3 Discussions
Dakota Smith
Contains unread posts
Dakota Smith posted Aug 17, 2020 12:00 AM
Subscribe
Labor is a derived demand. Low paying jobs are at work demanding low-skilled labor. You have to compete with other countries to provide low labor costs. Therefore you cannot pay somebody a higher wage because then you would have to raise your prices in turn reducing your profits. Whichever country can provide the lower wages you can outsource to that country. Countries can try to prevent this by putting tariffs on those companies that try to outsource. Another thing countries can do is encourage its citizens to get the skills to earn higher wages. They can make sure there are plenty of high paying jobs in the fields that require more skills. A good example of that is how the government tries to push out STEM majors because they are higher paying jobs that require more skill that will make our economy more productive and become a bigger economy for it. Another example would be the trades. You have higher wages in those jobs because there are not enough of a labor force supply to meet the demand. To counter this a country can provide opportunities for high school students to go to a vocational school to try to see if they are interested in a trade. Another option is to provide the training at a low cost, make it feasible for people to gain these skills. It is in a countries best interest to have the labor supply to be in equilibrium with the labor demand of certain sectors, while also implementing tariffs and other taxes on outsourcing. This is the way to create an efficient economy.
Contains unread posts
Brenda Sutton Sutton posted Aug 13, 2020 4:11 AM
Subscribe
What forces are at work demanding low-skilled labor in the developing world? A labor problem that people face by wage-earners and employers are affect from cut wages, various other reason. There are four labor workforce Professional, Semi Killed, Unskilled and Skilled labor consists of work primarily with their hands, can operate basic equipment like floor polishers, dishwashers, etc. What could a country do to improve the types of skills demanded of its labor? Labor represents goods and services in the economy to provide the right skills to meet the increasing demands. Other factors that can influence international marketing is age, population and education levels.