Express 0.004562 in three decimal places.

Labor market where workers sell labor and employers buy it. Wage is price of labor. Supply: people willing to work at various wages. Demand: employers willing to hire at various wages. Equilibrium wage where supply meets demand.

Factors affecting wages: productivity, skills and education, bargaining power (unions), minimum wage laws, labor scarcity, working conditions. Different jobs pay differently based on these factors.

Nigerian labor issues: high unemployment (especially youth), informal sector dominates, brain drain (skilled workers emigrate), minimum wage disputes, job quality concerns. Employment creation is major policy challenge.