2024 – THE LABOR MARKET The Labor Market Most firms require labor to produce output

THE LABOR MARKET

The Labor Market

Most firms require labor to produce output. The number of workers to hire is often an important decision of the firm because it affects the costs and profits of the firm. Write a 2- to 3-page paper on the following issues:

1. Suppose you are the manager of the firm. What advice would you give the owners to raise the productivity of its labor? Be specific in your proposal.
2. Several cities across the United States have passed legislation to raise the living wage. How would this policy affect your firm?
3. Use the readings from the background page. Make an argument for or against living wages in your city. (Note: the living wage calculator is a useful tool to determine the cost of living where you live).

For this work the firm you are going to talk about is The Hamptons hotels.

SLP Assignment Expectations

Use concepts from the modular background readings as well as any good-quality resources you can find. Please be sure to cite all sources within the text and a reference list at the end of the paper.

Length: 2–3 pages double-spaced and typed.

The following items will be assessed in particular:

• Your ability to examine the labor market in a particular firm.
• Some in-text references to the modular background readings (APA formatting not required).
• The essay should address each element of the assignment. Remember to support your answers with solid references.