Jobs chances

Mohammed Sharif Abu Maysam
Well done the Ministry of Labor when it submitted a proposal to the Secretariat General of the Council of Ministers on the obligation of foreign companies to employ Iraqi labor by not less than 50 percent of the total labor used in investment projects, after the growing demand for foreign labor due to low levels of wages They are charged for the need for domestic labor for wages consistent with consumer prices in local markets.

It also did well when it obtained the approval of the Council of Ministers to do so and not to allow foreign workers to work inside Iraq without obtaining the work permit stipulated in the Labor Law No. (37) for the year 2015.

We hope that the measures will be serious for obligating foreign companies to provide foreign workers with work permits, and to give priority to national manpower, in addition to the importance of emphasizing the sectoral parties that wish to contract with foreign companies.

These measures are an important guarantee for creating more jobs in the framework of investment projects, without relying on the market mechanism for job creation, as the "invisible hand" maker of the classical economy of the 18th century.

Today, economists are keen on classical texts and ideas, At a time when the market relations in our country did not form in a way that qualifies the emergence of "invisible hand" data, and the real sectors and the sectors that supported them did not rise to the levels of actual contribution to the gross domestic product to meet the minimum domestic demand at the very least, And procedural , Continues to be distressed by the effects of the transitional period.

The invisible hand, a term introduced by economist Adam Smith in the eighteenth century, describes the interdependence of the self-interest of self-interested individuals in a free market economy, which extends to the public interest through the unintended and wide-ranging benefits of voluntary transactions,

Smith's free exchange creates signals that drive consumers, producers, distributors and intermediaries automatically and directly to compete by meeting the needs and desires of others. One of the outcomes of these relations is the provision of more jobs, as believers believe in free market.

However, recent global experiences have shown that a market whose relationships have not been formed on a regular basis is unable to produce the "hidden hand" data that our domestic market has experienced during the adjustment phase to the market economy.

Therefore, Which will be supported by the Ministry of Labor and the Council of Ministers' decisions to deal with the slack in the labor market.