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Higher Paid Jobs Vs. Lower Paid Jobs, Why?

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Introduction

Higher Paid Jobs Vs. Lower Paid Jobs, Why?

Using the laws of demand and supply, we can now explain why an economist is paid more than a labourer, or a sales assistant or warehouse personnel. Wage rates will be higher on average:  

If the job requires special talents, qualifications and experience; nearly all workers could become machine minders or refuse collectors, so the supply of these workers is very high. Very few workers have the right talents, qualifications and experience to become directors of companies, so the supply of these workers is very small. For example, if there is shortage of supply of economists then this will result in a rise in wages. Workers do not have the same education, training and ability. E.g.

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Middle

Sometimes workers work for less than they could earn simply because they do not know about better paid jobs elsewhere. Lack of information about jobs id one reason for difference in earnings. Certain jobs, for example, nursing, are thought by some people to give a lot of jobs satisfaction and some people maybe prepared to do them without very high pay.

If the job is dangerous, unpleasant, or results in long hours of work. Few workers will want to work at the same wage as in safer or more pleasant jobs. So, again, the lower supply will push up wages.If the demand for the product that the worker makes is high, thus causing a high demand for workers in the industry.

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Conclusion

The ease with which workers can move between jobs and different parts is known as the labour force mobility. If workers are very mobile, they will move to the jobs that offer them the most pay and they will also move to from placed of high unemployment to areas with job vacancies. High labour mobility or willingness to move can help reduce differences in unemployment and wage rates in different parts of the country.

Some jobs may offer lower wages because they offer free perks such as company cars of fringe benefits such as BUPA insurance. Higher paid jobs often tend to have the most jobs.

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This student written piece of work is one of many that can be found in our GCSE Height and Weight of Pupils and other Mayfield High School investigations section.

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