What Seperates Labor Markets in Developing Nations from Developed Nations‪?‬

The majority of the world’s population lives and works in developing countries. This
paper examines what might be the difference between labor markets in developing and
developed countries.
The paper first briefly looks at various definitions of the term “developing country”. It
then starts with the topic of migration, whose causes and consequences will be described. A
look at labor legislation follows with a focus on unemployment protection and insurance as
well as minimum wages.
Then, the paper examines how wages are determined when labor is organized and how
centralized the wage setting process takes place. The key difference that might be most
intuitive of all is next. Dualistic markets, the concept of formal and informal sectors, are
analyzed. The paper ends with various social aspects, such as the role of women, child labor
as well as health and nutrition, that separate labor markets in developing nations from
developing countries.