Labour economics,or labor economics,seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers,usually in exchange for a wage paid by demanding firms. Because these labourers exist as parts of a social,institutional,or political system,labour economics must also account for social,cultural and political variables.
Retraining or refresher training is the process of learning a new or the same old skill or trade for the same group of personnel. Retraining is required to be provided on a regular basis to avoid personnel obsolescence due to technological changes and the individuals' memory capacity. This short-term instruction course shall serve to re-acquaint personnel with skills previously learnt or to bring their knowledge or skills up-to-date (latest) so that skills stay sharp. This kind of training could be provided annually or more frequently as maybe required,based on the importance of consistency of the task of which the skill is involved. Examples of refreshers are cGMP,GDP,HSE trainings. Retraining shall also be conducted for an employee,when the employee is rated as ‘not qualified’for a skill or knowledge,as determined based on the assessment of answers in the training questionnaire of the employee.
Employability refers to the attributes of a person that make that person able to gain and maintain employment.
Soft skills,also known as power skills,common skills,essential skills,or core skills,are psychosocial skills generally applicable to all professions. These include critical thinking,problem solving,public speaking,professional writing,teamwork,digital literacy,leadership,professional attitude,work ethic,career management and intercultural fluency. This is in contrast to hard skills,which are specific to individual professions.
Employment discrimination is a form of illegal discrimination in the workplace based on legally protected characteristics. In the U.S.,federal anti-discrimination law prohibits discrimination by employers against employees based on age,race,gender,sex,religion,national origin,and physical or mental disability. State and local laws often protect additional characteristics such as marital status,veteran status and caregiver/familial status. Earnings differentials or occupational differentiation—where differences in pay come from differences in qualifications or responsibilities—should not be confused with employment discrimination. Discrimination can be intended and involve disparate treatment of a group or be unintended,yet create disparate impact for a group.
Immigration is the international movement of people to a destination country of which they are not usual residents or where they do not possess nationality in order to settle as permanent residents. Commuters,tourists,and other short-term stays in a destination country do not fall under the definition of immigration or migration;seasonal labour immigration is sometimes included,however.
The economic results of migration impact the economies of both the sending and receiving countries.
The Skills Development Act97 of 1998 is a law enacted in South Africa in 1998.
In economics,a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist,which can influence the price for its buyers in a monopoly,where multiple buyers have only one seller of a good or service available to purchase from.
Joan Muysken is a Dutch professor emeritus of Economics at the Maastricht University.
Brendan J Burchell is a professor at the Faculty of Human,Social,and Political Science at the University of Cambridge and a professorial fellow of Magdalene College,Cambridge. He was a director of graduate education in sociology 2008–2012 and head of the department of sociology from October 2012 to October 2014. Burchell is the current director of studies in politics and sociology for Magdalene College and was the director of the Cambridge Undergraduate Quantitative Methods Centre (CUQM) between 2014 and 2018.
Alan Manning is a British economist and professor of economics at the London School of Economics.
Youth unemployment is the situation of young people,usually including those aged 15–24 years,being unable to find work. It is often considered separately from unemployment among the general population,because the reasons for which young people cannot find work are often distinct,and unemployment affects them differently. Unemployment rates for young people are higher than those of adults almost everywhere,but differ greatly between countries and regions.
TVET refers to all forms and levels of education and training which provide knowledge and skills related to occupations in various sectors of economic and social life through formal,non-formal and informal learning methods in both school-based and work-based learning contexts. To achieve its aims and purposes,TVET focuses on the learning and mastery of specialized techniques and the scientific principles underlying those techniques,as well as general knowledge,skills and values.
Hessel Oosterbeek is a Dutch economist. He currently works as Professor of Economics at the University of Amsterdam. In particular,Oosterbeek has conducted extensive research on the returns to schooling,the economics of training,investment contracts,and overeducation and has performed impact evaluations for various interventions in especially education. Oosterbeek ranks among the most-cited Dutch economists and the world's leading education economists.
Pierre Cahuc is a French economist who currently works as Professor of Economics at Sciences Po. He is Program Director for the IZA Institute of Labor Economics's programme "Labour Markets" and research fellow at CEPR. His research focuses mainly on labour economics and its relationship with macroeconomics. In 2001,he was awarded the Prize of the Best Young Economist of France for his contributions to economic research. He belongs to the most highly cited economists in France and Europe's leading labour economists.
Francis Kramarz is a French economist who works as Professor at the École Nationale de la Statistique et de l'Administration Économique (ENSAE),where he has been directing the Center for Research in Economics and Statistics (CREST). He is one of the leading labour economists in France.
The National Policy on Skill Development is an umbrella framework devised by the Government of India to develop employable skills among the youth of the country through learning and producing workers adequately skilled to meet the requirements of industry. India has traditionally had a lower percentage of population of appropriately skilled workers comparable to other economies of the world. In its 11th five-year plan for the financial year 2007-12 suggested actions to increase the skilled workforce in the country to 15 million annually and targeted to skill 150 million people by 2022. In line with the recommendations in the five-year plan and to mitigate the challenges faced by the economy of the shortage of the skilled workforce. The government formulated a skill development policy in 2009,with emphasis given to special courses to be imparted through Industrial Training Institutes in partnership with the private sector.
James Malcomson is a British-Irish economist. He is emeritus Professor of Economics at the University of Oxford and emeritus Fellow of All Souls College. He is a specialist in the fields of labour economics and contract theory.
Sustainable employability generally refers to employees’capacities to function in work and on the labor market throughout their working lives. The topic emerged in response to population aging and the pressure that puts on retirement systems. This pressure requires the maximization of participation in paid work to be able to maintain valued retirement systems and other societally valued institutions. Consequently,research in this topic area focuses on identifying aspects of an employment situation (i.e.,the work,work context,and individuals themselves,that prevent harm to individuals' ability to function at work and on the labor market. The purpose of this research is to ultimately develop interventions,in organizations that enable individuals to work in ways that are beneficial - or at least not harmful - to both themselves and the organizations they may be employed in. Much of the initial research has concentrated on older workers as this specific group was considered to need the most immediate attention. However,later work questions whether age really place such an important role in sustainable employability.
