Labour market

The labour market figures have remained strong. The ILO measure of unemployment has fallen below 7%, ending the first phase of forward guidance, while employment growth remains solid. Vacancies continue to rise and business surveys report rising demand for labour across all sectors…     

Labour market

The rapid improvement in the labour market has started to peter out. The latest Labour Force Survey data, for the three months to May, showed that the level of employment increased by just 16,000 on the quarter, compared to average increases of over 80,000 a quarter over the past year, while the unemployment rate was stable at 7.8%…     

Labour market recruiting with intermediaries

We consider a Rothschild–Stiglitz–Spence labour market model and employ a centralised mechanism to coordinate the efficient matching of workers to firms. This mechanism can be thought of as operated by a recruitment agency, an employment office or head hunter. In a centralised descending-bid, multi-item procurement auction, workers submit wage-bids for each job and are assigned stable jobs as equilibrium outcome. We compare this outcome to independent, sequential hiring by firms and conclude that, in general, a stable assignment can only be implemented if firms coordinate to some extent.      

Labour market segmentation and wage dynamics

The article contains results of a quantitative empirical investigation into the effects of labour market segmentation on wage dynamics in total industry as well as in several industrial branches in West Germany. By testing correlations between several indicators of earnings and the labour market it is shown that wage dynamics, in so far as they are determined by shop floor bargaining, can be explained at least as well and partly even better by indicators of certain partial labour markets than by conditions of the general labor market (i.e. the traditional Philipps approach).     

Labour market signalling and job turnover revisited

Turnover by both low and high productivity workers occurs in all jobs. However, the reasons for turnover by workers of different abilities differ. When the probability that better workers transmit accurate signals to the labour market increases, we show that incumbent employers are more likely to adopt a separating wage offer strategy. This reduces the likelihood of turnover by more productive workers. We also show that turnover depends on a firm's willingness to match outside wage offers. Hence, the personnel and wage policies adopted by employers are important for understanding the turnover of workers of all productivity types.     

Labour market institutions and employment in France

The purpose of this paper is to use individual data to study how the minimum wage and the welfare system combine to affect employment in France. Using the 1997 Labour Force Survey, we decompose non‐employment of married women into three components: voluntary, classical (due to the minimum wage) and ‘other’ (a residual category). We find that the minimum wage explains close to 15% of non‐employment for these women and that the disincentive effects of some welfare policy measures may be large. Our approach also allows us to evaluate various labour and welfare policy experiments in their effects on participation and employment. Copyright © 2002 John Wiley & Sons, Ltd.     

Labour market dualism and industrial relations in Europe

This article studies the regulation of fixed‐term contracts and its effects on European industrial relations (2002–06). The study reveals a positive association between temporary employment and industrial conflict and evaluates three mechanisms that may account for this association in 18 European countries. The study reveals that the more these contracts are used, the lower the level of wages and job security workers can expect.     

Labour market flows: Facts from the United Kingdom

This paper documents a number of facts about worker gross flows in the United Kingdom for the period between 1993 and 2010. Using Labour Force Survey data, I examine the size and cyclicality of the flows and transition probabilities between employment, unemployment and inactivity, from several angles. I examine aggregate conditional transition probabilities, job-to-job flows, employment separations by reason, flows between inactivity and the labour force and flows by education. I decompose contributions of job-finding and job-separation rates to fluctuations in the unemployment rate. Over the past cycle, the job-separation rate has been as relevant as the job-finding rate.     

Labour market developments in the new EU Member States

The impact of the latest EU enlargements—with the arrival of 10 new Member States in May 2004 and the addition of Romania and Bulgaria in 2007—had been a subject of concern given their low initial living standards (around half the EU average). In practice, the experience has been largely positive, with strong inward investment and significant improvements in economic growth, employment and incomes, especially in the last two years. However, regional imbalances have worsened—notably between city regions and others—and job prospects for the unskilled have declined dramatically. Moreover, because industrial relations systems in the new Member States remain seriously underdeveloped, progress in embracing the EU social model (in all its diversity) is slow and uneven.     

