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Abstract
Economic progress is essentially the result of rational interaction between man and nature. The creative contributions facilitated by such productive functions depend greatly on many factors and parameters. Among them, labour has an energetic role to play. Labour, with its vast potentials leading to admirable advantages, is rightly regarded as capable of transforming and even reforming world economies over the years. As manual labour was overwhelmingly the most important factor in the generation of wealth, the labourers, artisans, servants and peasants who performed it were recognised to be the most valuable treasure of a country.1 Labour economics is a popular branch of economics with theoretical validity and practical utility. As a logical extension, construction economics also has been thriving with useful insights. This branch of economics has gained strategic significance in due course as it reveals spectacular analytical strides. Construction economics consists of the application of the techniques and expertise of economics to the study of the construction firm and f process and the construction industry.