labour
labourHuman beings as factors of production. The labour supply consists of all those able and willing to work, including the self-employed and unemployed as well as employed workers. Labour is very varied in its levels of skills and qualifications. Labour economics is the aspects of economics concerned with the supply and demand for labour. Organized labour refers to the role of trade unions in negotiating over wages, hours and working conditions, disciplinary procedures and redundancy, and in representing labour interests at the political level. See also direct labour, division of labour, organized labour, and sweated labour.
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