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Following on from his article in the January 2003 issue of Economics Today, in which he examined the aggregate labour supply, Dr John Richards of Tonbridge School, now looks at the influences upon the supply of labour to particular occupations and by individuals.
Summary of Key Points
* Occupational labour supply depends upon pecuniary and non-pecuniary factors.
* The elasticity of supply of labour will depend largely on length of training periods, qualifications required and the mobility of labour.
* The length of the working week will have a major impact on the supply of labour.
* The trade-off between work and leisure will also affect hours worked.
* The French experience suggests that a shorter working week may actually improve productivity.
PDF format: 5 A4 pages. First published in Economics Today magazine March 2003.
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