Formal and Informal Labor
Formal labor is any sort of employment that is structured and paid in a formal way. Unlike the informal sector of the economy, formal labor within a country contributes to that country’s gross national product. Informal labor is labor that falls short of being a formal arrangement in law or in practice. Informal labor can be paid or unpaid and it is always unstructured and unregulated. Formal employment is more reliable than informal employment. Generally, the former yields higher income and greater benefits and securities for both men and women.
Read more about this topic: Labor Force
Famous quotes containing the words formal, informal and/or labor:
“Good gentlemen, look fresh and merrily.
Let not our looks put on our purposes,
But bear it as our Roman actors do,
With untired spirits and formal constancy.”
—William Shakespeare (1564–1616)
“We as a nation need to be reeducated about the necessary and sufficient conditions for making human beings human. We need to be reeducated not as parents—but as workers, neighbors, and friends; and as members of the organizations, committees, boards—and, especially, the informal networks that control our social institutions and thereby determine the conditions of life for our families and their children.”
—Urie Bronfenbrenner (b. 1917)
“Foster the labor of our country by an undeviating metallic currency ... always recollecting that if labor is depressed neither commerce nor manufactures can flourish, as they are both based upon the production of labor, produced from the earth, or the mineral world.”
—Andrew Jackson (1767–1845)