SummaryCh01 - S u m m ar y There are three main groups of...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Summary • There are three main groups of actors in the labour market: individuals, firms, and the government. Individuals make decisions concerning how they will earn a living: whether and how much to work, what type of work they will do, and what kinds of skills they will acquire in order to work. Firms make decisions about how much and what type of labour they will hire.Governments set various poli- cies, many of which have direct implications for the decisions of individuals and firms, and also affect the operation of the labour market itself. • While there are many dimensions to the decisions made by these actors, we can distill the outcomes of the decisions to individual outcomes, especially concerning earnings, employment (or hours), and wages. Preliminary explorations with individual- level data show considerable dispersion in these outcomes for Canadians, and systematic differ- ences between men and women. These empirical features, or “labour market facts,” merit further
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 02/05/2011 for the course ECON 3240 taught by Professor Noordeh during the Winter '11 term at York University.

Ask a homework question - tutors are online