Urban Labour Markt

CONSTRUCTION LABOUR MARKET
AKSHAYA .P
DINESH .G.S
GOKULAKRISHNAN.G
Definition of Labour market?
 A labour market is the place where workers

and employees interact with each other. In the
labour market, employers complete to hire the
best, and the workers compete for the best
satisfying job.
DESCRIPTION :
A labour market in an economy functions with
demand and supply of labours. In this market,
labour demand is the firm’s demand for labour
and supply is the workers supply of labour.
The supply and demand of labour in the market is
influenced by changes in the bargaining power.
Components of the Labour market
four components:
 The labour force population
 Applicant population
 Applicant pool
 The individuals selected
1. Labor force population
 The labor force population or labor force participation refers to the
number of individuals who are available to work in a labor market. It
considers all workers who are offering their skills and services for
employment regardless of the industry they are in.
2. Applicant population
 The second component is the applicant population which refers to the
people who are applying for a particular job that suits their expertise and
skills. Recruiters take a look first at the labor market and then look next
for individuals who meet the skills and qualifications that are set for a
particular job. For example, the people who are looking for IT, graphics
design, and similar jobs belong to the same applicant population which is
targeted by recruiters who are looking for this type of professional.
 3. Applicant pool
 The third component is the applicant pool, which is the actual number of
people who initially signified their interest to apply for a particular job by
sending in their resume. It may very well be considered the first part of the
selection process where the recruitment department of a specific
organization receives applications and screens them to determine who
advances to the next round of screening.

 4. Individuals selected
 The fourth component is the individuals selected, which simply means the
individual or individuals who’ve made it through the screening process and
have been hired for the job. Of course, this is judged based on a number of
factors, and the person is screened against a carefully determined set of
qualifications.
labor market analysis involves the following
processes:
 Identifying the various labor markets for a given

type of position. It involves looking at the
appropriate labor market based on a specific position.
 Checking the market for salaries for a common
position. The process involves checking similar
positions in the labor market in order to determine if
an organization’s salary rates are at about the same
level.
 Determining market trends. This step answers questions
as to how other organizations are compensating their
workers, including their pay practices.
 Adjusting salary packages or structure of positions.
After checking the salary rates of other organizations and
finding out if there is any need for adjustments, the
department then makes recommendations for such
adjustments and restructuring of positions in the company.
 Making consultations with management. This process
involves sitting down with management to determine their
workforce needs.
Salient features of labour market
 Realtionships
 Terms and condition
 Local character
 Low rate of mobilitiy
 Imperfect market
 Wage differential
 Unemployment
 Casual labour
The different Characteristics of labour markets are as follows:
 A commodity market refers to a physical place where

buyers and sellers of a particular commodity gather
for engaging in transactions while a labour market is
viewed as a process by which supplies of a particular
type of labour and demands for that type of labour
are balanced, is an abstraction.
 Secondly, unlike a commodity market, the
relationship between a seller and a buyer in a labour
market is not temporary and as such personal factors,
which can be ignored in a commodity market, become
important in a labour market.
 Thirdly, unlike a commodity market, in a labour market
there is a lack of perfect mobility which gives rise to a
diversity of wage rates for the same type of work and we
do not find a normal wage rate to which the market rate
naturally tends. In other words, labour market is
essentially an imperfect market.
 Fourthly, wage fixing is an essential characteristic of the
labour market, where (in the absence of unions) the
buyer of labour normally sets the price but in the
commodity market, it is normally the seller who sets the
price.
Types of labour market
 Organised labour market.
 Unorganised labour market.
ORGANISED LABOUR MARKET:

 Indian economy system has been based on the mixed economy
pattern.
 The public sector play a dominant role. Governmnet issued different
policies for technology and industry time to time . thus the employment
generation was the main objective of government in both public and
private sector.
UNORGANIZED LABOUR MARKET:
 Normally do not design the job or plan for man power.demand for supply
of labour is mostly balanced through casual or contract labour. they do
not have trade union.
THANKYOU

Urban Labour Markt

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CONSTRUCTION LABOUR MARKET

 A labour market is the place where workers

 Identifying the various labor markets for a given

 A commodity market refers to a physical place where

ORGANISED LABOUR MARKET:

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