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Publication Detail
WP-2016-05: Responsiveness of Labor Market to Minimum Wage Adjustments: An Analysis Using Elasticity to Labor Supply and Demand

This paper intends to address is how employment, unemployment, and underemployment in the labor market, in terms of quantity, respond whenever there are wage adjustments. It should be put into mind that wages are considered cost for employers, while for workers these are funds to make their ends meet. Any adjustments made in the minimum wage, certainly, may influence employer’s hiring and firing decision, which eventually could affect labor demand and supply. With the ongoing discussions on matters pertaining to minimum wage, the intention of this study is to examine how the labor market act in response to wage adjustments, using employment and unemployment rates, and other pertinent data on labor and employment as measurement variables. This study could serve as a reference for policy discourse among decision-makers and members of the regional boards to aid them in their future legislations pertaining to wage and wage adjustments.

Department of Labor and Employment - Institute for Labor Studies
Authors Keywords
Villena, Ivan Cassidy F.; employment; labor market; wage; labor; unemployment; minimum wage; underemployment; labor supply; wage policy; labor demand; wage adjustments; employee; employers ;
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Published in 2016 and available for Downloaded 1 times since August 04, 2021
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