Cards (6)

  • Pay/remuneration
    The higher the wage offered, the more people are willing to sacrifice their time and supply of labour
  • Working Conditions
    Attractive working conditions encourage a higher supply of labour to the workforce and vice versa
  • Human Capital, Skills, Experience, Education/training Levels
    Acquiring these may be difficult so there may be a lower supply of labour to firms/industries that require a higher level of education. Changes in availability of education will influence skill levels in the workforce.
  • Occupational Mobility of Labour
    The ease which workers can move from one job to another to take advantage of higher wages or better conditions
  • Geographical Mobility of Labour
    The relative ease with which workers can relocate within a nation or region to find jobs that require their skills
  • Participation Rate
    Individuals may not want to participate in the labour force because they
    • want to undertake further study
    • need to care for family
    • want to concentrate on leisure activities