ADMS 3422 Lecture 3: CH3 PPT book notes
13 Feb 2017
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Document Summary
Elasticity of supply and demand and its impact on labour power. Impact of free trade, deregulation, and privatization on unions. Institutional and noncompetitive factors that affect labour supply. At the end of this chapter, you will be able to discuss: Recent demographic changes in the labour force. Public attitude toward unions in north america. Current trends in income distribution and poverty. Impact of compositional shifts in the labour market on labour. The structural elements of the political system that help labour. Triggered by worst financial collapse since the great depression. Labour market forces determine employee compensation and conditions. Labour responsiveness of supply (demand) caused by a change in the wage rate. A small increase in wages causes a large increase in supply of labour. Shape of the demand curve is important. Influen(cid:272)es union"s a(cid:271)ility to raise wages without significantly affecting employment levels. Greater the employment impact of a wage increase. Greater the elasticity of demand for labour.
