Labor Market Scenario

Labor Market Scenario

• Write a scenario that would cause a shift in labor supply and demand. The following areas have had high job growth rates and can be used for your scenario: transportation, insurance, technology, and health care industries.

• Post a 200- to 300-word response that focuses on the following:

o What is the area of employment?

o Why has this shift occurred?

o In what direction would the shift in labor supply and demand go?

o What would be its effect on the equilibrium of the labor market?

Scenario:

For this scenario, I have chosen write about the health care industry and topics that would cause a shift in labor supply and demand.

According to Wallis, L. (2006) areas of employment that would cause a shift in labor supply and demand in the health care industry include but are not limited to:

Physician work force.

Registered nurse work force.

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Licensed practical nurse work force.

Direct care workers.

Certified nursing assistant work force.

Home health and personal care aid work force.

Medical assistant work force.

According to Wallis, L. (2006) some reasons for a shift in labor supply and demand in the health care industry include but are not limited to:

Industry Trends: specific developments in the industry that give an understanding to the future of the health care industry i.e. government, health care, regulatory trends etc.

Demand for Workers: industry need for physicians, nurses, janitors etc. to maintain a constant operating environment.

Population Shifts: demographic trends that influence future the future of the health care industry i.e. immigration, old age, retiring workers etc.

Occupational Trends: specific developments in the areas of employment that give an understanding to the future of the health care industry i.e. physician work force, licensed nurse work force etc.

The health care industry...