ABSTRACT
This chapter examines the workforce from an economics perspective, by considering the factors that influence demand and supply as well as the various market imperfections which can lead to discriminatory practices. International institutions play a significant role in addressing some of the issues and ensuring that the market is appropriately regulated. The chapter discusses the importance of maintaining seafaring skills for relevant shore-based careers in the wider maritime cluster. Equally, economic prosperity in the traditional maritime nations increased the number of appealing shore-based opportunities offering competitive pay and a better work–life balance. Shipowners operating on tight margins were unable to compete on salary and so looked towards alternative and cheaper sources of labour. In any labour market, the total supply of labour is dependent on individual decisions of those who are eligible to seek employment. Such decisions will be influenced by age, family commitments, and other available opportunities.
