Labor Market Trends

Most of the economic analysts argue that movement of the jade commercialize post be characterized as a driving one, bastardlying on a constant change, and its dynamism can be attributed to the changing economic performance of the merchandise and somewhat some other factors that imposes an assemble to the hollow market. During the time when the economy is in good or noxious condition, the style of the labor market is very different on each scenario.By understanding the trend of the labor force would mean, for the policy makers, having the substance of predict the take aim and skills of the labor force that will be operational in the economy and on how they will utilize its weigh to present through the societal goal as a whole. An economy having a redundance or a deficit of laborers would genuinely bring be and benefits. This is the fence why the labor market trends should be monitored form time to time. Factors modify the labor market pattern should similar ly be considered. Technology, politics policy and the like must in addition be included into attention for it imposes all direct and/or indirect effects to the labor market trends.In the technological world that we argon now living, it is ordinary for the economy to gather up for new skills, job opportunities and new line of labor in disposition to suffice the need of the modern kind of living. With the complexity of the economy as time goes by, the policy makers has to monitor the indigence and supply of low arch(prenominal) and high handy relieve oneselfers to protect the offbeat of the majority while maximizing the profitability of the economy as a whole.As for the companies that plan to ask workers, it is necessary for them to understand the trend in the labor market for them to curb the level of education the available worker has and to roofy their standards based from the apt(p) information (Marcotte, 1991).This paper aims to discuss the current labor trend such( prenominal) as the trends for new jobs and its relationship to career development by relating an name about labor market trend to the existing one.Labor trade TrendEmployment rate, employ rate, maturement rate of the industries and the required level of education for an individual to ache a work are provided a few of the factors that should be considered in identifying the current trend in the labor market. According to the article of Fix, he talked about the reason of the change magnitude in the charter for the laborers in the late 1990s due to the sustainable growth in the US and globalization in the economy that tied(p) the low accomplished workers and single mothers are hired to suffice the demand for the laborers. With this we can see that economic forces affect the trend in the labor market.The higher(prenominal) the investments in economy, the coarseer the number of possible job hazard for that certain employment line. One example to this is the current high deman d of the nurses in many parts of the world, because of this most of the undergraduate students tend to bring nursing in order to take a crap a better career, get a better salary and so forth. It is understood that if a certain job line is in demand, there would be always a high wage rate, lot of benefits and nice employment terms and agreement. This is what has been the sort of the students when choosing their undergraduate courses (Amirault, 1990).Government policies also play a vital employment in affecting the trend in the labor market. Those job lines that have greater benefits compared to the others as mandated by the law would surely gain higher demand from the laborers (International-Labour-Organization, 2000). The government must also monitor their minimum wage rate to prevent their workers to migrate abroad. Migration of the skilled workers would greatly affect the economic performance of the country for it makes the country to have fewer workers in execute various eco nomic roles. Wage rate must be set in balance in order to attract the workers to stay and work in the domestic market (Fix, 2002).The booming of a certain labor would also affect the current trend in the labor market for it attracts laborers to apply into that industry (Fix, 2002). One example into this is the impressive growth of the cellular phone industry in the south-east Asia and because of this, the tendency of the labor family is to have a vocational course on electronics since there is a great demand for the said line of job. Cellular phone technicians also became in demand in the economy.Effects of the Globalization to Labor marketplace TrendGlobalization has already been attributed to various negative effects that authentic countries now experiencing. One of the main arguments of the analysts is that under globalization, multinational corporations are exporting laborers from the developed to developing countries through the aid of the foreign direct investments (Inter national-Labour-Organization, 2000). When a certain corporation made its investment abroad, it brings with them some of the top skilled workers to supervise the operation of the new company branch in another(prenominal) country.In this case, all the skills of the imported laborers will benefit the country where the capitals are invested. And not only that, the host country could also benefit from the additive job opportunity that the company will offer to the labor market. chthonian the trade liberalization, the government is giving the consumers pieces of advice to prefer more(prenominal) the goods produced from abroad than with the locally produced one (International-Labour-Organization, 2000).With this, the local industry will find it hard to vie with the imported goods in terms of price and quality, therefore, harming the laborer since there is a possibility for them to be laid off to cut production costs on the part of the local industry. The increasing use of machineries and other in advance(p) technological process to speed up the production made some laborers to loose their jobs since company owners prefer the most the machineries over the human labor for the former is more effective and efficient in working.Industries became more and more independent to technology in making their products produce faster and of great volume according to the International Labour Organization. It is therefore crucial for the government to regulate and protect the welfare of those laborers that might get harmed by their actions. destructionBased from the above statements and facts, we can clearly see that economic growth imposes negative effects to the trend in the labor market. The importation of the skilled workers leaves the importing country with less competitive laborers while letting the other countries to gain the benefits that are supposedly for the economy of the host country and the resource of the imported goods than with the locally produced, harms not only the industry but also the laborers, for they could suffer from a decrease in their salary, or worse, loss their jobs.The behavior of the students in choosing a course also affects the future trend in the labor market. The number of demands for every job line serves as an charity to the students. This would later on makes the supply of laborers on other job lines to bow down. The imbalance in the supply of the laborers in the economy could cause market turmoil and this should be prevented by the government to happen. The wage rate of the laborers in particular the low profiled one must be monitored and evaluated often to ensure the welfare of those who are in need.As we all know, they compose the majority of the number of available workers in the market and by protecting their welfare would mean preserving the good working relationship of the workers and the market. Today labor unions play and have power to fight for the stake of the laborers in the economy and having trouble with them can greatly affect the economic performance of the country. A day portion demonstrations and strikes of the laborers could cause the loss of millions of dollars in terms of production of nay industry.The splendor of understanding the trend in the labor market would really financial aid every sector in the economy.REFERENCESAmirault, T. A. (1990). Labor market trends for new college graduates Electronic Version. Retrieved June 15, 2007 from http//findarticles.com/p/articles/mi_m1155/is_n3_v34/ai_9325762.Fix, D. S. N. a. M. (2002). Economic and Labor Market Trends Electronic Version. Retrieved June 15, 2007.International-Labour-Organization. (2000). Labour Market Trends and Globalizations Impact on Them Electronic Version. Retrieved June 15, 2007 from http//www.itcilo.it/actrav/actrav-english/telearn/global/ilo/seura/mains.htm.Marcotte, D. E. (1991). Learning in the Labor Market The Changing magnificence of Education and Training After Formal Schooling Ends Electronic V ersion. Retrieved June 15, 2007 from http//ncrve.berkeley.edu/Summaries/1275sum.html.