Labor Demand Measure

Context:
- It can range from being an Aggregate Labor Demand Curve to being a Individual Labor Demand Curve.
Example(s):
- a Labor Demand to Wage Measure (relative to to labor price).
- a Labor Demand to Cost of Capital Measure.
- a Labor Demand to Output Selling Price Measure.
- …
Counter-Example(s):
- a Capital Demand Curve.
- an Entrepreneurship Demand Curve.
- a Real-Estate Demand Curve.
See: Labor Elasticity, Labor Cross-Elasticity, Product Demand Curve, Marginal Revenue Product, Exogenous Variables, Wage Rate, Capital (Economics).

References

(Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/labor_demand Retrieved:2014-11-30.
- In economics, labor demand refers to the number of hours of hiring that an employer is willing to do based on the various exogenous (externally determined) variables it is faced with, such as the wage rate, the unit cost of capital, the market-determined selling price of its output, etc. The function specifying the quantity of labor that would be demanded at any of various possible values of these exogenous variables is called the labor demand function. ^[1]

↑ Varian, Hal, 1992, Microeconomic Analysis, 3rd Ed., W.W. Norton & Company, Inc. New York.

(Roubini, 2014) ⇒ Nouriel Roubini. (2014). “Where Will All the Workers Go?”.
- QUOTE: … But, unless the proper policies to nurture job growth are put in place, it remains uncertain whether demand for labor will continue to grow as technology marches forward.

http://www.sparknotes.com/economics/micro/labormarkets/labordemand/section1.rhtml
- QUOTE: The firms who sold goods and services in the unit on supply and demand now become the buyers in the labor market. Firms need workers to make products, design those products, package them, sell them, advertise for them, ship them, and distribute them, among other tasks. No worker will do this for free, and so firms must enter into the labor market and buy labor. Firms determine the amount of labor that they demand according to several considerations: how much the labor will cost (as represented by the market wage), and how much they feel they need, much in the way that buyers in the goods and services market buy according to the market price and their own needs.

http://elearning.la.psu.edu/econ/315/lesson-4/lesson-page-2
- QUOTE: … pay particular attention to the reasons that the demand curve slopes downward. In the short run, be sure to understand the importance of Marginal Product of Labor and Marginal Revenue Product. In the long run, be sure to consider the ability to substitute between capital & labor.
  Substitution between capital and labor can also involve substitution between more-skilled and less-skilled workers. Increasing wages for skilled workers can increase the demand for less-skilled workers, since on some margin they are substitutes. Think about how this could happen even across geopolitical borders. If wage costs rise for some workers, the demand for substitutable workers elsewhere can increase.