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© The McGraw-Hill Companies, 2002 Different types of labour
© The McGraw-Hill Companies, Hourly earnings in the UK 2000 In both manual and non-manual occupations, men are seen to earn more than women. Does this mean there is discrimination?
© The McGraw-Hill Companies, Sources of differential pay Education and training Job experience Race and gender Trade union membership
© The McGraw-Hill Companies, Human capital The stock of expertise accumulated by a worker It is valued for its income-earning potential in the future A form of investment
© The McGraw-Hill Companies, Age-earnings profiles Age-earnings profiles show how typical earnings vary with age and educational qualifications –education induces a differential –which tends to increase with age. Age Income No formal qualifications A-level or equivalent University degree or equivalent
© The McGraw-Hill Companies, Worker organisations designed to affect pay and working conditions. A closed shop –an agreement that all the firm's workers will be members of a trade union. A trade union may raise wages by restricting labour supply. Trade unions
© The McGraw-Hill Companies, D' Unions in the labour market Employment Wage W0W0 With no union, the industry faces a horizontal labour supply curve at the wage W 0. By restricting labour supply to N 1, the union can increase wage to W 1 N1N1 W1W1 The differential is larger for any given reduction in industry employment, the more inelastic is industry labour demand Given industry demand for labour DD, equilibrium is at E 0. D E0E0 N0N0 D
© The McGraw-Hill Companies, Discrimination? Women and non-whites on average receive lower incomes than white males. Women and non-whites are concentrated in relatively unskilled jobs with fewer opportunities for promotion. This need not reflect blatant sexism or racism by employers...
© The McGraw-Hill Companies, Discrimination? (2) It may reflect –educational or other disadvantages before young workers reach the labour market –a low perceived rate of return for firms on money spent in training such workers. Only if we allow for all these effects can we show discrimination in the labour market.
© The McGraw-Hill Companies, Some important questions Why does a top professional footballer earn so much more than a professor? Why does an unskilled.
Chapter 5 Human Capital Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
Chapter 12 The analysis of factor markets: labour David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point.
Most wage increases occur through a demand-supply negotiation mechanism between unions and employers. These are called enterprise negotiations and usually.
© 2010 Pearson Addison-Wesley. The census bureau defines a households income as money income, which equals market income plus cash payments to households.
ECONOMIC INEQUALITY 18 CHAPTER. Objectives After studying this chapter, you will able to Describe the inequality in income and wealth in the United States.
Chapter 6 Labor Mobility Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
The economics of training Is training important? Is training important? –Workers & firms –Economy Who should pay for training? Who should pay for training?
MARKET POWER IN THE LABOR MARKET 17 APPENDIX. Objectives After studying this appendix, you will be able to: Explain why union workers earn more than nonunion.
LABOR MARKET IN THE LONG RUN Long Run -- A period of time over which firms can enter and leave the market and existing firms can change all of their inputs.
Clicker Quiz. Approximately what percentage of U.S. workers were union members in 2010? a)6% b)12% c)22% d)34% 1.
Copyright 2006 – Biz/ed The Labour Market.
Economic Inequality CHAPTER 18. After studying this chapter you will be able to Describe the inequality in income and wealth in the United States and.
1 Gender Pay Gap Quiz Welcome to the gender pay gap quiz! This short quiz uses multiple choice questions to explain the causes and impact of the gender.
How Much Less do Women Earn? Examining Differences by Region Dr. Vanessa Gash University of Manchester.
DEMAND AND SUPPLY IN FACTOR MARKETS 17 CHAPTER. Objectives After studying this chapter, you will able to Explain how firms choose the quantities of labor,
Markets for Factors of Production CHAPTER 18 C H A P T E R C H E C K L I S T When you have completed your study of this chapter, you will be able to.
Gender differences in earnings over the lifecourse Heather Joshi, Centre for Longitudinal Studies, Institute of Education, University of London GeNet seminar.
© 2002 McGraw-Hill Ryerson Ltd.Chapter 14-1 Chapter Fourteen Unions Growth and Incidence Created by: Erica Morrill, M.Ed Fanshawe College.
© © The McGraw-Hill Companies, Aggregate output in the short run Potential output –the output the economy would produce if all factors of production.
Chapter 9SectionMain Menu Labor Market Trends How do economists define the labor force? What occupational trends exist in the U.S. economy? What is temporary.
WORK AND PENSIONS SELECT COMMITTEE: Labour market seminar: 26 TH February: ‘Trends in part-time working and short-term employment contracts and the impacts.
THE ECONOMY AT FULL EMPLOYMENT: THE CLASSICAL MODEL 24 CHAPTER.
Economic profit = total revenue - all economic costs Economic profit = total revenue - all economic costs Economic costs include accounting cost (explicit.
G:\gen\house\unifem_upskilling1 A Presentation at the UNIFEM UP-SKILLING OF GENDER TRAINERS WORKSHOP NADI, FIJI MAY, 1999 POPULATION, GENDER & DEVELOPMENT.
1 Modelling the Gender Pay Gap By Wendy Olsen and Sylvia Walby (Part of a 3-part project on Modelling Gendered Pay and Productivity, EOC )
Chapter 12. LABOUR McGraw-Hill/IrwinCopyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 12.
SECTION 2 WORK Starter… In pairs come up with your own definition of ‘Tax’
Jill Rubery Manchester Business School Regulation and Gender Equality.
Labor After the Civil War. Population and Labor Force (in Millions), 1870–1920 Population is increasing, as is immigration. The labor force is also increasing.
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