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Labour economics - Wikipedia

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Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers, usually in exchange for a wage paid by demanding firms.[1][2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables.[3] Labour markets or job markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income. These patterns exist because each individual in the market is presumed to make rational choices based on the information that they know regarding wage, desire to provide labour, and desire for leisure. Labour markets are normally geographically bounded, but the rise of the internet has brought about a

Labour economics - Wikipedia Jump to content From Wikipedia, the free encyclopedia Study of the markets for wage labour For the journal, see Labour Economics (journal) . A "help wanted" sign seeks available workers for jobs. Part of a series on Economics Outline Index Glossary Economists Principles of Economics Tools and methodology Economic theory Mathematical modeling Game theory Rational choice Cognitive science ( Behavioral ) Economic equilibrium Empirical methods Experimental Econometrics Time series Spatial Causal inference Quasi-experiments Prescriptive and policy Welfare analysis Socia

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