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Labour (Different wage rates for different jobs (Skills, MRP, Training…
Labour
Demand for Labour
Derived Demand
Productivity of Labour
Wage rate
Downward sloping part of MRP
Supply of Labour
Size of pop
No. of hours worked
Participation rate
Upward sloping
Backward bending supply curve of labour
Determination of wages
In free markets
Markets where there is interference (Trade unions)
Government Intervention (min wage)
Factors affecting the productivity of Labour
Inside their control
Outside their control
Different wage rates for different jobs
Skills
MRP
Training Period
Non-monetary benefits
Tradition
Trade Union Involvement
Unemployment
Live Register
Labour Force Survey (LFS)
Reasons for Growth in Irish Labour Force
Natural Increase
Upturn in the economy
Higher participation rate
Types of Unemployment
Frictional
Seasonal
Structural
Cyclical
Institutional
Mobility of Labour
Geographical
Occupational