Question

1. As an Advisor to the President of your country, demonstrate how you would use a method to measure the level of employment in the wood processing industry of a region compared to that of a larger area (nation). Evaluate the strengths and weaknesses of the method .

Answer 1

Labour is one of the main production factors, since the qualification and
obedience of labour force are the basic success factors in any industrial sector. Employment rate is regarded to be the main social indicator when considering the developments within certain labour markets. This is especially applicable to the wood-processing and furniture industries. As a structural indicator, employment explains the structure of labour markets and economic systems, evaluated through the balance between labour supply and demand. The presence of sufficient and competent workforce is a compulsory essential for achieving economic growth and stability of the industries all over the world.Indices such as number and size of enterprises, capital consumption and price of output are components that change over time.The main factors which determine the employment rate in the wood-processing and furniture industries have been outlined and analyzed are aggregate demand, global competition, education, automation, and demographics.
Strengths:-1.It provides proper data of the employed workers of wood industry.
2.It is a pliable method.
3.This method is very easy to use.
Weakness:-1.This method has some shortcomings.
2.Wood industry is dependent on wood and other natural resources which are not certain.
3.This is the seasonal industry so employment rate is not fix in it.