Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours or workload.
An informal economy is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal sector makes up a significant portion of the economies in developing countries, it is sometimes stigmatized as troublesome and unmanageable. However, the informal sector provides critical economic opportunities for the poor and has been expanding rapidly since the 1960s. Integrating the informal economy into the formal sector is an important policy challenge.
In linguistics, a neologism is any relatively recent and isolated term, word, or phrase that nevertheless has achieved popular or institutional recognition, and is becoming accepted into mainstream language. Most definitively, a word can be considered a neologism once it is published in a dictionary.
Wealth is the abundance of valuable financial assets or physical possessions which can be converted into a form that can be used for transactions. This includes the core meaning as held in the originating Old English word weal, which is from an Indo-European word stem. The modern concept of wealth is of significance in all areas of economics, and clearly so for growth economics and development economics, yet the meaning of wealth is context-dependent. A person possessing a substantial net worth is known as wealthy. Net worth is defined as the current value of one's assets less liabilities.
Employment is a relationship between two parties regulating the provision of paid labour services. Usually based on a contract, one party, the employer, which might be a corporation, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in return for carrying out assigned work. Employees work in return for wages, which can be paid on the basis of an hourly rate, by piecework or an annual salary, depending on the type of work an employee does, the prevailing conditions of the sector and the bargaining power between the parties. Employees in some sectors may receive gratuities, bonus payments or stock options. In some types of employment, employees may receive benefits in addition to payment. Benefits may include health insurance, housing, disability insurance. Employment is typically governed by employment laws, organisation or legal contracts.
Working (laboring) time is the period of time that a person spends at paid labor. Unpaid labor such as personal housework or caring for children or pets is not considered part of the working week.
Flextime is a flexible hours schedule that allows workers to alter their workday and decide/adjust their start and finish times. In contrast to traditional work arrangements that require employees to work a standard 9 a.m. to 5 p.m. day, flextime typically involves a "core" period of the day during which employees are required to be at work, and a "bandwidth" period within which all required hours must be worked. The working day outside of the "core" period is "flexible time", in which employees can choose when they work, subject to achieving total daily, weekly or monthly hours within the "bandwidth" period set by employers, and subject to the necessary work being done. The total working time required of employees on flextime schedules is the same as that required under traditional work schedules.
In economics, the lump of labor fallacy is the misconception that there is a finite amount of work—a lump of labor—to be done within an economy which can be distributed to create more or fewer jobs. It was considered a fallacy in 1891 by economist David Frederick Schloss, who held that the amount of work is not fixed.
In macroeconomics, the labor force is the sum of those either working or looking for work :
In linguistics, a protologism is a newly used or coined word, a nonce word, that has been repeated but not gained acceptance beyond its original users or been published independently of the coiners. The word may be proposed, may be extremely new, or may be established only within a very limited group of people. A protologism becomes a neologism as soon as it appears in published press, on a website, or in a book, independently of the coiner—though, most definitively, in a dictionary. A word whose developmental stage is between that of a protologism and a neologism is a prelogism.
The Organisation for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio. This is a statistical ratio that measures the proportion of a country's working age population that is employed. This includes people that have stopped looking for work. The International Labour Organization states that a person is considered employed if they have worked at least 1 hour in "gainful" employment in the most recent week.
The overall status of women in Libya has undergone significant changes and progress over the years. The Gadaffi government has made emancipation effort, with the empowerment of women being a central aspect of the 1969 revolution. The same government has yet been held responsible for various human rights violations, including on women. The condition of women in society has improved through policies such as equal pay for equal work, universal healthcare, and right to education. Women have also gained the right to vote, run for political office, and participate in national institutions. However, cultural biases against women in the workplace and resistance to change from more traditional sectors of society have been obstacles to process. Moreover, the political upheaval of the 2011 revolution has led to both gains and setbacks for women's rights. Nonetheless, the continued involvement and engagement of women in public life and government have emphasized the importance of female emancipation for the progress and development of Libya as a whole.
Unpaid labor or unpaid work is defined as labor or work that does not receive any direct remuneration. This is a form of non-market work which can fall into one of two categories: (1) unpaid work that is placed within the production boundary of the System of National Accounts (SNA), such as gross domestic product (GDP); and (2) unpaid work that falls outside of the production boundary, such as domestic labor that occurs inside households for their consumption. Unpaid labor is visible in many forms and isn't limited to activities within a household. Other types of unpaid labor activities include volunteering as a form of charity work and interning as a form of unpaid employment. In a lot of countries, unpaid domestic work in the household is typically performed by women, due to gender inequality and gender norms, which can result in high-stress levels in Women attempting to balance unpaid work and paid employment. In poorer countries, this work is sometimes performed by children.
The economic policy of the Barack Obama administration, or in its colloquial portmanteau form "Obamanomics", was characterized by moderate tax increases on higher income Americans designed to fund health care reform, reduce the federal budget deficit, and decrease income inequality. President Obama's first term (2009–2013) included measures designed to address the Great Recession and subprime mortgage crisis, which began in 2007. These included a major stimulus package, banking regulation, and comprehensive healthcare reform. As the economy improved and job creation continued during his second term (2013–2017), the Bush tax cuts were allowed to expire for the highest income taxpayers and a spending sequester (cap) was implemented, to further reduce the deficit back to typical historical levels. The number of persons without health insurance was reduced by 20 million, reaching a record low level as a percent of the population. By the end of his second term, the number of persons with jobs, real median household income, stock market, and real household net worth were all at record levels, while the unemployment rate was well below historical average.
Unemployment in the United States discusses the causes and measures of U.S. unemployment and strategies for reducing it. Job creation and unemployment are affected by factors such as economic conditions, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage levels.
Care work is a sub-category of work that includes all tasks that directly involve the care processes done in service of others. It is often differentiated from other forms of work because it is considered to be intrinsically motivated. This perspective defines care labor as labor done out of affection or a sense of responsibility for other people, with no expectation of immediate pecuniary reward. Regardless of motivation, care work includes care activities done for pay as well as those done without remuneration.
Wage theft is the failing to pay wages or provide employee benefits owed to an employee by contract or law. It can be conducted by employers in various ways, among them failing to pay overtime; violating minimum-wage laws; the misclassification of employees as independent contractors; illegal deductions in pay; forcing employees to work "off the clock", not paying annual leave or holiday entitlements, or simply not paying an employee at all.
The valuation of nonmarket housework comprises attempts to attach value to non-exchange domestic tasks. Housework may include a variety of activities, particularly those traditionally associated with housekeeping, along with child care and nurturing. These activities have recognizable economic and social significance, but are not included in standard economic measurements, such as the gross domestic product (GDP). While the symbolic or subjective benefits of housework are difficult to measure, various attempts have been made to attach value to economically productive household activity.
The proletariat is the social class of wage-earners, those members of a society whose only possession of significant economic value is their labour power. A member of such a class is a proletarian or a proletaire. Marxist philosophy regards the proletariat under conditions of capitalism as an exploited class - forced to accept meager wages in return for operating the means of production, which belong to the class of business owners, the bourgeoisie.
Gig workers are independent contractors, online platform workers, contract firm workers, on-call workers, and temporary workers. Gig workers enter into formal agreements with on-demand companies to provide services to the company's clients.
