Changes in population demographics have profound effects on labour supply. An aging population, for instance, can lead to a decline in the overall labour supply as the proportion of retirees increases relative to the working-age population. This demographic shift can result in labour shortages in certain industries, particularly those requiring physical labour or specialised skills. On the other hand, a younger population demographic can lead to a surplus in labour supply, especially if the education and training systems are not aligned with the needs of the job market, leading to higher unemployment rates among young people. Additionally, demographic changes can influence the types of jobs in demand. For example, an aging population may increase the demand for healthcare services and retirement planning, thereby influencing the supply of labour in these sectors.

The cost of living in an area has a significant impact on labour supply. High cost of living areas, such as major cities, often need to offer higher wages to attract and retain workers, as individuals need sufficient income to afford housing and other living expenses. This phenomenon can lead to geographical imbalances in labour supply, with certain regions struggling to attract workers due to high living costs, despite potentially offering higher wages. Conversely, areas with a lower cost of living might attract a larger supply of labour, even if wages are relatively lower, because the workers' purchasing power is greater. Additionally, the cost of living can influence the type of labour supply in an area; for example, areas with high housing costs might see a decrease in young workers or families but an increase in single professionals or dual-income households without children.

Immigration policies play a crucial role in shaping the labour supply, especially in sectors that rely significantly on migrant workers. Strict immigration policies can lead to a reduction in the number of foreign workers entering the country, thereby decreasing the overall labour supply, particularly in industries like agriculture, healthcare, and construction, where there is often a high demand for migrant labour. On the other hand, more liberal immigration policies can increase the labour supply by allowing a greater number of immigrants to enter the workforce. This not only helps in filling skill gaps in certain sectors but also contributes to the diversity and flexibility of the labour force. Additionally, the impact of immigration on the labour supply is also influenced by the skill level of the immigrants; policies that favour highly skilled immigrants can lead to an increase in the supply of labour in specialised fields.

Technological advancements significantly influence non-wage factors impacting labour supply. Firstly, they can improve work-life balance through flexible working arrangements, such as remote working, which is particularly attractive to individuals with family responsibilities or those seeking a better work-life balance. Secondly, advancements in technology can lead to safer and more efficient working conditions, making certain jobs more appealing. For instance, automation in manufacturing reduces the need for physically strenuous and hazardous tasks, thereby attracting a wider range of the workforce. Additionally, technology facilitates better training and education opportunities, allowing workers to upgrade their skills more conveniently, which in turn can lead to increased labour market participation. However, it's important to note that while technology can make some jobs more attractive, it can also render others obsolete, thereby affecting the supply of labour in those sectors.

Psychological factors can significantly affect labour supply. For example, job satisfaction and work motivation are key psychological factors that influence an individual's decision to enter or remain in the labour force. High levels of job satisfaction can lead to increased workforce participation and reduced turnover, while low job satisfaction might result in higher absenteeism and a reduced willingness to work. Additionally, societal attitudes and perceptions regarding certain jobs can influence labour supply. If a profession is highly respected and valued within a society, it may attract more individuals, whereas occupations with negative societal perceptions might struggle to attract workers. Moreover, psychological conditions like stress and burnout can reduce labour supply, as affected individuals may opt for jobs with less pressure or even exit the workforce temporarily or permanently. Therefore, employers and policymakers need to consider the psychological aspects of work to effectively manage and influence labour supply.