Economics: Ch. 9 Labor What you need to know….

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Presentation transcript:

Economics: Ch. 9 Labor What you need to know…

The MAIN Ideas Who is the labor force? 16 years old or more Non military Employed Unemployed

The Types of Labor UNSKILLED BLUE COLLAR VS. VS. SEMI-SKILLED PROFESSIONAL BLUE COLLAR VS. WHITE COLLAR GREEN COLLAR

How are wages determined? SUPPLY AND DEMAND LEVEL OF EDUCATION SOME GENDER OR RACIAL DISCRIMINATION STILL IMPACTS WAGES

What are the current trends? Wages are generally decreasing due to: High cost of benefits Global competition Inflation

What role do labor unions play? COLLECTIVE BARGAINING RIGHT TO WORK LAWS DECLINING MEMBERSHIPS

WHY ECONOMISTS STUDY THE WORKFORCE… OUR WORKFORCE DRIVES OR PRODUCTIVITY: value of output produced, p. 219 AND THUS OUR SUPPLY AND DEMAND!

How Will You Study This? Read Ch. 9 (at home) Research Current Data (on the internet) Review with a Guided Reading Activity

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