1. In order for any country to grow, it must have a large and skilled labour force.

LABOUR

1. In order for any country to grow, it must have a large and skilled labour force.

2. Since the size of this force is related to total population the number of people available for production activities will grow as the population grows.

3. If the growth of population continues to decline, it eventually affect the growth of the labour force.

4. However a labour shortage¹could be made up²by workers from other countries.

5. There are four major categories of labour that are based on the general level of skills needed to do any kind of job. These categories are unskilled, semiskilled, skilled and professional or managerial.

6. Unskilled labour. Workers who do not have the training to operate machines and equipment fall into³ the category of unskilled labour.

7. Most of these people work chiefly with their hands at such jobs as digging ditches, picking fruit, etc.

8. Semiskilled labour. Workers who have mechanical abilities⁴ fall into the category of semiskilled labour.

9. They may operate electric floor polishers, or any other equipment that calls for⁵ a certain amount of skill.

10. Skilled labour. Workers who are able to operate complex equipment and who can do their tasks with little supervisions fall into the category of skilled labour.

11. Professional labour. Workers with high level skills such as doctors, lawyers and executives of large companies fall into the category of professional labour.

12. Most occupations have wage rate — a standard amount of pay given for work performed.

13. How these rates are determined can be explained in two different ways. The first deals with supply and demand, the second recognizes the influence of unions on the bargaining process⁶.

14. Money is not only a means of exchange¹ but is also a means of measuring the value of men’s labour in other words labour is any work undertaken in return² for a fixed payment.

15. It should be noted that any person engaged in private business is not paid a fixed sum for his activities.

16. He is self-employed⁴ and his activities are partly those of an employer⁵ and partly those of an employee⁶.

17. If however he employs an assistant, to whom he pays a fixed wage, his new employee provides labour in return for payment.

18. He receives his wages, while his employer receives the surplus (large or small) from the whole business.

19. This surplus is the reward of private enterprise and is known as «profit⁷».

20. The theory that uses the tools of supply and demand to explain differences in wage rates is called the traditional theory of wage determination.

21. When the level of supply is large in relation to demand, wages generally are low.

22. When the level of supply is low in relation to demand as with managers — wages generally are high.

23. In most cases, the higher the level of skills, or grade of labour, the higher the average yearly wage rate³.

24. At times, wages are determined not by supply and demand but by the influence of organized labour and the collective bargaining process.

25. In these cases, unions do not try to get higher wages for their members on the grounds⁴ that labour is in short supply relative to demand.

Дата добавления: 2015-11-04