October 17, 2021
Labor economics - a section of the economy that studies the processes of reproduction of labor and the interaction of workers, means and objects of labor. Labor economics analyzes the labor market, labor resources and employment, long-term analysis of labor relations, examines employee income and wages, studies the problems of productivity and labor efficiency, develops methods for substantiating the number of employees, and examines the concepts of human capital. The founder of modern labor economics is Minser. Some scholars more broadly interpret the subject of labor economics and refer to it the problems of labor rationing, methods of personnel management.