How do markets work? - what us happening on the labour market?

4 important questions on How do markets work? - what us happening on the labour market?

What is labour force?

People between the ages 15 and 75 with a paid job or in search of one

Why does the labour changes?

-an increasing population
-an increase of the quantity of women looking for a job
-immigration and emigration
-disability of people who work

What happens when the demand for labour decreases?

Conjunctural unemployment arises
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What happens when structural unemployment arises?

When a company migrates its production to a country with lower wage costs or when a company replaces labour by machinery

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