Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demands of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income.
In economics, labour is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital. There are theories which have developed a concept called human capital (referring to the skills that workers possess, not necessarily their actual work), although there are also counter posing macro-economic system theories that think human capital is a contradiction in terms.
The United States of America (USA), commonly referred to as the United States (US), America, or simply the States, is a federal republic consisting of 50 states, 16 territories, and a federal district. The 48 contiguous states and the federal district of Washington, D.C., are in central North America between Canada and Mexico. The state of Alaska is the northwestern part of North America and the state of Hawaii is an archipelago in the mid-Pacific. The country also has five populated and nine unpopulated territories in the Pacific and the Caribbean. The largest of these territories are Puerto Rico and the American Virgin Islands which are an official part of the United States. At 3.79 million square miles (9.83 million km2) in total and with around 316 million people, the United States is the fourth-largest country by total area and third largest by population. It is one of the world's most ethnically diverse and multicultural nations, the product of large-scale immigration from many countries. The geography and climate of the United States is also extremely diverse, and it is home to a wide variety of wildlife.
Paleo-indians migrated from Asia to what is now the U.S. mainland around 15,000 years ago, with European colonization beginning in the 16th century. The United States emerged from 13 British colonies located along the Atlantic seaboard. Disputes between Great Britain and these colonies led to the American Revolution. On July 4, 1776, delegates from the 13 colonies unanimously issued the Declaration of Independence. The ensuing war ended in 1783 with the recognition of independence of the United States from the Kingdom of Great Britain, and was the first successful war of independence against a European colonial empire. The current Constitution was adopted on September 17, 1787. The first 10 amendments, collectively named the Bill of Rights, were ratified in 1791 and guarantee many fundamental civil rights and freedoms.
The American Jobs Act(S. 1549) (H. Doc. 112-53) and (H.R. 12) is the informal name for a pair of bills proposed by U.S. President Barack Obama in a nationally televised address to a joint session of Congress on September 8, 2011. He characterized the proposal as a collection of non-controversial measures designed to get Americans back to work, and he repeatedly urged Congress to pass it "right away"; he also said that the bills would not add to the national deficit and would be fully paid for.