An analysis of the labour market conditions within setting bussiness Essay

An analysis of the labour market conditions within setting bussiness. And a critical reflection on your own internal strengths and weaknesses, as well as the ex - Essay Example Although the features of labour market conditions vary due to market forces, plurastic and regionalistic factors with socio-economic influences, they could be broadly be divided into four main divisions which are as follows: - This market is chiefly constituted of medium and large-scale commercial agricultural activities, including cultivation and distribution of crops. Proprietorship or partnership firms chiefly own them. Most of the workers engaged in the formal rural markets are unskilled and semi-educated and their main activities are in the areas of crops and agricultural produce. This market segment is chiefly indulging in small-scale operations involving self employed persons along with the assistance of unpaid family members. Like formal rural markets, this segment is also characterized by unskilled or semi-skilled labour force who are involved in small-scale activities with low productivity and hence, low level of wages. The main functions in informal rural markets are in the raising of exportable cash crops. This segment consists chiefly of Medium and Large Scale enterprises producing commercial and non-tradable goods using a combination of skilled and semi-skilled workers. They constitute private or state owned enterprises where the wage levels are regulated by the Government and by local state laws. The requirements of Minimum Wages and Allowances and benefits to workmen are also applicable in this segment. Since this market segment is in the regulated area, the workers and staff are protected by the Trade Labour Unions, who play an important role in labour matters, and trade unionism activities are also present in this segment This segment comprises of self-employed professionals in the urbanized sector and represents privately owned enterprises. They are mainly dealing with manufacturing, trading and distribution of non-tradable items and this segment is, more often than not, in the unregulated sector. The wages and job security in these