Study of the various institutional structures in the labor market, such as unions, minimum wage laws, and unemployment insurance, and how they affect employment and wages.
Labor supply: The amount and type of labor available in a particular labor market.
Labor demand: The amount and type of work that employers are seeking to hire in a particular labor market.
Labor market equilibrium: The point at which the supply of labor matches the demand for labor in a particular labor market.
Wage determination: The process by which wages are determined in a particular labor market, including the role of collective bargaining, minimum wage laws, and other factors.
Human capital: The skills, knowledge, and experience that workers bring to the labor market.
Discrimination: The unequal treatment of workers based on their race, gender, age, or other characteristics, and its effects on labor market outcomes.
Labor unions: Organizations that represent workers and negotiate with employers over wages, benefits, and working conditions.
Labor market policies: Government policies that affect the functioning of labor markets, including unemployment insurance, training programs, and labor market regulations.
Inequality: The distribution of wages and other rewards in a labor market, and its effects on workers and society as a whole.
International labor markets: The interaction of labor markets across national borders, including migration, outsourcing, and trade.
Minimum wage laws: It is a law that sets a minimum hourly wage rate that an employer must pay to their employees.
Unemployment insurance: A program that provides temporary financial assistance to those who have lost their jobs through no fault of their own.
Payroll taxes: A tax that is levied on wages and salaries paid to employees, to fund social security, Medicare and other government programs.
Labor unions: An organization that represents a group of workers and negotiates with employers on their behalf for better wages, benefits, and working conditions.
Collective bargaining agreements: An agreement between labor unions and employers that sets the terms and conditions of employment.
Workplace safety standards: Standards that help to ensure the safety and health of workers in the workplace.
Employment protection laws: Laws that provide legal protection to employees against wrongful dismissal, discrimination, harassment, and other forms of mistreatment.
Pension systems: A retirement plan that provides employees with a retirement income based on their years of service and earnings.
Training programs: Programs that provide employees with the necessary skills and knowledge to perform their job duties.
Workforce development programs: Programs that provide assistance to workers who need to retrain or upgrade their skills for a new job or industry.
Job placement services: Services that help individuals find appropriate job opportunities based on their skills and interests.
Temporary work agencies: Agencies that provide temporary workers to employers who need short-term help.
Immigration policies: Policies that regulate the migration of workers from other countries into a country's labor market.
Occupational licensing: A system that requires workers in certain occupations to obtain a license or certification before they can work.
Civil rights laws: Laws that prohibit discrimination based on race, gender, religion, age, and other factors in the workplace.
Enterprise-level agreements: An agreement between an employer and employees at a specific company that sets the terms and conditions of employment for that company.
Public sector collective bargaining: Collective bargaining between public sector workers and government employers.
Labor market intermediaries: Intermediaries that help to match workers with available job opportunities.