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benjamin5_PPT_06 - Chapter Six Labour Demand,NonWage...

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Chapter 6-1 Chapter Six Labour Demand,NonWage Benefits, and Quasi- Fixed Costs
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Chapter 6-2 Chapter Focus Nonwage benefits Hours of labour Payroll taxes Labour decisions in economic downturns
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Chapter 6-3 Figure 6.1 Components of Total Compensation Total Compensation Nonwage Benefits (supplementary labour income) Wages and Salaries ay for Time Worked Pay for Time Not Worked
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Chapter 6-4 Quasi-Fixed Labour Costs Independent of the number of hours worked Non-wage benefits raised from 15.1% in 1953, to 32.4% in 1984, and then to 36.7% in 1998. They include: hiring costs training costs dismissal costs nonwage benefits
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Chapter 6-5 Quasi-Fixed Costs Impact the employer's decisions on: work schedules hiring and Layoff decisions unemployment (labour hoarding)
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Chapter 6-6 Nonwage Benefits vs. Wages Why wouldn’t employees prefer wages over nonwage benefits? generally not taxed economies of scale for group purchases Perception that they are free
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Chapter 6-7
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