What causes shifts of labor supply?

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Presentation transcript:

What causes shifts of labor supply?

Changes in preferences and social norms Changes in population US labor force grows approximately 1% a year Policies affecting immigration affect population growth, and thus labor force Changes in preferences and social norms For example, more women working

Changes in opportunities Offshoring has diminished some manufacturing jobs Less job discrimination for women in professions such as medicine, law, engineering High wages in one market may attract workers away from another market. Changes in wealth Early retirees from tech boom may value leisure more than work Stock market declines may cause many new retirees to reenter work force