Week_3_Xeco_Assignment

What was the impact on the supply and demand of labor on one sector of the labor market' The Black Death was a pandemic that wiped out almost a quarter of the earth’s population, thus creating a vacuum in labor of agriculture. Europe’s population loss was catastrophic, but they were also ill prepared for the growth that came after as well. The laborers that died were skilled and unskilled alike. The plague was indiscriminate about whom it took and the upper class was no exception. Those who left were had to deal with different lords or leaders. Technological advances were stunted due to the labor markets trying to hold on to the little that they had left. The rebound of population growth put a strain on the ability of agriculture to provide for them. Imagine 25% of your businesses employees and management dying, and the effect it would have on idea’s, and progress and that was the impact that the Black Death had on the labor market 700 years ago. In this time period of world history class played the largest part of one’s ability to increase their financial standing in the community. With the strained labor market people had the ability to step into positions that would otherwise be reserved for people in better social standing. People who would have normally been considered unqualified for a position were now in better and more demanding positions. This did have an effect on the quality of the work that was done though. Less skilled labor and unlikely leaders led to less than stellar production.