employment

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employment

the use of LABOUR and CAPITAL to produce goods and services. See LABOUR FORCE, CAPITAL STOCK.

employment

  1. 1micro-context - the use of LABOUR as a FACTOR OF PRODUCTION;
  2. macro-context - the aggregate number of persons in work in the economy as a constituent of the LABOUR FORCE. The size and quality of the labour force is a crucial determinant of the economy's capacity to provide output (see AGGREGATE SUPPLY) and achieve ECONOMIC GROWTH over time.
References in periodicals archive ?
Many Contract Labour Agencies are highly reputable organisations, but in some parts of the world and in some value chains, practices are not as ethical as many global businesses might require.
Instead of resolving the issue amicably, management is misusing apprentices to make them work and has hired contract labour to do our job, which is skilled and involves stringent processes to ensure quality," said Prasanna Kumar, President of the Toyota Workers' Union, in the report.
Port chief executive Martin Lawlor said: "We are pleased to have concluded this agreement, which will see the port working more closely than ever before with a contract labour supplier, no doubt providing an enhanced quality of service to all our customers.
Although production is still increasing, we are meeting the challenges and have reduced need for contract labour.
ER: How will you comment on contract labour system?
However, in view of the growing incidence of globalization a major reason for employment of contract labour is its contribution to the economic and financial feasibility of the establishment.
The changes come as the contract labour industry begins to adapt to new demands from its clients.
The contract labour is a bonafide media of providing employment opportunities to unemployed workforce besides being to the employers a universal source of getting efficient and productive workforce at competitive cost.
Tenders are invited for Supply of contract labour in engineering section tiruvuru nagarpanchayat
The service provider should strictly abide by the provisions of various Acts of the State in force, in connection with the employment of the contract Labour viz, Contract Labour R&A Act 1970, Workmen Compensation Act, EPF Act, ESI schemes and any other regulation covered under Labour Act.