Labor Markets and Minimum Wage: Crash Course Economics #28
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all...
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Adriene: Welcome to Crash Course Economics, I’m Adriene Hill, Jacob: and I’m Jacob Clifford, and today we’re going to talk about labor markets, a pretty important topic. Adriene: Unless you're independently wealthy, or fine with living in your parents basement, you probably need to get a job. But how do you even get a job? And what kind of job should you get? In a lot of ways, it comes down to supplying a skill that someone else demands. [Theme Music] This is Cristiano Ronaldo. He makes about $20 million a year playing soccer. Or football, depending on where you live. Pretty much everybody would agree no one NEEDS that kind of money, but does he deserve it? How do his employers, the Real Madrid Football Club, justify this huge salary? Admittedly, th...
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Adriene: Welcome to Crash Course Economics, I’m Adriene Hill, Jacob: and I’m Jacob Clifford, and today we’re going to talk about labor markets, a pretty important topic. Adriene: Unless you're independently wealthy, or fine with living in your parents basement, you probably need to get a job. But how do you even get a job? And what kind of job should you get? In a lot of ways, it comes down to supplying a skill that someone else demands. [Theme Music] This is Cristiano Ronaldo. He makes about $20 million a year playing soccer. Or football, depending on where you live. Pretty much everybody would agree no one NEEDS that kind of money, but does he deserve it? How do his employers, the Real Madrid Football Club, justify this huge salary? Admittedly, th...
