Global Labor Market

What is a global labor market? First, we should define the meaning of a labor market. A labor market is the relationship of communication between the suppliers and the demanders so that they are able to do business together. The global aspect of the labor market refers to the world and all that contribute within this measure, also known as globalization.

Globalization is the process of integrating regions through societies, political systems, economies, and culture to share ideas between the countries. What is better than that? You can learn and use ideas and customs from other countries and this process profits all that take part in it. Culturally, this is beneficial because we are learning from other countries and bridging the gap between countries. All around, globalization is a positive action because we can learn from each other and better our countries with other ideas and in turn work for the good of the whole world.

On the contrary, some believe that globalization only creates clash within a province. With jobs being scarce in more developed countries because of the crisis, jobs being filled by immigrants could have a negative effect on the people of a country and with most immigrants moving to a region with a higher labor market and better chance of earning a better wage for their families, in turn these countries are homes for most of the migrants in the world.

Potentially, it could give people the impression that immigrants are a negative thing. Some think that too much globalizing could give corporations too much power in the long run because they would be trusted with too much.

With the good intentions of this global labor market idea of globalization, I believe with a checks and balance type of system we could make it work.

Sources:

http://www.gcim.org/attachements/TP1.pdf

http://www.buzzle.com/articles/pros-and-cons-of-globalization.html

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3 thoughts on “Global Labor Market

  1. Under a narrow, economic definition labour market is described as the locus in which workers compete for jobs and employees compete for workers. From a similar viewpoint, labour force can be defined as the number of people employed plus the number of unemployed looking for a job. Under this perspective it is, indeed, difficult to conceive how labour markets could ever become really global, with workers around the globe competing with each other for the same jobs. This could only happen if we broaden the definition of labour market by introducing other dimensions rather than just the geographical locus. Such components could very well include professional occupations, skilled labour and immigration or import of labour force.

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  2. I agree that in real life globalization is mostly not merging of different cultures, their traditions and changing with experience, but simply labor force drain to more developed countries with higher level of life. This process is unstoppable, so the smartest thing to do is to accept it and deal with it appropriately.

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  3. Base from my own understanding: Global Labor Market may refer to different pool of labor force competing from its different labor perspective towards industry needs.
    So i agree that it is not merging of cultures but merging of different knowledge, attitude, skills and habits (KASH) that greatly affect the industry

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