Labor Market Trends Occupational Trends The Changing US

Labor Market Trends Occupational Trends The Changing US Worker �hifts in the job market S reflect major shifts in the economy Industrial revolution � caused shift in job market from agriculture to industry Today shifts toward � electronic and computer related firms, and transfer of information U. S. changing from � manufacturing economy to service economy �orkers required to be W more educated Learning effect: theory � that education increases productivity and results in higher wages Screening effect: theory � that the completion of college indicates to employers that a job applicant is intelligent and hard working More women, temporary � workers � Trends in Wages And Benefits �light decline in S average earnings for American workers over past 20 years Earnings for college � graduates have gone up Benefits workers � receive have increased

All non-military people who are employed or unemployed Labor force is divided into employed and unemployed To be considered employed, an individual must be at least 16 years old and meet several other requirements Labor Force People are counted as unemployed if they are 16 years or older, not institutionalized, and meet other requirements Bureau of Labor statistics (BLS) reports monthly on the current labor force and historical trends Employment and unemployment related to supply and demand in work force Labor force made up of those who have jobs, those looking for jobs, and those waiting to start work

Organized Labor and Labor Unions �mployees often E have little control over the conditions of their work Workers from � labor unions to try to improve their working conditions, wages, and benefits Rise of the Labor Movement Decline of the Labor Movement Types of workplaces Collective Bargaining Strikes and Settlements �rose largely in A response to changes brought by the Industrial Revolution Used strikes, organized � work stoppages intend -ed to force and employer to address demands Began to boom in the � 1930 s � The AFL and the CIO � were united in 1955 � with the aim of organizing workers in numerous big industries �s unions grew, A some began to abuse the great amount of power they had Taft-Hartley Act � allowed states to pass right-to-work laws banning mandatory union membership Changes in U. S. � economy reduced union membership �losed shops hire C only union members Union shop will � hire nonunion members but require them to join the union within a certain period of time Agency shops hire � nonunion workers and do not require them to join the union �nion and com. U pany representatives meet to negotiate new labor contracts Negotiation � issues include wages and benefits, working conditions, and job security When unions and � companies cannot settle a new contract, must seek other options, such as strikes Mediation: compa� nies bring in neutral mediators who find solutions both sides accept Arbitration: third � party imposes decision that both sides must accept

Labor Market Trends Occupational Trends The Changing US Worker Trends in Wages And Benefits

Labor Force

Organized Labor and Labor Unions Rise of the Labor Movement Decline of the Labor Movement Types of workplaces Collective Bargaining Strikes and Settlements