Labour Supply All Company

ChildcareThe most common definition of labour market flexibility has been the neo-liberal definition. This entailed the ease of labour market institutions in enabling labour markets to reach a continuous equilibrium determined by the intersection of the demand and supply curve.[1] In the words of Siebert,[2] labour market institutions were seen to inhibit “the clearing functions of the market by weakening the demand for labor, making it less attractive to hire a worker by explicitly pushing up the wage costs or by introducing a negative shadow price for labor; by distorting the labor supply; and by impairing the equilibrating function of the market mechanism (for instance, by influencing bargaining behavior).”