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Economics - What does overall supply of labour depend upon?

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Economics Mr Ratinckx 1.) What does overall supply of labour depend upon? The overall supply of labour is affected in several different ways. First of all, the working population is considered to be in between 16 and 65 years of age. The inactive population is therefore those younger than 16 and those over 65 years. If there was a huge baby boom in the foreseeable future then the benefits of this would not be felt until some years later when they would become part of the working population. However, in order that the government can gain maximum tax revenue is if more people are in full time education and higher education with the prospect of working in a high paid job. Initially, this would be quite difficult but it would relieve the pressure placed on by the dependency ratio. ...read more.


The tertiary and services sector have a tendency to employ more women, possibly because they are more 'approachable' than men. One could think of this as sexual discrimination perhaps. Those men who worked in low skilled jobs also found it difficult to adjust to a new job as those low skilled jobs are not readily available. However, the younger male population tend to stay in education additional to compulsory education. 3.) What has been the economic impact of migration both into and out of the British economy over the past 40 years? The impact of migration had many advantages as well as disadvantages. Over the last 40 years migration, in some cases, has severely affected the working population. For example, in the 1960's and 1970's many people chose to migrate to another country so the working population would decrease. ...read more.


Formerly, women tended to be house wives, they used to all the house work but because of technological advances time taken to do all the housework shortened leaving the women nothing to do for the rest of the day. The other reason is that women are more flexable with their work hours, they tended to work more part-time. The demand for women workers has sharply risen with the increase in tertiary and services sector. More employers are looking for women to improve the appearance of the company. 5.) To what degree has changing the nature of employment within U.K. affected participation ratios of men and women? Over the last few decades, due to the decline in manufacturing industries and the incline of tertiary industries we can conclude that there has been extensive. This is because as manufacturing industries declined many men found it difficult to learn new skills as well as employers preferred to train younger people. The ratio's show this by male inactivity slowly rising as female inactivity fell. ...read more.

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