Question

How do labour market reforms create Greater flexibility in the economy?​

Answer 1

Answer:

Key Takeaways

Labor market flexibility allows companies to make decisions about their labor force in response to market changes and to help boost production.

Flexible labor markets allow companies to make changes such as employee hiring and firing, compensation and benefits, and working hours and conditions.

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Explanation:

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Answer 2

Answer:

1. How to increase labour market flexibility
2. Reduce minimum wages. ...
3. Reduce the power of trade unions. ...
4. Improve information for workers and firms. ...
5. Better education and training. ...
6. Make it easier to hire and fire workers. ...
7. Support in legislation, zero-hour contracts which enable firms to choose how much to employ workers.