What does it mean when the market rates for some of the benchmark jobs do not...

What does it mean when the market rates for some of the benchmark jobs do not fall inside the proposed pay structure, or, in some cases, at the extreme points in the range?

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Expert Solution

Here market rates for some of the benchmark jobs are determined by the demand and supply forces for labor. Some rates do not fall inside the proposed pay structure, these rates suggest that there is existance of large scale unskilled labors and demand is not sufficient for such labor. Hence, these do not fall inside the proposed pay structure.

While on other hand, some benchmark jobs are high on demands, such commands high rates and fall in extreme range of proposed pay structure.

Such differences also indicate perpetual inequalities in society.

Rahul Sunny answered 2 years ago

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