Factors affecting reserve wages
- Changes in the individual’s overall wealth. Rich employee cannot not accept low wage
- Length of unemployment. A person who has be on lengthy unemployment accepts low minimum wage
- Marital status. When a spouse has a higher wage, reserve wage increases
- Health and disability issues. Disabled people are willing to accept low reserve wages
- The higher the education the higher the reserve wage
- Experience and skill. The higher the experience the higher the reserve wage
- Job tasks. The higher the risk of the job the higher the reserve wage
- Cost of living. The higher the cost of living, the higher the reserve wage
- Labour mobility. The higher the labour mobility the higher the reserve wage
- Success and performance.
CATEGORIES Economics
TAGS Dr. Bbosa Science
