Answer to Question #237864 in Marketing for saleemaslam

Question

As a student, what are those factors that determine the number of labour hours that you will supply to a firm? How does your labour force participation or otherwise impact the Canadian economy? 

Please relate this to your personal experience in the labour market. 

Word limit: 150 words

Answer 1

Diverse standards for working hours ought to be acceptable for different firms and types of work that I will assume in firms due to regulations. Overtime hours should be regarded as a student if you work more than the standard hours. The overtime pay ought to be one point five times the ordinary hourly wage. Notably, maximum hours ought to be set by the firm. Overtime pay ought to be offered for hours worked over the actual hours. Diminished labor force participation rates will lead to lower GDO and tax revenues. Besides, it will lead to lower government expenditure due to particular federal benefits-based programs if one is not working. Canada can no longer rely on labor force expansions to compensate for its recent lack of productivity and investment. Therefore, the challenges of diminishing government deficits would be worsened if economic growth showed.