Similar to product markets, labour markets tend to be characterised by imperfections. The imperfections stem from factors such as monopsony, trade unions, wage discrimination, labour immobility, government interventions, as well as incomplete information on the part of workers (Manning, 2010; Abbritti, Boitami and Damiani, 2012). Indeed, labour markets are persistently imperfectly competitive (Dwivedi, 2010). Imperfections in the labour market often play a significant role in generating unemployment (Baker et al., 2004; Jha and Golder, 2008). They do so by hindering employment creation, determining wages, and creating wage inequalities (Boeri and Ours, 2013). With reference to Europe, this paper analyses the link between labour market imperfections and unemployment. First, a description of labour market imperfections is provided. Then, with empirical evidence from Europe, the role of labour market imperfections in generating unemployment is discussed. Imperfections generally refer to failures. Labour market imperfections, therefore, denote failures in the labour market (Abbritti, Boitami and Damiani, 2012). The failures often emanate from efforts aimed at promoting equity and fairness in the labour market (Manning, 2010). For instance, the government may introduce legislation to curb minimum wage at a certain limit. The government may also introduce insurance benefits to improve the wellbeing of the unemployed. Additionally, workers may unionise to advocate for better pay and improved working conditions. While these efforts are intended to positively affect the labour market, they may often generate unemployment and other undesirable outcomes (Dwivedi, 2010). They may result in imperfections that may be detrimental to investment, economic activity, as well as efficient resource allocation, consequently obstructing employment growth.
Major labour market factors that generate unemployment relate to labour market institutions and regulations. Labour market institutions and regulations generally denote interventions by the government (Boeri and Ours, 2013). They include elements such as employment legislation, labour market policies, unemployment insurance, unions, and payroll taxes. These elements create unemployment by hindering the free working of labour markets (Baker et al., 2004). They impose rigidities on the labour market and decelerate the growth of employment. For instance, employment protection policies and unionisation can reduce organisations’ demand for labour and detriment workplace productivity. Equally, government-imposed labour market policies as well as labour taxes can increase labour costs and...
Rapid innovations in technology, particularly telecommunications and transportation, have accelerated the globalization process in recent years, and a number of positive outcomes have been associated with these trends, including increased levels of international commerce and improved cross-cultural understanding and communications. Despite these significant positive outcomes, the same globalization processes have also further exacerbated existing economic and political inequalities between developed nations such as the United States and the United Kingdom.
Recruitment and Selection As Brezina (2011, p.240) cites if the Human Resource department is to remain efficient and intact, the levels of teams must be consistent and allow co-operation and consultation between the line managers and the Human Resource Manager. However, this is rather different in the case of Recruitment and selection as HR managers, or even the external specialists can play a significant role of applying modern knowledge and expertise,
Policy reforms split movement coalitions, and fracture and demobilize movements. Because participating groups enter social movements with a range of goals, it is not surprising that they would view acceptable outcomes differently. Coalition dynamics are inherently unstable, as participants are constantly aware of the changing viability and value of particular alliances. In liberal polities, where political institutions are relatively permeable, coalitions are particularly fluid. A very recent example illustrates
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now