Week Eight Threaded Discussion

Running head : WEEK EIGHT[Author s Name][Tutor s Name][Class]AbstractOfficial statistics provides sufficient information approximately the betroth levels across different industries and economic fields . The major move is what drives profitss ? Wages may be driven by one or several factors : compensating differentials , human capital , immanent abilities or the booster phenomenonOfficial statistics provides sufficient information about the wage levels across different industries and economic sectors . Apart from revealing a large wage gap between certain groups of professions , the statistical research suggests that the reasons and implications of these wage differences should be studied in more detailThe mean annual wages in management sector do not exceed 97 ,000 business and monetary professionals per annum earn 62 ,410 in average reckoner and mathematical science origins seem to do better than those in financial area with 72 ,190 per year , while engineering science occupations do not bring more than 68 ,800 annually . Average earnings in community and social go area are 40 ,540 in legal occupations - 88 ,450 in arts , design and entertainment - 48 ,410 . regimen preparations and serving related occupations are ranked the low and did not exceed 19 ,440 in 2007 (Bureau of Labor Statistics , 2008 . The major header is what drives wagesThere is no single answer to that . From the neoclassical viewpoint , the borderline product for apprehend usually equals the wage s amount for every(prenominal) additional worker . Furthermore , depending on the specific occupation and profession , wages may be driven by one or several factors : compensating differentials , human capital , essential abilities , or the superstar phenomenon . Compensating differentials arise from nonmonetary characteristics of a job (for manikin , emergency rescue employees should be compensated for attempt .

precept can determine the quality of human capital and specialise low-ability from high-ability workers (the wages in food preparations and servicing domains are the lowest , due to the fact that they are not related to risk (compensating differentials nor require higher education (human capital or congenital ability Superstars are traditionally formed in the markets where the customers extremity to be supplied by the best producer and at a relatively low cost We see that wages in computer technology professions are definitely driven by superstar phenomenon , where one supplier tries to satisfy all customers , and where the wage depends on one s ability to support the company s superstar image . The level of wages is usually determined by supply and demand of labor in specific labor markets however , the discussed factors substantially change the situation , and add to the constantly changing economic situation in the national and internationalist workforce marketsReferencesBureau of Labor Statistics (2008 . Occupational employment and wage estimates . RetrievedJuly 26 , 2008 from HYPERLINK http /www .bls .gov /oes /oes_data .htm http /www .bls .gov /oes /oes_data .htmPAGEPAGE 4 hebdomad Eight...If you want to get a full essay, order it on our website: Orderessay

If you want to get a full essay, wisit our page: write my essay .