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Topics

Labour supply (to an industry / occupation)

The labour supply is the number of hours that people are willing and able to supply at a given wage rate. The labour supply curve for any industry or occupation will be upward sloping. As wages rise, other workers enter this industry attracted by the incentive of higher pay.

The supply of labour to a particular occupation is the amount of hours individuals are willing and able to supply to a particular industry. This can be influenced by variables such as the wage rate offered, the status associated with the job, the ease of training and qualifying and the conditions of work thereafter.

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