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Essay / Research Paper Abstract
This 3 page paper discusses the proposition that the concept of the internal labour market in the UK represents a fundamental challenge to the orthodox view that competitive rules are pre-eminent in the operation of labour markets. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEintlab.rtf
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Unformatted sample text from the term paper:
labour markets. The way that labour has been recruited and retained in the past has been with respect to the level
of competition in the market. Where there is high unemployment and a surplus of workers pay rates have fallen, and where there are shortages and insufficient employees to fill available
job wages will rise. This has been seen very clearly in IT markets where the former shortages of some jobs inflated waste, but as new graduates came into the labour
market and as technology developed and fewer individuals were needed the position changed and many IT workers found they were surplus to requirements and took jobs at lower wages. This
is the operation of the external market. The potential source to fill labour position is wide, and as such more prone to the laws of supply and demand. However, there
are some elements that prevent the fulfilment of supply and demand leading to the ultimate position of full employment, as is believed by classical economists. The aspect of minimum acceptable
wages and also the aspect of sticky wages as identified by Keynes. The internal market is a different structure of labour, but does have do some similarities, however
it appears to depart from the central market in behaviour characteristics. The key characteristics are the limited access of the external market to the market where labour is being traded,
this usually reduces the access to that market to external actors. The use of internal staff is more prevalent in term of promotion, there are often specifically in house training
schemes, where jobs will be specific to that organisation. The aim is often to enough long term employment, following investment in the employee by the employer. This is why the
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