LABOUR MARKET
Labour market is defined as a market which workers and employers are brought into contact and conditions of work are decided. It is made up of people who are looking for job, employers and government.
THE CONCEPT OF LABOUR FORCE
Labour force can be defined as the total number of people of working age in a country who are gainfully employed and those who fall within the age bracket, capable and willing to work by law but have no work to do in a country at a particular period of time.
Labour force is the working population and it comprises all persons who have jobs and who are seeking for jobs in the labour market. They are between the age of 18 years and 60 years. Working population varies from one country to another.
FACTORS AFFECTING THE SUPPLY OF LABOUR OR SIZE OF LABOUR FORCE (WORKING POPULATION)
MOBILITY OF LABOUR
The mobility of labour refers to the ease with which workers or labour can move from one occupation to another or from one geographical area to another.
TYPES OF LABOUR MOBILITY
Industrial mobility of labour has two aspect; vertical industrial mobility of labour and horizontal industrial mobility of labour.
Vertical mobility of labour usually takes the form of promotion with the same. For example, the Vice-Principal of a school could be promoted Principal.
Horizontal or lateral mobility of labour takes place when a worker move from one industry to another but still performs the same task occupies the same rank. For example, an Accountant can leave the Star Beer factory at Aba for the textile mills at Aba.
CAUSES OF MOBILITY OF LABOUR OR FACTORS INFLUENCING MOBILITY OF LABOUR
THE EFFICIENCY OF LABOUR
The efficiency of labour refers to the extent or degree to which labour can be combined with other factors of production to yield maximum output.
In other words, efficiency of labour is the ability of labour to attain higher level of output without a reduction in the quality of output.
FACTORS DETERMINING EFFICIENCY OF LABOUR
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