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25 Cards in this Set

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  • Back
  • 3rd side (hint)
What is a Labor Force?
All nonmilitary people who are employed or unemployed.
composed of people 16>yr.old, who worked for at least 1 hr. per week, 15> hrs. w/o pay for family business (farm), & held jobs but didn't work due to illnesses, vacations, labor disputes, or bad weather.
What is the Learning Effect?
The theory that education increases productivity and results in higher wages.
Statistically-based theory that shows college-educated workers typically earn more than high-school dropouts.
What is the Screening Effect?
The theory that the completion of college indicates to employers that a job applicant is intelligent and hardworking.
Skills & determination necessary to complete college my be useful qualities to employees in selling their skills to employers.
What is Contingent Employment?
A temporary or part-time job.
Placed through temp agencies or employed by firms as contract workers.
What is Productivity?
The value of output.
Pay/salary determined by the revenue your skills generate for a firm.
What is Equilibrium Wage?
The wage rate that produces neither an excess supply of workers nor an excess demand for workers in the labor market.
graphed by the intersection of the supply & demand curves
What is Unskilled Labor?
Labor that requires no specialized skills, education, or training.
Usually earn hourly wages & include dishwashers, messengers, janitors, & factory/farm workers.
What is Semi-Skilled Labor?
Labor that requires minimal specialized skills and education.
Usually earn hourly wages, & include lifeguards, short order cooks, word processors, & construction workers.
What is Skilled Labor?
Labor that requires specialized skills and training.
Need little supervision, earn hourly wages not a salary, operate complicated equipment (i.e., auto mechanics, bank tellers, plumbers, firefighters, chefs, & carpenters.)
What is Professional Labor?
Labor requiring advanced skills and education.
White-collar workers who earn a salary, include managers, teachers, bankers, doctors, actors, professional atheletes, & computer programmers.
What is a Glass Ceiling?
An unofficial, invisible barrier that prevents women and minorities from advancing in businesses dominated by white men.
Men dominate the higher managerial positions in some companies causing women & miniorites to advance in their career ladder.
What is a Labor Union?
An organization of workers that tries to improve working conditions, wages, and benefits for its members.
Its key goal is to get wage increases for its members. Ex. 2002 union wage = 740$ vs. $587 per wk. for nonunion workers.
What is Featherbedding?
The practice of negotiating labor contracts that keep unnecessary workers on a company's payroll.
This practice causes nonunion worker wages to fall
ex. railroad worker earnings for caboosemen.
What is a Strike?
An organized work stoppage intended to force an employer to address union demands.
Courts initially regarded Unions as illegal until Samuel Gompers a cigarmaker used this method to seek reforms of higher wages, shorter hours & safer work environment.
What is a Right-to-Work Law?
A measure that bans mandatory union membership.
Litigation passed after the Taft-Hartley Act in 1947.
What is a Blue-Collar Worker?
Someone who works in an industrial job, often in manufacturing and who receives wages
These jobs are currently declining in the U.S. causing labor unions to disappear.
What is a White-Collar Worker?
Someone in a professional or clerical job who usually earns a salary.
These jobs are increasing due to jobs in high technology companies.
What is Collective Bargaining?
The process in which union and company representatives meet to negotiate a new labor contract.
Goals for union negotiations include: wages & benefits, working conditions, and job security.
What is Mediation?
A settlement technique in which a neutral mediator meets with each side to try to find a solution that both sides will accept.
Helps each side understand the other's concerns, leading to an agreement.
What is Arbitration?
A settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides.
This process follows collective bargaining & mediation in solving labor disputes.
the price that businesses pay workers in exchange for their labor
those nonmilitary people, 16 yrs. or older who are either employed or looking for work
Labor Force
an electronic machine that is programmed to do tasks on an assembly line
the use of machinery, often computerized, in place of human labor
the lowest hourly amount of money that a business can legally pay its workers; ex. , a price floor
Minimum Wage