LABOR AND WAGES Labor Demand The demand for labor comes from private firms and government agencies that hire workers to produce goods and services. Demand for labor is a derived demand because it is derived by the demand for what worker produces. Productivity is the value of output.
Wages amd Skill Levels Unskilled Labor requirs no specialized skills, education, or training. Works usually earn an hourly wage. Skilled Labor requires specailized abilities and training to do tasks such as operating complicated equipment. Usually earn an hourly wage rather than sallery. Economic discrimination is a term that describes a form of discrimination based on economic factors. These factors can include job availability, wages, the prices and/or availability of goods and services, and the amount of capital investment funding available to minorities for business. The term is broadly used in economic research, and includes discrimination against workers, consumers, and minority-owned businesses.
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| Market Trends | Labor and Wages | The Paterson Silk strike of 1913 | Organized Labor | Labor Unions |
