Labor Supply,

Population
Growth, and
Wages
 L A B O R

Labor is the amount of physical,

mental and social effort to produce
goods and services in an economy.
LABOR

-It is one of four factors

of production that drive
supply.
Labor supplies the expertise,
manpower and service
needed to turn raw materials
into finished product and
services.
 S U P P L Y
- is a fundamental economic concept that
describes the total amount of a specific
good or service that is available to
consumers.
Supply can relate to the amount
of available at a specific price or
the amount available across a
range of prices if displayed on a
graph.
In the Philippines, the labor
supply is also known as the
labor force, refers to the
portion of the population.
15 years old and over who are
willing and able to work,
including:
• actively seeking work but have
not found work
• employed
There are likewise other people who
are excluded from the labor force:
• full-time housewives/ househusbands
•full-time students
•physically and mentally disabled
•not actively seeking for work
The country's labor supply is vital to
the economy, since their contribution
to production of goods and services
determines the value of the country's
Gross Domestic Product.
In 2014, as of April, Philippine labor
force was reported at 41. 6 million,
with an estimated 38.7 million total
employed people, 60% were males
and the largest employed persons
consisted of the age group 25 to 34
years
Full-time workers
-40 hours or more
-59.3 % are total employed.

Part-time workers
-40 hours or less
Employment growth in large
enterprises in Metro Manila continued
to be positive at 1.02 % during the
fourth quarter of 2014 but this
reflected a marked slowdown
compared with the same quarter of
the previous year at 3.22%.
The country's labor force grew
by an average of 2.5% or an
addition of 962,000 persons in
2014.
P O P U L A T I O N
G R O W T H
An increase in the number of people
that reside in a country, state , or city.
To determine whether there has been
population growth.
( birth rate + immigration) - ( death rate +
emigration )
 Population of the Republic of the
Philippines (2014)

- reached more than 100 million

people.
-it represents 1.38% of the worlds
population.
W A G E S

Money that is paid or received

for work and services as by the
hour, day or week
THANK YOU!!!