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Labor Market Trends – US vs. Europe


Course#: 84
Category: Salary Administration
Field of Study: Economics
Audience: HR Managers, HR Generalists
Level of Difficulty: Intermediate
Delivery Method: QAS Self Study
Prerequisites: Some college level courses with moderate algebraic training
Advanced Preparation: None
Overview:
During an economic recession real wages drop whereas during inflation, real wages increase. Real wages are nominal wages adjusted for inflation and affect the amount of goods and services that can be bought. This course focuses on pay and the employer and employee economic exchange in the context of labor markets. We will look at the factors that have determined labor market trends, including: supply, demand, advancements in technology, labor market institutions (e.g. unions and government regulations), and globalization of trade leading to offshore outsourcing. The terms wages, salary, or pay may be used interchangeably in this course referring to the compensation earned from employment. Then we'll review the labor market trends in Europe. The sources for Europe may reference income levels which includes all sources of compensation not just employment (e.g. investments etc.)
Learning Objectives:
  • Differentiate between pay differentials, inequality, and dispersion
  • Identify the impact of labor market institutions like unions and government legislation on labor markets
  • Recognize the conditions under which more education leads to higher salaries
  • Identify the effects of global trade, offshore outsourcing and immigration on employment and salary levels in the United States
  • Differentiate between labor market trends in the US and Europe
*The Course Credit List displays credits and credit types offered by location.

Course Price:  Free!
Exam Price:  $49.00


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