Week Eight Threaded Discussion

Running head : WEEK EIGHT[Author s Name][Tutor s Name][Class]AbstractOfficial statistics provides sufficient information close the plight levels crossways different industries and economic sectors . The major(ip) scruple is what drives betroths ? Wages may be set by ace or several factors : compensating differentials , human roof , subjective abilities or the sorcerer phenomenonOfficial statistics provides sufficient information about the net profit levels across different industries and economic sectors . Apart from revealing a medium-large wage gap between certain groups of professions , the statistical search suggests that the reasons and implications of these wage differences should be studied in more than detailThe wet annual wage in management sector do non exceed 97 ,000 business and monetary professionals any stratum earn 62 ,410 in average calculating mould and mathematical science production lines seem to do break in than those in financial bea with 72 ,190 per year , temporary hookup engineer occupations do not bring more than 68 ,800 annually . Average earnings in community and affable function area are 40 ,540 in licit occupations - 88 ,450 in arts , design and entertainment - 48 ,410 . victuals preparations and serving cerebrate occupations are ranked the net and did not exceed 19 ,440 in 2007 (Bureau of Labor Statistics , 2008 . The major interrogative sentence is what drives wagesThere is no single answer to that . From the classic viewpoint , the bare(a) product for grate usually equals the wage s join for every provideitional worker . Furthermore , depending on the detail occupation and profession , wages may be compulsive by one or several factors : compensating differentials , human capital , inhering abilities , or the superstar phenomenon . Com pensating differentials arise from nonmoneta! ry characteristics of a job (for congresswoman , emergency rescue employees should be compensated for bump .

tillage can determine the quality of human capital and start up low-ability from high-ability workers (the wages in food preparations and servicing domains are the lowest , due to the fact that they are not related to risk (compensating differentials nor require higher education (human capital or lifelike ability Superstars are traditionally formed in the markets where the customers need to be supplied by the best producer and at a relatively low cost We see that wages in computer technology professio ns are definitely driven by superstar phenomenon , where one supplier tries to satisfy all customers , and where the wage depends on one s ability to support the keep company s superstar image . The level of wages is usually heady by supply and demand of labor in particularised labor markets however , the discussed factors substantially change the situation , and add to the always changing economic situation in the field and foreign workforce marketsReferencesBureau of Labor Statistics (2008 . Occupational employment and wage estimates . RetrievedJuly 26 , 2008 from HYPERLINK http /www .bls .gov /oes /oes_data .htm http /www .bls .gov /oes /oes_data .htmPAGEPAGE 4 hebdomad Eight...If you penury to get a full essay, order it on our website: OrderCustomPaper.com

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