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SUPPLY OF LABOUR — Economics Keypoint

SUPPLY OF LABOUR

SUPPLY OF LABOUR: This is the total number of people available for employment or the total number of hours worked.

FACTORS AFFECTING SUPPLY OF LABOUR

1. High or low wage rate.
2. The growth rate of the total population (Birth/death rate).
3 The extent to which the supply of labour is occupationally specific.
4. Political powers and instability.
5 The working environment and other benefits.
6. The retirement age of people in service,
7. The number of hours worked and the workers attitude.
9 The health conditions of the workers.

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