Labour force

If we consider firms as a whole, their only external purchase is labour force. All other exchanges being internal transactions, no further monetary payment is required. Only at the end of the production process firms buy capital goods to be used in the following period. 

Domar assumes at the outset that there is full capacity utilization, and moreover that the fraction of labour force employed is a function of the ratio between national income and productive capacity (ibid. 37). Since the supply side models the economy s capacity to produce output, full employment of the labour force requires that the potential change of output is equal to the change in output demanded via the multiplier. Hence, the full employment balanced rate of growth can be established by setting... 

P.E. Dewey, Military recruiting and the British labour force during the First World War , Historical Journal, 27 (1984), 199-223, at 204. 

Improve the user s productivity by concentrating labour force in the core business of the company. 

ROiC-WACC)/WACC Source OECD (Labour Force Statistics 1998 edition, March 1999), McKinsey anaiysis... 

In the industrialised countries like those of Western Europe, where these developments are especially strong, a number of key advantages were associated with the new forms of agriculture. Labour and soil productivity increased and food became abundant and cheap for the consumer. Tlie labour force that left agriculture could be productive in other areas of society and thus increase total wealth. 

But totals mask underlying important changes between and within benefit schemes. Besides the above changes, Table 19 shows how the number of sickness beneficiaries has gone up from 38,000 persons in 1993 to 69,000 persons in 2005, reflecting not only that the labour force has grown but also that this growth is in part made up by people who are more frail and thus more likely to become sick and reliant on sickness benefits than the people in the previous labour force. In other words, to achieve a successful increase in the employment rate, one must accept that sickness absenteeism is also likely to increase. 

The active labour market policy is designed to get unemployed into jobs, but the policy also shows a lot of effects upon the employed and non-employed outside the labour force and thus on the economy as a whole. 

In 2005 there were approximately 123,000 participants per month in the governmental repertoire of ALMP programmes (AMS 2006). This is 2.7% of the total Swedish labour force and approximately one third of the unemployed. 

Secondly, the persistent high levels of unemployment that characterised Britain in the 1980s and early 1990s have been replaced by low levels of unemployment and high levels of labour force participation. Credit for the success of the British strategy has been attributed to labour market flexibility and adept macro economic management. This chapter more narrowly considers the particular contribution made by activation and redistribution through the tax and benefit system. 

Layard and Calmfors (1987) argued the non-accelerating inflation rate of unemployment (NAIRU) was about 5%. More recently, Federal Reserve Chairman Greenspan suggested, by his actions, that the NAIRU was below 4.5% of the labour force. 

Unemployment insurance (UI) in the United States is social insurance. It encompasses a blend of principles drawn from private insurance and social welfare. It aims to prevent descent into poverty, not to insure against all wage loss. UI pays benefits to involuntarily unemployed job seekers with sufficient prior earnings who are actively engaged in re-employment efforts. The maximum potential duration of benefits is about half a year, and there is no secondary programme of cash assistance for labour force members who exhaust their UI entitlement. To assure that only insurable joblessness is compensated, there are strict rules governing job separation and continuing unemployment. 

According to the Federal State Extended Benefits Act (FSEBA) of 1970 (P.L. 91-373), extended benefits are paid for up to 13 additional weeks to so-called exhaustees - unemployed individuals who have exhausted their regular benefit entitlement under a state UI law - with a strong prior attachment to the labour force.90 The extended benefit periods, in which FSEB are payable, are activated and inactivated by automatic triggers (20 CFR 615.12). 

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