Contents

• Executive summary
• Globalization & its ripple effect
• Labour Market
• Globalization and its impact on the trend of the labour market across nations
• Conclusion
• List of Reference

Description

Globalization has created many ripple effects, into various industries, facets of human lives, various functions of economical growth both at a macro and micro level etc., and the influence has shifted or modified a lot of elements in our society. Deregulation and decentralization of the Labour Market is one of the biggest effect globalization has made upon, ever in the socio-economic history of the globe. The world is typically divided into two types of nations. One is called Developing and the other Developed or Advanced. A developed nation is described as countries with high degree of socio-economic development as per some criteria. These criteria keep on changing however, some basic demographic remains that per capita income of a nation and consumer purchasing power also, real time cost inflation depicts the definition of a developed nation. The criterion like Gross Domestic Product (GDP), industrialization, Human Development Index etc., stamps a nation towards its global status. Any nation, falling below the fifty percent mark of economic development are called Developing nation.
Developing and developed nation, together contributes towards a larger global growth and they are all inter connected. The entire market where all transactions are happening and liquidity is flowing to determine these factors consists of both tangible and intangible product lines. Although these product offerings are driving the entire market from a materialistic point of view, however, it is human development or manpower which is a significant and un-avoidable factor in market today. Without human intervention a tangible or intangible does not even make a move and hence it is human development or labour market that has significantly changed due to globalization and in this essay we have evaluated to take a little deeper view of the matter.