Wage Differentials
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3709There are several reasons why wages may differ between individuals, occupations, industries, and regions. Supply and demand factors influence wages, as some professions like barristers have limited supply and long qualifications, making them difficult to substitute. Government policy, such as minimum wage laws, and union activity can also impact wages. Discrimination based on characteristics like gender and ethnicity can cause labor market failures and unequal treatment. For example, women on average earn 60% of what men earn in the city described and face a 39% gender pay gap. Ethnic minorities also face discrimination through lack of access to higher-paying occupations and lower pay within jobs.
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Wage differntial
1. Wage differentials refer to differences in pay between jobs based on skills required, responsibilities, working conditions, and other factors.
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3. Executive compensation packages for top managers include salaries, bonuses, stock options, benefits, and perks that are tailored differently than compensation for other employees and aim to attract, retain, and motivate high-level executives.
Economic theories of wages
This document outlines 8 economic theories of wages: 1) Subsistence Theory, 2) Wages Fund Theory, 3) Residual Claimant Theory, 4) Surplus Value Theory, 5) Marginal Productivity Theory, 6) Bargaining Theory of Wages, 7) Employment Theory, and 8) Competitive Theory. It provides a brief description of each theory, including key assumptions and economists associated with each view of how wages are determined.
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This document summarizes eight major theories of wages:
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For downloading this contact- bikashkumar.bk100@gmail.com
Prepared by Students of University of Rajshahi
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Isoquants represent combinations of inputs that produce the same level of output. They have several key properties:
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3. Isoquants never intersect, as that would represent one combination producing two output levels. Higher isoquants correspond to higher output levels.
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1) Subsistence theory argues wages are determined by the cost of basic needs.
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All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
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Unemployment
of a country represents the figure
of p
eople in the work force who are willing
to work but do not have a job
to do. It is therefore
stated as a percentage and calculated by dividing the number of people who are unemployed by the total work force
w
hils
t
t
he
work force
is made up of
those people who want to work. I
t
thus
excludes
people who are disabled, retired
, and able to work but not c
urrently looking for a position. F
or instance, they
may be taking care of the family or going to school i.e. college
.
It is also found that people can be unemployed because of several factors like; some
quit their positio
n and are looking for a new one, their company reduced the work force and they are seeking a new position to be filled. This can be due to a local condition, where a company closes a division or plant, or a national condition, when the economy slows in that it cannot favor the company and many companies may decide to reduce their work force. Next can be that t
hey were laid off due to lack of work and haven't yet been rehired.
Others may
have recently returned to the work force - perhaps from pregnancy or attending school - and haven't yet located a position.
Another factor is that one of self expertise.
The need for their skill set has gone down, and there are limited positions available, which may lead to unemployment until they train for a new position.
Finally, technology could have
reduced the need for their type of position
.
Hence unemployment comes in several ways and affects millions of people at any given time of life. People can find themselves out of a job.
Study guide
The document defines key terms related to unemployment and employment trends. It discusses unemployment, job security, underemployment, and labor flexibility. It then summarizes unemployment trends in the EU and Philippines from 2000 to 2015, noting declines in unemployment rates and increases in employment. Underemployment also declined from 2014 to 2015. The largest groups among the employed and unemployed are discussed.
CATCHING UPt The Gender Gap in Wages, circa 2000 The.docx
CATCHING UPt
The Gender Gap in Wages, circa 2000
The transition of women into the U.S. labor
market was surely one of the most profound
economic and social changes of the 20th cen-
tury.' In 1900 about 20 percent of women were in
thi labor force. This percentage rose to about 34
in 1950 and reached 61 percent in 2000; not far
below the 75-percent participation rate of men.
A key element in this change was the dramatic
rise in market work among mamed women with
children under the age of 18, whose labor-force
participation increased from a rate of 18 percent
in 1950 to 7 1 percent in 2000.
However, for much of the last 50 years the rise
in women's labor-force activity and its growing
convergence with that of men, did not appear to
be matched by a narrowing of the gender gap in
pay. Between 1955 and 1980, the most com-
monly cited measure of that gap, the female-
to-male ratio of median annual earnings of
full-time year-round workers, hovered around
60 percent. But using the same measure, the
ratio began to rise after 1980, reaching 69 per-
cent in 1989 and 74 percent in the mid 1990's,
after which it leveled off. Based on a more
appropriate measure, average hourly wage rates
(available since 1979), the gender gap is
smaller, but the pattern of change is similar, and
the ratio rises from 66 Dercent in 1979 to 80
percent in 1993 and then' stabilizes (Fig. 1).
Through the years the gender gap in wages
frequently has been a source of public concern
and a puzzle to researchers. In this paper I
tDiscussants: Donald Deere, Texas A&M University;
Haniett Duleep, Urban Institute; Jeffrey Grogger, Univer-
sity of California-Los Angeles.
