labor factor

labor factor

[′lā·bər ‚fak·tər]
(industrial engineering)
The ratio of the number of hours required to perform a task under project conditions to the number of hours required to perform an identical task under standard conditions of work measurement.
References in periodicals archive ?
The specific framework is as follows: firstly, integrate the characteristics of rural-urban migrants into the general equilibrium model, divide labor factor into urban labor factor and rural labor factor, and adjust corresponding functions of production, income and expenditure.
The real wage is used to identify the marginal productivity of the labor factor and the real interest rate identifies the marginal productivity of capital.
Fabricant emphasizes on the importance of improving labor factor quality and writes: "continuous labor training and other efforts to improve workforce quality is a kind of investment on human resource which will have a return in future.
However, the availability of local management and labor, included in the Labor factor, is viewed as a significant risk factor in India in the next 3 years ([beta] = .
Sommer specializes in precast manufacturing technology for this potential market, stressing a complete technical solution with low plant labor factor.
Probably one of the causes that led to the underestimation of the value of the labor factor is the lack of unity of the working class, working-class weakness which subsequently became Marx's vision.
Jamie Peck (1992) demonstrated that in the choice of industrial location, the labor factor plays a central role among other environmental factors.
But, he added, "Chinese production is still the cheapest if the labor factor is high.
The low-cost labor factor can be especially helpful for industries such as welding and healthcare, which have high demand for jobs, said Meagan Shea, director of career services at Bellingham Technical College.
The labor market's inflexibility, high reservation wages, and a labor factor burdened with large social contributions produce persistently high unemployment rates in the neighborhood of 10 percent.
The labor factor -- all the hours of shopping, food preparation and cleanup -- is causing more and more traditionalists to outsource the grandaddy of all holiday meals.