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The King`s Company Name: Institution: The King`s Company Assessment of the labor market is one of the crucial analyses the King Company needs to conduct in setting up a new facility to ensure the current problem of the labor cost does not recur. Additionally, the company needs to ensure that it sets up the facility in the most diverse location so that they will not have a challenge of diversity which has become a significant aspect in the business and one of the qualifying criteria in winning the market share among the consumers. Besides, it is also significant to ensure that the facility is set up in a location which has a large population to ease the hustle of getting the workforce necessary for the success of the company. The assumptions are that the location of a large population, ethnically diverse, as well as the in-commute and out-commute population, will provide the necessary labor requirements for the company. Furthermore, other demographic considerations include the unemployment rate as well as the unemployment rates which are crucial components of diversity in addition to skills. Consequently, setting up a facility in Detroit will be a good strategy as the city will provide the company with the population necessary for the labor requirements. For instance, of all the areas surrounding Detroit where the company could set its facility, the area has the largest population of more than 600,000 people, of which more than 200,000 form the labor force of the city (Murembya & Guthrie, 2015). Besides, the city also has the largest number of population which is an unemployed population of almost 15% which means getting labor for the facility will be much
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