Wage in the eyes of the employer

Youth Career Management blog http://youthcm.com

Youth Career Management (YCM) reports that: Most of the clothes you find in stores are manufactured in low wage countries. These are countries where wages are much lower than in Western Europe for example.

Turnover = sales xprice

Turnover is the valueof goods sold; another term for revenue is total revenue

Marketing is thequantity sold

Price is the price atwhich the product is sold

The companies need money to pay wages, interest, rental costs, and machine costs, transport costs for raw materials, consumables and energy. The profit is the difference between revenues and costs. A wage increase may cause problems if the wage is greater than the increase in labor productivity. Then rising labor costs per product is an increase in labor costs per product can elicit different responses from companies.

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