Usually when you are given a job, you don’t have a choice about whether or not you will be paid by the hour or paid a salary, but it’s important not to overlook jobs that do pay hourly. Sometimes getting paid hourly is actually ideal. If you work part-time, hourly pay can often be just fine, but it can also be ideal in other situations as well, particularly if you are getting paid a lot each hour. There are benefits and negatives to both salaried and hourly jobs.
Often hourly jobs are associated with minimum wage jobs, but there are many hourly jobs that require more experience and education. Contractors often get paid by the hour, and if they are very skilled in their profession, they can make a lot of money. Some contractors work through a different company, and they have a staffing specialist or other professional who helps them find work. Other contractors are self-employed, and offer their services via their own contacts or marketing. Contractors are not the only ones who can make a lot by working hourly; what really matters is how much you can make hourly versus what you would make doing the same work but receiving a salary. If you only work a few hours per week, then working hourly can be a good fit for you
Emigrate
To "emigrate" means to leave one country or region to settle in another.
Immigrate
To "immigrate" means to come to a country of which one is not a native, usually for permanent residence.
Examples
The Polenski family leaves Poland in 1943 to resettle in Canada. In that scenario, all of the following sentences would be valid.
-
The Polenskis immigrated to Canada in 1943.
-
The Polenski family emigrated from Poland in 1943.
-
"The Polenskis do not live here anymore. They emigrated to Canada in 1943." This example illustrates this idea from the point of view of someone in Poland, so the Polenskis have "moved away" from their perspective. As such, emigrate is used.
How do unions impact on demand for labour
-
Unions function by negotiating with employers to create a collective agreement that applies to all union members and typically lasts for a set time period.
-
Unions are able to raise wages because, when they are powerful, they may turn the labor market into a monopoly market.
-
Many economists criticize unionization, arguing that it frequently produces higher wages at the expense of fewer jobs. Essentially, unionization benefits the already employed at the expense of the unemployed.
-
In labor markets that are not competitive, the equilibrium without unionization may result in wages that are lower than the competitive equilibrium. In this case, unions may be able to raise wages without increasing unemployment.
what jobs earn hourly wage rates, which one are salaried
Many people feel that earning a salary gives them a consistent paycheck, as well as a feeling of job security. Often, salaries are equated with higher paying jobs and benefits, although this isn’t always the case. There are many advantages to earning a salary, but there are also disadvantages. At the same time, there are many advantages to being paid hourly, but in some cases the negatives outweigh the positives. Usually when you are given a job, you don’t have a choice about whether or not you will be paid by the hour or paid a salary, but it’s important not to overlook jobs that do pay hourly. Sometimes getting paid hourly is actually ideal. If you work part-time, hourly pay can often be just fine, but it can also be ideal in other situations as well, particularly if you are getting paid a lot each hour. There are benefits and negatives to both salaried and hourly jobs.
Often hourly jobs are associated with minimum wage jobs, but there are many hourly jobs that require more experience and education. Contractors often get paid by the hour, and if they are very skilled in their profession, they can make a lot of money. Some contractors work through a different company, and they have a staffing specialist or other professional who helps them find work. Other contractors are self-employed, and offer their services via their own contacts or marketing. Contractors are not the only ones who can make a lot by working hourly; what really matters is how much you can make hourly versus what you would make doing the same work but receiving a salary. If you only work a few hours per week, then working hourly can be a good fit for you