1Assistant Professor, Department of Economics, VELS Institute of Science, Technology and Advanced Studies, Pallavaram, Chennai
2Professor and Head, Department of Economics, VELS Institute of Science, Technology and Advanced Studies, Pallavaram, Chennai
3Associate Professor, Department of Economics, VELS Institute of Science, Technology and Advanced Studies, Pallavaram, Chennai
Online published on 27 March, 2020.
Labour markets play a significant role in determining the success of the economic restructuring policies and their impact on the population. The social aspects of minimum wage and job security regulations are necessary to promote the welfare of the workers. Rapid growth of employment and real wages should be of primary interest to workers in any country. They are also justified in view of varying conditions of demand and supply and varied job requirements like skill, knowledge, aptitude, ability, experience etc. but the object of the government is to minimize income inequalities and inequalities in the distribution of wealth. Human Resource managers are expected to understand these varying approaches because they provide them theoretical underpinnings for much of the role of Human resource management. The three popular approaches to industrial relation are unitary approach, pluralistic approach, and Marxist approach. This reflects that no proper implementation of rules and monitoring authorities is apparently found with industries. The analysis Age-wise distribution of workers revealed that 32.22 per cent of workers belong to the age group of 21 to 30 years followed by 25.56 per cent of workers in the age group of 31 to 40 years. This indicates that 57.78 per cent of the workers fell in the age group of 21 to 40 years in all the three category of industries.
Industrial Labour, Employment, wages