Work & Economic Life.pptx

ppt

1. WORK & ECONOMIC LIFE VANITA MODAGI

2. What is Labour? Work performed to achieve a particular goal which results in economic or material benefit is called labour Labour involves effort : physical, mental or both Labour can be of various forms: Work done based on interests, taste, talent, ability, expertise, age, education, & gender Division of labour leads to specialization Specialization means achieving sufficient expertise, training, and skill in any particular field Division of labour leads to economic benefit & well trained groups who can help industries, trade & commerce to excel 2

3. Paid Work & Unpaid Work Any work that provides wages, economic benefit or material benefit is called Paid Work Work done for leisure, hobby, self satisfaction & content which does not include any economic benefit is Unpaid Work Unpaid work sometimes can be converted to Paid Work if the talent is exceptional However, certain sections of people all over the world were forced to work for rich people but without pay – refers to unfair practices Inequality at work & in wages is a crime – everyone performing the same job must be paid same irrespective of their gender, caste or religion If people assume greater responsibilities they can be paid more –this is not inequality Wages must be paid as decided before the job – not negotiable after job is done – exploitation Equal Wages Act -1976 prohibits discrimination of wages 3

4. Unemployment Employment is necessary to earn a living – can be self employed, government employee, army, police, trade, etc. Unemployment is a major problem for economic growth & reduction in poverty Everyone needs money to make a living: support family, pay for basic necessities like house, food, health, etc. Unemployment means denial of opportunity for people with ability to get work in spite of proper age, ability & interest Overpopulation, automation, social inequality, insufficient capital & illiteracy results in unemployment Specialization leads to skilled workers Automation leads to jobs for skilled but unskilled will not be absorbed Unemployment sometimes leads to crimes, corruption, family disintegration, cheating, deception, robbery & prostitution 4

5. Remedies For Unemployment Unemployment problem is tackled by government by many programs: Announcing major projects, population control, encouragement to cottage industries, agricultural development, Entreprenerur , training programs, etc. Provide loans at low interest rates Organized Workers: Workers governed by legal rules & regulations Work is subject to specific terms & conditions Enjoy facilities of specialization, training, talent, experience & educational qualifications Day to day transaction are recorded in written form Fixed wages includes allowances, paid leave, pension & health benefits Eamples : Armed forces, banking jobs, private companies, government departments, etc. Unorganized Workers: not governed by specific rules, regulations, unions-living on daily wages or material benefit in any other form Examples: domestic help, construction workers, agricultural labours , footpath hawkers, vehicle repairs garage, etc. Only get work or pay based on their individual effort Not bound by rules & regulations No additional benefits like health, pension, paid leave, etc. 5