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Some Aspects of the Problem of Guaranteed Wages and Employment*
Published online by Cambridge University Press: 07 November 2014
Extract
The Need for Income and Employment Security. In modern times insecurity of income has been the lot of many workers in most countries. This income insecurity is the result of the effects of seasonal variations, cyclical fluctuations, secular changes, and random fluctuations upon production in individual plants and businesses. Production in industries such as meat packing, fruit canning, or clothing manufacturing is typically seasonal because of the nature of their raw materials, or of the demand for their products. Cyclical fluctuations in economic activity affect the economy as a whole but hit particularly severely durable goods industries such as the building and construction industry, or the automobile industry. Further, the economy is subject to secular changes owing to such causes as changes in the size and age structure of the population, technological advance, or changes in the buying habits of consumers. In addition, economic phenomena exhibit chance or random fluctuations.
The security of income and employment of the working population is affected by all these different types of economic variations but it is with cyclical and seasonal unemployment that we are concerned chiefly here. It is difficult to determine whether a worker is suffering as a result of either cyclical or seasonal unemployment as there is generally a combination of both in most industries. In many cases, however, unemployment is markedly cyclical or seasonal in character although it is little consolation to the worker to know the kind of unemployment of which he is the victim.
- Type
- Research Article
- Information
- Canadian Journal of Economics and Political Science/Revue canadienne de economiques et science politique , Volume 13 , Issue 4 , November 1947 , pp. 545 - 562
- Copyright
- Copyright © Canadian Political Science Association 1947
Footnotes
This paper was presented at the annual meeting of the Canadian Political Science Association in Quebec, May 30, 1947.
References
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