In turn, the competitive pressures generated by
the increased demand for labour will bid up wages, to the point where the extra revenues generated by hiring an additional worker are completely offset by the higher wages that this worker can command.
The second way is through
increasing the demand for labour.
However, certain conditions such as severe weather can
increase the demand for labour and materials and raise costs beyond normal inflation.
Ireland's economic growth has continued to outpace other countries in the Eurozone, which all else being equal would tend to
increase demand for labour.
Not exact matches
In a competitive
labour market, the
increase in the
demand for labour produces upward pressure on wages, and an
increase in output supplied to a competitive goods market will drive down prices.
The most common solution given
for increasing labour demand is ensuring that our graduates have the type of skills that are currently in
demand by employers.
Opportunity: As
labour markets become more fluid, there's an
increased demand for HR specialists who can attract and hold onto the most talented employees.
The immediate effect of the
increase in the
demand for labour in the resources sector is to produce upward pressure on wages in the resource sector.
These prices continue to rise more rapidly than building - materials prices, suggesting that profit margins and / or
labour costs in the residential construction sector have
increased in response to the recent strength in
demand for residential construction work and the rise in prices of established houses.
Demand for labour has
increased, with employment rising solidly over recent months and the unemployment rate continuing to trend down.
What
Labour needs is a new social democratic revisionism, that heavily focuses on restructuring the welfare state, to unite communitarian and cosmopolitan voters, in an era of globalization, high inequalities,
increased demands for choice, and an ageing population This requires applying the principles of solidarity, reciprocity and individual empowerment, in relation to reforming the welfare state, to make it more effective at tackling poverty and providing economic security, and to satisfy rising
demands for choice.
Writing in the 1960s, Meade envisaged a future in which technological change would reduce the
demand for labour and thereby
increase the return to capital.
Increases in the
demand for labour will move the economy along the
demand curve,
increasing wages and employment.
As such, if the
demand for goods and services in the economy
increases, the
demand for labour will
increase,
increasing employment and wages.
The Ayuba Waba led Nigeria
Labour Congress has
demanded for increase to over N50, 000 while the Joe Ajaero led council has
demanded for over N90, 000 as minimum wage.
But they are just one of the many casualties of the changing legal market, where downward pressures
for cost, and
increase ability to make
demands on otherwise unemployed or underemployed
labour supplies.
These wage changes suggest an
increase in
labour market pressures, driven by hiring and subsequent
demand for skills.
This is the first year, with the exception of Italy, where all countries covered in the Index have experienced economic growth, which in turn is leading to the creation of jobs and
increasing the
demand for skilled
labour.
This is reflected in the findings of the Hays Global Skills Index 2014 in which our CEO, Alistair Cox reflects upon the growing
labour pressures and an
increased demand for skilled workers:
The Polish economy is expected to grow faster in 2017 (3.9 per cent) than in 2016 (2.7 per cent), which could
increase demand for skilled
labour.
The economies in the Americas are forecast by the IMF to grow by 2.1 per cent in 2017, nearly double the growth rate achieved by these economies in 2016.23 That will tend to
increase demand for skilled
labour in the region.
In past years, we have found that an improving economic environment tends to be linked with tightening
labour markets as
demand for talent
increases and the challenge of recruiting the most sought - after skills begins to impact organisations.
Retirees bring financial resources earned elsewhere and spend it in the local community,
increasing local
demand for labour.»