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Economic Globalization in Manufacturing Industry of Less Developed Countries

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There are numerous factors in globalization, which exert influence on the employment patterns. Firstly, it can be said about the number of jobs available in the economy. The central macro-economic variables (unemployment rate and the employment-to-population ratio) are properly considered on the background of the globalization. For example, the occurrence of offshoring can be positioned both as a favorable and unfavorable employment factor. This can be explained in the following way: if the company moves from one country to another, people in the source country can lose their jobs, while people in a target country can get new jobs.

If this pattern is ineffective in LDCs, then businessmen have a chance to introduce their own economic incentives and open new firms locally. Another factor, which is determined as globalization factor influencing employment patterns, is the structure of jobs. It means that economic activities can produce new jobs or remove jobs of previous years. For example, technological progress can be considered as an important influential factor, which produces a number of innovative jobs in the field of technology and industry.

  Therefore, other fields may suffer losses of jobs. In accordance with the study by Brooks, Weatherston, Wilkinson (2004) Globalization, challenges and changes: “ We can see it in the relocation of manufacturing from more developed economies to those that are less developed, or in the transfer of call centers from the UK to India or from the USA to Puerto Rico. Offshoring will inevitably involve the loss of employment in the country that the business leaves” . Nevertheless, the sector of manufacturing in LDCs suffers a lot from lacking investments and relying mainly on the external support of other governments.

The composition of jobs is a very complicated task too. Thus, it can be claimed that there are both unskilled and skilled workers. Thus, globalization influences these categories in a different way. Workers from developed countries would be affected by stagnating revenues and a high level of competitiveness from workers from developing countries.  

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