Labor Market Scenario

Running head : LABOR MARKET SCENARIO[Author][University]Labor Market ResearchThere be a lot of personal manners by which parturiency bring home the bacon and demand will shift depending on the degree of its carry on on the symmetricalness state of the labor trade . permit us take an example of the technology industry , for the past(a) years , this sector has been experiencing high job growth maybe due to the numerous technological breakthroughs happened for the past years (Ginther Zavodny , 2002 . For causa , the development of iPod required Apple to hire additional labourers to hold in the overwhelming response of the consumers on the say product . In this regard , at first , the demand curve of labourers in the technology industry will receive to shift exhalation to the right making the hire reckon higher than the equilibrium level . As term goes on when former(a) labourers from other industries would move towards the technology industry due to higher wage straddle , allow will start to shift discharge to the left making a pressure for the wage stray to lower down , thus making a modern equilibrium wage rate after the demand lolly from moving to the right due to the lowering of the wage rate on the industry (Regan , 2003Another situation wherein demand and supply of labor will be shifted by a market persuasiveness would be the case when the demand for wellness c are service boosts due to the aging of most of baby boomers . There are around 76 million baby boomers in joined States alone and this is a great number of potential consumers (US-history .com , 2002 . With the utter booming of the health maintenance industry , just akin in the transportation industry , the demand curve of labourers of health care industry will start shifting spill to the right of the equilibrium state giving the labor market a higher wage rate assuming that the supply of labourers in the market is kept constant .

By the time labourers from other industry found out that they could earn to a greater extent in the health care industry , they will start migrating into the said industry pushing down the wage rate and shifting the supply curve of labourers in the health care industry going to the left of the equilibrium point . At the end of the day , the supply and demand would find their way having a new equilibrium state that could accommodate said improvements to various industriesReferencesGinther , D . K Zavodny M (2002 . Preface : engineering , Growth and the Labor Market . Retrieved January 18 , 2008 , from HYPERLINK http / mickle .ku .edu dginther /Publications /intro_q302 .pdf http /people .ku .edu dginther /Publications /intro_q302 .pdfRegan , M (2003 . Estimating the Impact of Public constitution and Investment Decisions . Retrieved January 18 , 2008 , from HYPERLINK http / web .ctdol .state .ct .us /lmi /misc /cedmay03 .htm http / entanglement .ctdol .state .ct .us /lmi /misc /cedmay03 .htmUS-history .com (2002 . Baby Boom Generation . Retrieved January 18 , 2008 from HYPERLINK http /www .u-s-history .com /pages /h2061 .html http /www .u-s-history .com /pages /h2061 .htmlLabor Market PAGE MERGEFORMAT...If you want to collar a full essay, order it on our website: Ordercustompaper.com

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