Labor intensive industries include restaurants, hotels, agriculture and mining. Advances in technology and worker productivity have moved some industries away from labor-intensive status, but many still remain.
Labor costs are considered variable, while capital costs are considered fixed. This gives labor-intensive industries an advantage in controlling expenses during market downturns by controlling the size of the employee base. Disadvantages include limited economies of scale (you can't pay workers less by hiring more of them), and susceptibility to wage forces within the labor market.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
labor-intensive — [lā′bərin ten′siv] adj. requiring a large labor force and a relatively small investment in capital goods [a labor intensive industry or plant] … English World dictionary
labor-intensive — UK US adjective US HR ► LABOUR INTENSIVE(Cf. ↑labour intensive) … Financial and business terms
labor-intensive — labor in tensive adjective a labor intensive industry or process needs a lot of people, so that a large proportion of its costs are salaries rather than new machines or the materials to make things with … Usage of the words and phrases in modern English
labor-intensive — adjective requiring a large expenditure of labor but not much capital cottage industries are labor intensive • Syn: ↑labour intensive • Similar to: ↑effortful * * * ˌlabour inˈtensive [labour intensive] … Useful english dictionary
labor-intensive — adjective Requiring a great deal of work, especially physical and manual effort. Picking beans is a very labor intensive activity, theres no machine made that can do it … Wiktionary
labor-intensive — la′bor inten sive adj. bus requiring a large supply of labor relative to the need for capital Compare capital intensive • Etymology: 1950–55 … From formal English to slang
labor-intensive — adjective Date: 1953 having high labor costs per unit of output; especially requiring greater expenditure on labor than in capital … New Collegiate Dictionary
labor-intensive — adjective the American spelling of labour intensive … Longman dictionary of contemporary English
labor-intensive — /lay beuhr in ten siv/, adj. requiring or using a large supply of labor, relative to capital. [1950 55] * * * … Universalium
labor-intensive — Fin involving large numbers of workers or high labor costs … The ultimate business dictionary