Domestic and International Labour market

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Meaning of labour market

Labour Market refers to Labour, people who are able to work & want jobs in a country/ area.

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Domestic labour Market

Its a labour market wherein employees belong to same nationality; or A labour market wherein workforce works for their own country.

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Labour Market in India

Consists of 430 million workers in Low level of open unemployment 2010-12 growing 2% annually, with a (3.1%) high level of disguised stable worker-population ratio (40%). unemployment, mostly in rural areas and in agriculture.

Low level of womens participation in workforce.

Child labor's share in workforce declining, but in absolute numbers still quite large.

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Labour market structure

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Threats to Indian Labour Market

Declining employment elasticity. declining agricultural growth Poor rural infrastructure Rapid Advancement in Technology Corruption (Scams like 2G spectrum, common wealth) Globalisation
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Weaknesses of Indian Labour Market

Lack of capital Infrastructures yet needs improvement In rural sectors Employment guarantee scheme hold promise, but faces political and bureaucratic resistance. declining agricultural growth Need to move towards income security, more rational labour laws, 4/6/12

International organizations types

International Corporation MNCs Global Corporation Transnational Corporation

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Reasons for Rapid Growth of International Labour Market

in no.s of global organisations and global competion To remove labor supply , funds, resources constraints To explore new markets

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Challenges In International labor market

Global Inflation Managing cross cultural diversity Political Concerns Disaster Management concerns

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Domestic Labour Market Labor belonging to same nationality Limited risks in domestic assignment Limited external factors to deal with
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International Labour Market Labor belonging to more than one nationality Greater exposure to risks Has to mange several external factors