A layoff is the reduction in the number of workers due to changes in DEMAND for the firm’s PRODUCTs or changes in MANAGEMENT strategy but not due to cause. Layoffs can be temporary or permanent. Historically they were most often associated with changes in BUSINESS CYCLES. As the economy grew, so did EMPLOYMENT; but as the economy declined, workers would be laid off.

The Landrum-Griffin Act, officially titled the Labor Management Reporting and Disclosure Act (1959), created a “bill of rights” for UNION members, including freedom of speech, secret elections, and fiduciary reporting requirements for union officials.

Laissez-faire is an economic philosophy advocating limited government involvement in an economy. Advocates of “free enterprise economics” and “free market systems” often invoke the term laissez-faire in their criticism of government. Translated as “let them do” or “leave it alone,” laissez-faire originated in the protests of 18th-century French businessmen against government regulation of trade and industry.

Labor markets are markets where workers are the source of SUPPLY and employers are the source of DEMAND. Labor is one category of RESOURCES. Along with CAPITAL and natural resources, labor is necessary to produce goods and SERVICES. Employers hire workers based on the expected output and revenue they will generate.

See TAFT-HARTLEY ACT.

In the United States, the labor force (or workforce) is defined as individuals age 16 or older who either have jobs or can work and are looking for jobs. People under 16 are not considered part of the workforce, even though many young people in the United States work. Another way of defining the labor force is the sum of people employed plus the number of unemployed.

Employee relations is concerned with assuring that each employee is treated fairly and that concerns and problems are addressed quickly. Employees are encouraged to discuss their concerns with either their supervisor or a HUMAN RESOURCES representative.