* Department of Economics and Center for the Study of
Business and Government, Baruch College, City University
of New York, 17 Lexington Avenue, New York, NY 10010.
I thank Mei Liao and Wenhui Li for excellent research
assistance, as well as Alex Cavallo of Lexecon, Inc.
See Jacob Mincer's (1962) pioneering work on the
determinants of women's labor force participation.
examine evidence from the Current Population
Survey (CPS) and the National Longitudinal
Survey of Youth (NLSY79) on recent trends
and current sources of the gender gap.
I. Unique Factors Underlying Gender
Differences in Skills
In comparing the earnings of different demo-
graphic groups it is usually important to exam-
ine the effect of productivity differences
between the groups that might account for any
earnings differential. In the case of differences
in earnings between racial and ethnic groups of
the same sex, productivity differences most of-
ten stem from differences in the quantity and
quality of education and other human capital
acquired at home as well as in school. Differ-
ences in productivity between men and women,
however, are not likely to be due to differences
in educational background. Sisters and brothers
are exposed to the same parental background
and attend schoo.
Employment unemployment
Unemployment occurs when able, available and willing workers cannot find jobs despite actively searching. Persistently high unemployment has damaging economic and social costs. In the UK, over 1 in 6 young people and nearly 40% of the long-term unemployed have been out of work for over a year. While UK unemployment has fallen recently, there are limits to how far it can drop without affecting other goals. Unemployment is measured in various ways including surveys and benefit claims.
Employment unemployment
The document discusses unemployment and labor market data in the UK. It provides definitions of key terms like unemployment, labor force, and employment rate. It also summarizes recent UK unemployment levels and rates over time, showing a decline. However, barriers remain to lower unemployment further, such as structural unemployment, under-employment, and regional variations. Policies aim to stimulate both labor demand through macroeconomic measures and labor supply through training and incentives, but high long-term unemployment poses challenges.
Family6 Discr
The document discusses several studies on pay gaps between genders and races. For the gender pay gap, about 2/3 can be explained by differences in characteristics and 1/3 is unexplained. For the black-white pay gap, 89% is explained by characteristics and differences in education levels. The document also discusses theories of discrimination, including statistical discrimination, Becker's theory of discrimination, and policies aimed at reducing discrimination.
Topic 6.pptx
Transparency around pay may help reduce gender pay gaps. Statistics show women earn around 80-91% of what men earn, even after accounting for factors like experience and job role. While discrimination based on gender is illegal, pay secrecy can allow unequal pay to persist. Some companies and places are becoming more transparent about pay, like Subreddit adopting a policy of openly sharing pay ranges, to minimize unequal starting salaries between men and women. Increased transparency around hiring and promotion criteria as well as pay scales may help address unconscious biases and assumptions that contribute to gender pay disparities.
19
Workers earn different wages for many reasons, including compensating differentials for job attributes, human capital levels, and natural ability. The return to accumulating human capital through education has increased wages significantly over the past decade. Unexplained variations in earnings are largely due to ability, effort, and chance. Some economists argue that education serves as a signal of ability to employers. Wages are sometimes above equilibrium levels due to minimum wages, unions, and efficiency wages. Differences in earnings also stem from discrimination by race, sex and other factors, though measuring discrimination requires accounting for human capital and job characteristics. Competitive markets tend to limit discrimination's impact, but it can persist if customers prefer discrimination or if required by law.
19
Workers earn different wages for many reasons, including compensating differentials for job attributes, human capital levels, and natural ability. The return to accumulating human capital through education has increased wages significantly over the past decade. Unexplained variations in earnings are largely due to ability, effort, and chance. Some economists argue that education signals high ability to employers. Wages are sometimes above equilibrium levels due to minimum wages, unions, and efficiency wages. Differences in earnings also stem from discrimination by race, sex, and other factors, though measuring discrimination requires accounting for human capital and job characteristics. Competitive markets tend to limit discrimination's impact, but it can persist if customers prefer discrimination or if government mandates it.
The Truth about Public Employees in California
On average, California’s public sector workers are more highly educated. Of full-time workers, 55% hold a four-year college degree in the public sector compared to 35% in the private sector. Educational attainment is the single most important predictor of earnings—thus it plays a vital role in this analysis. On average, California state and local governments pay college-educated labor less than private employers. The earnings differential is greatest for professional employees, lawyers and doctors. On the other hand, the public sector appears to set a floor on compensation. The earnings of those with a high school degree or less is higher in state and local government than it is for similar workers in the private sector. There are other significant personnel differences between the public and private sector workforces. The age (median) of a typical worker in state and local government is 44 compared to 40 in the private sector. Furthermore, the state and local government workforce has more women (55%) compared to the private sector (40%).
