Question

List the five factors that affect the labor market

Answer 1

The five factors that affect the labor market are: social change, population shifts, world events, government actions, and the economy.

Step-by-step explanation:

"possible answer" for the test

Answer 2

Five major factors that would affect labor markets include: discrimination, unions, unemployment, and income inquality. All of these factors can affect the labor market because they are all subject to how the market holds up and what is needed to keep their employers wanted/happy. Discrimination can affect a labor market if they do not treat their employees with respect and fairly. If a group of union workers were to go on strike the labor market may come to a stand still if projects can not be completed due to them not working. Unemployment makes it difficult for companies to keep up with their work, if there are too many people unemployed it may affect the money that is being generated to put back into the economy. Income inequality is another issue that greatly affects a labor market. If there are many people doing the same job but being paid differently, overtime, they are likely going to have issues if they find out they make different incomes for the same labor.