Workforce Economics

Workforce economics is the study of how labor markets function and how the supply and demand for workers affect wages, employment, and economic activity. It examines factors such as skills, education, and demographic trends that influence worker availability and productivity. By analyzing these elements, workforce economics helps businesses and governments make informed decisions about hiring, training, and policies to improve job opportunities. Understanding workforce economics is essential for addressing issues like unemployment and ensuring that the workforce meets the needs of the economy.