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Labour supply refers to the number of workers that are “willing” and able to work in a particular job or industry at a given wage rate.
This article discusses the factors that generally affect labour supply in a country.
The Determinant Factors for Labour Supply
The size of the working population
The working population of a country, also known as the labour force, refers to the number of people 15 years of age and above, who are willing (choose to work) and able to work.
According to the Fiji Bureau of Statistics (FBOS), Fiji’s population in 2014 was estimated at around 865,611 persons. Of this total, 367,154 persons (that is 42.4% of total population) make up Fiji’s labour force, with 344,302 persons working and 22,852 persons unemployed and actively looking for work (Figure 1.0).
The size of the working population depends on certain factors such as the retirement and school leaving ages, duration of studies at universities, birth and mortality rates and migration.
An increase in the size of a working population would translate to an increase in labour supply and vice versa. Read more…
