In mainstream economic theories, the labour supply is the total hours (adjusted for intensity of effort) that workers wish to work at a given real wage rate. It is frequently represented graphically by a labour supply curve, which shows hypothetical wage rates plotted vertically and the amount of labour that an individual or group of individuals is willing to supply at that wage rate plotted horizontally.
Labour supply curves derive from the 'labour-leisure' trade-off. More hours worked earn higher incomes, but necessitate a cut in the amount of leisure that workers enjoy. Consequently, there are two effects on the amount of labour desired to be supplied due to a change in the real wage rate. As, for example, the real wage rate rises the opportunity cost of leisure increases. This tends to make workers supply more labour (the "substitution effect"). However, also as the real wage rate rises, workers earn a higher income for a given number of hours. If leisure is a normal good—the demand for it increases as income increases—this increase in income tends to make workers supply less labour so they can "spend" the higher income on leisure (the "income effect"). If the substitution effect is stronger than the income effect then the labour supply slopes upward. If, beyond a certain wage rate, the income effect is stronger than the substitution effect, then the labour supply curve bends backward.
That led to supply shortages, backlogged orders and stocked cargo ships stuck offshore ... “If you think of every node within the great network of just a single supply chain for a single product, all these companies are dealing with different issues — labor shortages, people being ill and not coming back to work, all kinds of stuff,” Hooker said.
“We work closely with our brothers and sisters in labor in that group,” Esposito said ... This is where RossGould, vice president for supply chain development at BusinessNetwork for OffshoreWind, came in. The nonprofit organization has a diverse coalition of more than 400 members involved in labor, supply chain, the environment, and academics.
EXPANSION ... By Kao Shih-ching / Staff reporter ... The port’s backlog of container ships was alleviated earlier, but has worsened again, with more than 30 vessels idling offshore at present, he said. The congestion resulted from supply disruptions because of a pandemic-induced labor shortage, Hsieh said ... Booking for our capacity has been strong ... .
Whilst the creation of debt can represent an expansion in the broad money supply, the destruction of debt conversely equates to a contraction in the money supply ... Commodities & SupplyDrivenInflation ... The US economy is largely a service economy, as the growth in globalization has resulted in the US offshoring its labor and supply chains.
Among the resources available on the OSWSupplyChain website is a NYSERDA-based geo-map offering a straightforward view of offshore wind training and manufacturing organisations, port operations, apprenticeship programs, labor organisations, consulting services, and offshore construction services.
offshore wind industry has been anxiously awaiting for years ... Lefton hailed the jobs that would be created in the construction, maintenance and supply chain of the offshore wind industry, and she said those would be in partnership with unions and the labor movement "to ensure that we can realize the full potential of this industry.".
U.S ...SupplySideFactor Contributing to Rally. At the start of the week, the crude oil market is being beset by supply concerns due to a spreading labor strike in Norway, which has shut six offshore oil and gas fields, and the evacuation of oil platforms in the Gulf, with Tropical Storm Delta heading toward the Louisiana and Florida coast ... ....
These developments have raised doubts about relying on global supply chains to cut labor and other costs ... The COVID-19 outbreak has highlighted the critical risks and weaknesses of conventional global supply chains," he said ... "Labor cost advantages from offshoring have weakened a lot in the past several years," one executive told The Korea Times.
FUP blamed Petrobras for any potential fuel supply disruptions ... "The company is also hiring companies with experience in the operation and maintenance of offshore oil and gas production facilities, to supply specialized and certified labor to operate on their own platforms for the duration of the strike movement," Petrobras said.
As the City of Miami moves ahead on long-awaited repairs and improvements at the city’s Dinner KeyMarina, another contractor is poised to be hired to build an adjacent mooring facility ... The work includes furnishing all materials, labor, services, supplies, goods, and equipment to construct a 25-vessel mooring field offshore from Dinner Key Marina ... .