Labour market oligopsonistic competition: The effect of worker immobility on wages

We suggest that firms in a local labour market may be able to exploit worker mobility costs and offer immobile workers wages that are lower than their marginal product. If so, the ability of employers to exploit worker immobility in setting wages would decline in the competitiveness of the local labour market. We test this intuition using a measure of individual mobility costs and measures of local labour market competition. Our findings suggest that worker immobility causes substantial wage variation across workers in small, weakly competitive markets, and in occupations where wages are individually bargained.     

Labour market enforcement in the 21st century: should whistleblowers have a greater role?

Labour market enforcement can be achieved through a variety of mechanisms. On the basis that inspectorates in the UK have been under‐resourced historically and that reliance on self‐regulation is particularly objectionable in sectors that have a record of providing low pay and poor working conditions, this article explores the potential for using whistleblowing by both workers and non‐workers as a method of enforcing labour standards. The author believes that, in principle, policing by inspectors working in conjunction with unions is particularly important in industries where small firms are prevalent and individuals may feel particularly vulnerable to retaliation if they speak up. Nevertheless, given the low likelihood of government inspections and low levels of unionisation in the private sector, it is suggested that enhancing the protection given to whistleblowers who report suspected wrongdoing might deter employer non‐compliance and prove cost effective.     

Labour flexibility and job market segmentation in Spain: a perspective from the labour demand side

The aim of this research is to conduct a quantitative analysis of the factors leading Spanish companies to adopt certain forms of organization that are typical of flexible businesses and high performance organizations. Despite the supposed inflexibility of the Spanish labour market, the results both point towards the high capacity of Spanish companies to select the form of work organization that best suits them and show the key role that competitive strategy plays when it comes to differentiating or segmenting types of work or workers, over and above the rigid working regulations that, purportedly, standardize labour relations in Spain.     

Labour Market

The pace of improvement in the labour market has stepped up in recent months in line with the stronger performance of the wider economy. The latest Labour Force Survey data, for the three months to November, showed that the level of employment increased by 280,000 on the quarter, the strongest growth on record, while the unemployment rate fell by 0.5 percentage points over the same period to 7.1%…     

Labour Must Re-cycle Itself

Government obstructions to the mobility of labour risk stagnation of skills and reduction of investment in human capital. The Government must encourage investment through tax allowances, de-regulation of the housing market, relaxation of restrictive work practices.     

解读斯密分工理论,构建社会和谐分工

劳动分工不是一个新的论题,我们的前人早已看到了分工的重要性,分工是社会发展的需要。政治经济学之父亚当·斯密在《国富论》中阐述了分工理论,现在读来其思想的闪光点依然为我们所见。本文引入斯密分工理论,结合现实,提出新时代的分工思想,对建立社会劳动和谐分工作一探讨。     

Educational Development and Labour Markets

For over a century and a half, there have been cyclical phases ofsaturation and shortage in the numbers of students enrolled at German and Prussian universities. Starting from thisobservations, this article constructs a neoclassical glutting theory. A two-fold hypothesis is put forward. Firstly,the behaviour of students in their choice of curriculum depends on the expected rewards. Indeed, the allocation of studentsto the various faculties depends on the comparative yields of the latter in terms of expected earnings and job availabilityin the corresponding professional sectors. Thus, the rewards expected by a student are represented by the earnings on thelabour market at a given moment and that he or she considers to be sustainable in time. Secondly, an attraction phenomenonmay appear for certain curricula when a shortage occurs in different professional sectors. Once the shortagehas been made up, the demand effect continues as a result of delay in the perception of the situation by young people.This may gradually lead to comparative over-production of qualifieduniversity leavers. This unbalanced situation diverts new cohorts ofstudents to other sectors ofeducation and may cause a new shortage, finally resulting in acyclical movement modulated according to job availability.