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There are also factors that affect the price of labor for example larger supplies of labor, lower demand for labor, lack of labor unions and lack of governmental rules & regulation.
Labor Quantity
The same factors that affect the quality of labor also affect the quality of labor. Factors such as capability, creativity, managerial skills, knowledge, ability to learn new things and adaptability to changing environment must be considered while hiring candidates.
Labor Mobility
Labor mobility “consists of changes in the location of workers both across physical space
(geographic mobility) and across a set of jobs (occupational mobility)...
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