IGCSE Economic Textbook Chapter 18 Workers PPT
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Strayer UniversityProfessor Dr. Angela ParhamPAD 500.docx
Strayer University
Professor Dr. Angela Parham
PAD 500
December 11, 2016
Raising minimum wage for federal contractors to $10.10 per hour.
*
Introduction Employment laws and regulationsHonest livingDepartments within the agencyEthical concerns Organizational ethics
Federal contractors, one who works with the federal government to provide services, supplies, or other work. They are subjected to special employment laws and regulations.
Right now minimum wage is only $7.25 per hour; families cannot make an honest lively with no $7.25 per hour. This is the reason why we have so many families living in poverty and on government assistance. So, why only raise minimum wage on federal contractors and not everyone who’s out to make an honestly living in today’s society.
There are varieties of departments within this organization; but only the federal contractors are considered for this pay increase. Uniformed and civil service employers are to keep arm’s length relationship with contractor employees.
There are many ethical concerns with raising minimum wage to $10.10 per hour for federal contractors only, but I will only explain a two and they are support and criticism.
Analyzing the overall manner in which the Department of Defense and how raising minimum wage will impact their organizational ethics.
*
Raising Minimum Wage Minimum wage for federal contractors only Minimum wage will go from $7.25 per hour to $10.10 per hourMinimum wage should be $14.50 per hourRelief on government fundsPeople in poverty
Minimum wage will only be for federal contracted workers. The wage will go form $7.25 per hour $15, 080 per year to $10.10 per hour $21,008 per year. The wage should go up to $14.50 per hour which is $30,160 per year this way people can live out of poverty. It will take $28,000 per year for someone not to live in poverty, so $14.50 per hour would put a lot of people above the poverty. Lesser people would need government assistance and if everyone was making this it could wipe government assistance out for the working and be able to help the people that really need it like the elders and veterans.
*
Policies SupportDomestic policy support minimum wage Establish funds for the governmentModifying policy for federal contractors Modifying policy for all workersComing out of poverty
Policy generally confine the problems and issues within the country, this plays a part with the welfare of citizens of the country will be a big part of the domestic area.
More taxes will be gain from workers once wages are increased their income will be to $21,008 per year instead of $15,080 per year.
Raising minimum wage to $14.50 per hour would be a great accomplishment for the government. This would cut down on government assistance.
A lot of government funding will be cut and then these funding would be good for education and nursing homes.
Raising minimum wage to $14.50 per hour $30, 160 per year would benefit people by removing them out.
SociologyExchange.co.uk Shared Resource
This document discusses poverty, who experiences it, and why. It defines absolute and relative poverty. Key signs of poverty in modern Britain include not having a bank account, spending over 10% of income on energy bills, and poor access to opportunities. Certain groups are more likely to experience poverty, such as single-parent households, unemployed individuals, families with young children, pensioners, those who left school early, and women. Higher unemployment, income inequality, tax benefits for wealthy, longer lifespans, more single-parent families, and high housing costs have all contributed to increased poverty in recent decades.
Causes of-poverty-fact sheet
Poverty is measured by both low income and deprivation of essential goods and services. Certain groups in Australia are at high risk of poverty, including the unemployed, single older people, Indigenous Australians, single parents, and the "working poor". The main causes of poverty are lack of access to stable work and adequate income, low levels of education, lack of affordable housing, poor health, and insufficient community services. Reducing poverty will require a national anti-poverty plan, increasing social security payments and minimum wages, improving access to housing and essential services.
The Hidden Unemployed In Australia
This document discusses changes to the Australian workforce over the 20th century and implications for unemployment rates. Key points:
- The workforce has shifted from predominantly male manual labour to one where both women and men can perform most jobs equally. This gender shift was the most significant change.
- As physical strength became less important, more jobs could be performed by women as well as men. However, commentators are still surprised by declining male participation rates.
- Unemployment statistics do not capture the full extent of unemployment, which some estimates put at over 1.5 million Australians who are unemployed or underemployed. The participation rate also influences unemployment rates.
- There are different types of unemployment including
IEU Equal Pay Day 4 September
The days from the end of the financial year to September 4, 2015, represent the extra days on average it takes women to earn the same wage as men.
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Wage Differentials
- 1. Wage Differentials Differences in wages arising between individuals, occupations, industries, firms and regions.
- 3. Demand & Supply for skilled and unskilled professions Wage Rate Quantity of workers Skilled workers Unskilled workers Skilled workers tend to have lower supply and are harder to replace with other factors such as machinery. This results in higher wages. Unskilled workers are more available resulting in greater supply and therefore lower wage. The amount of training required for a profession like this is limited. WS WU QS QU
- 6. MRP 1 MRP 2 (discrimination) W1 W2 Q1 Q2 Sex discrimination in the labour market Many employers feel the MRP of females is lower than it should be as they may take maternity leave. Wage Rate Quantity of workers