10 Factors Affecting Labour Force

Factors Affecting Labour Force – All individuals who meet the criteria for inclusion among the employed (civilian employment plus the military forces) or the unemployed make up the labour force, also known as the presently active population. The term “employed” refers to those who labor for pay or profit at least one hour each week or who hold a job but are momentarily off the clock due to illness, vacation, or a strike.

The armed forces include anybody who served in the armed forces during the time in question, whether they were stationed in the metropolitan territory or elsewhere, and was selected from the pool of all workers available. People without a job who are looking for work and are currently eligible to start working are considered jobless. This indicator is measured in individuals and is adjusted for the season. Others inquire.

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What is Labour Force?

The labor force is made up of both employed people and unemployed people, and the unemployment rate is calculated by dividing the number of jobless people by the total labor force. If a person works for compensation or runs their own business for at least an hour any day of the week, including the twelfth of the month, they are regarded to be employed.How to Transfer From Wema Bank to Sportybet

Statistics on Nigeria’s Labour Force

According to the World Bank’s collection of development indicators, which is derived from officially recognized sources, the labor force in Nigeria was estimated to be 65115671 in 2021. The World Bank provided actual statistics, historical data, forecasts, and estimates for Nigeria’s total labor force in January 2023. More than 80 million people work in Nigeria. With almost 23 million individuals, Nigerians between the ages of 25 and 34 made up the majority of the labor force as of 2020.Factors Affecting Labour Force

Benefits of Large Labour Force to Nigeria

The following are the benefits of large labour force to Nigeria;

1. It attracts more workforce to the country as people would perceive the nation as being industrious.
2. It would attract foreign investment into the countryJAMB Result
3. It helps bring improvement to the trade-off between inflation and unemployment.
4. It helps to reduce wages stickiness  in workplace and the labour market in general
5. As long as a person has flexible skills, it can help in reducing the risk of structural unemployment
6. Helps to increase the number of female employment in the labour market.
7. Makes it easier for employers of labour to hire new staff and fire the ones that are underperforming in order to meet the goals of the establishment.

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Factors Affecting Labour Force in Nigeria

Racial characteristics of the Nigerian labor force:

Every person has been seen to inherit certain traits from the race he or she belongs to.

1. Hereditary Characteristics

Some young people inherit the parent’s talent and prefer to take up the parent’s line of work.

2. Personal Characteristics:

This applies to someone’s demographic traits which support working effectively. For instance, a worker will be more productive than others if he is cognitively awake, physically fit, intellectual, sober, honest, resourceful, and responsible.

3. General Intelligence And Education:

There are certain general and technical skills that a worker may learn through schooling. Honestly, among these qualities, one may add intellect, tenacity, discernment, physical health and strength, resourcefulness, a feeling of duty, etc.200 Romantic Love Message

The effectiveness of labor is also based on these characteristics. A person who possesses these attributes will be more effective at work than someone who does not.

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4. Quality Of Life:

A worker with a high quality of living is more productive than one with a poor one. Good nutrition, appropriate attire, a comfortable house with a clean environment, and good ventilation all contribute to boost a worker’s productivity.

5. Moral Standards:

The moral animal is man. Man possesses not just self-awareness but also complete moral awareness and self-morality. Moral traits boost a worker‘s productivity. An honest, truthful, and person of excellent character is valued by management, and this attribute aids in boosting productivity.NYSC Portal

6. Working Times

It must be kept in mind that shorter workdays with breaks for tea and lunch as well as for relaxation and entertainment always assist to improve labor productivity. Long hours are linked to ineffectiveness, which has been demonstrated.

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7. Earnings Rate:

The earnings a worker makes have a significant impact on how effective he is. A worker who earns enough money to maintain a decent quality of life will be very productive. A worker who earns little would complain often and be unable to give his all to his task. His effectiveness will thus be Political Situation:

8. Political Climate:

This has an impact on labor productivity as well. In contrast to a worker who lives in continual fear in a nation plagued by internal unrest and the constant danger of conflict from abroad, the worker’s productivity will be higher in a nation where the government is strong enough to protect citizens from foreign aggression and maintain domestic calm.JAMB Portal

As a result, the employment rate is likely to be high, for example, if the economy is experiencing high levels of demand. There will be more motivation to work if the wage-benefit gap widens, which means that employment rates should rise as a result.105 Good Morning Love Messages

9. Social Attitudes and Provision for the Disabled to Work:

The greater the number of people willing to accept disabled people working and the easier it is made for the disabled to work (for instance, having ramps installed for wheelchair access), the more potential workers there will be.

10. TheRatio or Employment Rate:

This is the proportion of people who are of working age who are employed. Once again, a nation’s employment rate is impacted by views about working women and disabled workers, participation in full-time post-secondary education, preferred retirement age, amount of economic activity, and the disparity between pay and benefits.

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Conclusion:

In conclusion, there are many different and linked elements impacting Nigeria’s labor force. Population growth, economic circumstances, skill levels, political stability, technological breakthroughs, and infrastructural growth are some of the most important elements.6 Best Shop Basmati Rice in Nigeria and their price

Government, the corporate sector, and people must work together to invest in education, generate employment opportunities, and advance stability in order to successfully address these concerns and strengthen the labor force in Nigeria. By doing this, the Nigerian workforce may contribute to economic progress and growth.

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