Wage Policy

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August 31, 2024 4 min read Definitions
Classical Unemployment: Economic Implications of Wage Imbalance
Economics Employment Unemployment Classical Economics Wage Policy Productivity Labor Market
Classical Unemployment refers to the situation where wages being too high relative to productivity result in firms being unable to employ all available labour profitably. This can be mitigated by policies aimed at wage reduction or productivity improvements.
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August 31, 2024 3 min read Definitions
Uniform Increase: Equal Raise for All Employees
Economics Management Human Resources Wage Policy Salary Increment Employee Compensation Equal Pay Human Resources
A uniform increase refers to an equal raise applied uniformly across all employees, akin to an across-the-board wage increase.
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