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Changes in Individual Earnings Over Their Lifetime

Question

Analyse how an individual’s earnings are likely to change over her or his lifetime.

Category:

Labor Market and Income Distribution

Frequently asked question

Preview Answer

I. 🍃Introduction
- Explanation of the different stages of earnings throughout an individual's life
- Mention of gender discrimination and its impact on earnings

II. Early Career
- Low earnings due to lack of training, experience, qualifications, and skills
- Unlikely to have been promoted

III. Early Middle-Age
- Higher earnings due to increased productivity from higher skills and experience
- Adding value for employer
- May have been promoted
- Higher expenses due to purchasing a house or supporting children

IV. Late-Age Before Retirement
- Earnings may be high due to experience
- Earnings may be low due to working part-time and being less productive
- Being more tired and less physically fit

V. Retirement
- Relying on pension or family for financial support

VI. Gender Discrimination
- Explanation of how gender discrimination impacts earnings
- Mention of how it may fall, increasing a woman's earnings

VII. 👉Conclusion
- Recap of the different stages of earnings throughout an individual's life
- Importance of addressing gender discrimination to ensure fair earnings for all.

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