Question

Give an example of an event that could shift the demand for labor in a career field that interests you. In addition, given an example of an event that could shift the supply of labor in the same field. Are you aware of any real world events that have shifted the supply or demand of labor for this field recently or in the past?

Answer 1

Let us take the example of manufacturing sector . In this industrial manufacturing sector , demand for labour increases or shifts right if there is more investment . More investment means setting up of new factories of enlargement of production capacities of existing ones . That leads to requirement of more labour in this sector .

In the same sector supply of labour increases or shifts rightwards when there is growth in human capital . If training and education facilities at lower costs to people then the supply of labour increases .

In recent times due to growth of educational facilities in African countries supply of industrial labourers have increased , specially in food processing industries .