Don’t Miss Your Chance to Read ILR Review’s Symposium on Skill Shortages and Mismatches for Free!

ILR_72ppiRGB_powerpointThere’s still time to read ILR Review‘s Symposium on Skill Shortages and Mismatches for free! Are the complaints over the supply of education-related skills in the U.S. labor force warranted? Is skill mismatch delaying the United States economy’s return to health? Is vocational education actually effective at facilitating transitions into employment? These questions are explored in the Symposium.

From the introduction to the issue:

In recent years, some employers, researchers, and policymakers have raised concerns about a shortage of skilled workers in the United States. In some instances, the supposed shortage takes the form of poor literacy and numeracy skills among young people making the transition from school to work. In other cases, employers have complained about an insufficient supply of technically trained workers, while policymakers have voiced concerns about a dearth of students pursuing science, technology, and mathematics (STEM) fields. