The total civilian labor force is comprised of employed civilian workers and unemployed workers. Discouraged workers, military personnel, federal government employees, agricultural workers, retirees, and handicapped people are not included in the civilian labor force.
Civilian workers include private-sector workers and state and local government workers.
Job specialization is needed when we want to be sure that specific job is performed by the person who have desired skills. In large organization its needed to structure teams, to assign tasks to people with right skills, to deliver work in efficient way.
Financial Intermediation is a method of wealth distribution common to Banks, where money deposited by it's customers is given out as loan to investors/individuals. The Banks are known as Financial Intermediaries as they are actively involved in wealth distribution.
