Scenario 4.1: Future Healthcare Labour Market Shortages
According to a new Canadian labour market projection report,there are currently labour shortages in a number of occupations,including those in healthcare,particularly doctors and nurses,at both the provincial and national level.These healthcare occupations have employment and wages increasing substantially faster than in other occupations.Unemployment is very low,less than 1% for many healthcare occupations,relative to historical data and to other occupation data.Regional hospitals across Canada have been proactive by implementing strategies and techniques to deal with these shortages.
-Please refer to Scenario 4.1.The situation above can be referred to as a tight labour market.What occurs in a tight labour market?

Question

Quizplus · Accepted Answer

In a tight labour market, the demand for labour exceeds the labour supply, which leads to labour shortages. This is the situation described in Scenario 4.1, where there are labour shortages in healthcare occupations, such as doctors and nurses, and unemployment is very low. Option A is incorrect because the supply for labour in a tight labour market is lower than the demand. Option B is partially correct, but the tension is caused by the shortage of labour, not just by the supply and demand. Option D is correct but not as precise as option C, which directly states that the demand exceeds the supply.