The World of Labor is changing rapidly!

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Presentation transcript:

The World of Labor is changing rapidly! Global Labor Trends The World of Labor is changing rapidly!

Flexible Labor Markets Costs Benefits

Buy American? http://www.youtube.com/watch?v=lYyrqSmhals Please watch this video if you were absent Wed. (AP Calc. Exam)

New Labor Trends Over the past 15 years Labor has significantly changed United States: Unions are declining Less “Job Security” Declining Manufacturing Jobs Rising Demand for Educated Workers ↑ Gap between Rich & Poor Globally: Globalization: “free trade” with other countries Collapse of Soviet Union & Communist Economies China & India emerge as economic powers European Union forms common currency

Jobs that last? Article Analysis

Income Distribution Free markets focus on EFFICIENCY not EQUALITY United States has enormous wealth but tremendous inequality record gap between the very rich and the very poor

Income Distribution Bottom 20% Top 5% 1968 $7,900 $83,000 1968 $7,900 $83,000 1999 $7,995 $130,000 Change: + 1.0% +56.0% D2 The pay gap widens!

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Van Heusen Shirt Company 3 of 8 Factories close => move to Latin America What are workers owed by a company?