11EC Chapter 22 23 Labour Market Booklet

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Draggable item		Corresponding Item
Demand for the product		Derived demand i.e. the demand for labour comes from the demand for the goods and services
Availability of substitutes		In some industries, people can be replaced by machines
Wage determination		If every worker is able to produce more output, demand for workers is likely to increase because production become more profitable
Retirement age		For example, national insurance contributions, sick pay, maternity pay
Migration		As the population grows, more people will be available to work
Age distribution of the population		Many countries welcome immigrants to help increase the working population
Wage rate		In most developed countries in the world, there is an aging population. This means the dependency ratio (the proportion of dependents (non-workers) to workers in the population) is rising
Female participation		In some countries, the retirement age is rising. This means people have to work for longer before they are entitled to a state pension
Other employment costs		Any change to the school leaving age can affect the number of people in the population who are available to work
Productivity of labour		Over the past 50 years, an increasing number of women have decided to work due to fairer treatment stemming from changes in society
Skills and qualifications		People can become more employable if they have better skills and qualifications
Population size		The amount of money paid to workers for their services over a period of time (the price of labour)
School leaving age		This is the process of figuring out how much workers should be paid through negotiations with trade unions, skills, supply, demand, government rules