Overview
Labor migration and remittances play a crucial role in the global economy. As people move to different regions for work, they send money back home, which supports families and contributes to economic growth. Understanding these concepts helps us grasp the complexities of labor markets and the interc...
Key Terms
Example: Many workers migrate from rural areas to cities for better job opportunities.
Example: A migrant worker in the U.S. sends money to their family in Mexico.
Example: Increased remittances can lead to higher GDP in the home country.
Example: Countries may have different visa requirements for migrant workers.
Example: Remittances can contribute to economic development by funding local businesses.
Example: A strong labor market can attract more migrants seeking jobs.