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Shift in labor supply and demand curve with Example

Using such areas as manufacturing and information technology or any related industry / areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.

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You can take the example of IT industry versus manufacturing industry. Initially there was low demand for IT labor whereas there were large demand for manufacturing labor. Therefore, the supply of labor was also small in IT industry. Very few people major in IT or MIS. Due to technological changes the use of IT ...

Solution Summary

Explains the phenomenon of shift in labor supply and demand curve with an example. The example compares scenario in IT industry with manufacturing industry.