This document provides an introduction to employment and labor concepts for commerce classes. It defines key terms like worker, types of workers including self-employed, hired, casual and regular. It also defines labor supply, labor force, unemployment, workforce and participation rate. It discusses why people work, to contribute to GDP and earn a living, and why it's important to study employment topics for awareness, manpower planning and understanding future manpower requirements.
4. INTRODUCTION
A worker is an individual who is engaged
in some production activity
Production activity:- refers to work that is
done in order to get a product
In simple words a worker engaged in the
process of production activity and
contribute towards national income of the
country.
5. TYPES OF WORKER
There are four types :-
Self employed
Hired workers
casual workers
Regular workers
6. SELF EMPLOYED
WORKERS
H
I
R
E
D
W
O
R
K
E
R
•Who work their own
business or profession.
•They earn profit as their
reward for their services.
These are those who
hired by others and they
earn salary and wages for
their services.
9. LABOUR
SUPPLY
LABOUR
FORCE
Refers to number of workers
actually working or willing to
work.
It is not related to wage rate.
Labour supply measure in terms of
man hours of works
For example :- you may be able to
work 10 hours a day but willing to
work only 6 hours . So yours utility
time is 6= man hour=Labour supply.
10. UNEMPLOYMENT
WORK FORCE
Refers to number
of persons who are
actually working
Formula
Labour force - who
are not working but
willing to work
Individual who are
employable
They actively seeking a
job but are unable to
find a job.
formula
No. Of persons
unemployed / size of
labour force × 100
11. PARTICIPATION RATE
REFERS TO THE PROPORTION OF
POPULATION THAT IS ACTIVELY
ENGAGED IN PROCESS OF
PRODUCTION.
FORMULA :
TOTAL WORKFORCE/TOTAL
PARTICIPATION ×100
15. WHY DO PEOPLE WORK
FACTOR 1
FACTOR 2
Contribute towards GDP
People work to earn living. And for self esteem or self worth.
16. WHY SHOULD BE
STUDY ABOUT THAT
For AWARENESS
For manpower Planning
Understanding the nature
and existence of
employment
future requirements of
manpower.
