Workforce
Labour inherit may come as formal or non-formal, an employee old enough but below retirement age bracket passing on to his children.
Generally, the former yields higher income and greater benefits and securities for both men and women.
[5] Women frequent the informal sector of the economy through occupations like home-based workers and street vendors.
[2] Globally, a large percentage of women that are formally employed also work in the informal sector behind the scenes.
[10] A majority of agricultural work is informal, which the Penguin Atlas for Women in the World defines as unregistered or unstructured.
[5] Agriculture and informal economic activity are among some of the most important sources of livelihood for women.
[8] Women are estimated to account for approximately 70 per cent of informal cross-border traders[11] and are also prevalent among owners of micro, small, or medium-sized enterprises (MSMEs).
For women-owned MSMEs this is often compounded by their lack of access to credit and financial liquidity compared to larger businesses.
[8] For women-owned MSMEs, this is often compounded by their lack of access to credit and financial liquidity compared to larger businesses[8].
Agricultural work varies widely depending on context, degree of mechanization and crop.
Paid and unpaid work are also closely related with formal and informal labour.
Women usually work fewer hours in income generating jobs than men do.
Worldwide, women and girls are responsible for a great amount of household work.
[2] Only in the Netherlands do men spend 10% more time than women do on activities within the home or for the household.
[12] The global supply of labour almost doubled in absolute numbers between the 1980s and early 2000s, with half of that growth coming from Asia.
[13] At the same time, the rate at which new workers entered the workforce in the Western world began to decline.
The growing pool of global labour is accessed by employers in more advanced economies through various methods, including imports of goods, offshoring of production, and immigration.
While most of the absolute increase in this global labour supply consisted of less-educated workers (those without higher education), the relative supply of workers with higher education increased by about 50 percent during the same period.
According to a 2012 report by the McKinsey Global Institute, this was caused mostly by developing nations, where there was a "farm to factory" transition.
This industrialization took an estimated 620 million people out of poverty and contributed to the economic development of China, India and others.
[15] Under the "old" international division of labor, until around 1970, underdeveloped areas were incorporated into the world economy principally as suppliers of minerals and agricultural commodities.
The growth of offshore outsourcing of IT-enabled services (such as offshore custom software development and business process outsourcing) is linked to the availability of large amounts of reliable and affordable communication infrastructure following the telecommunication and Internet expansion of the late 1990s.
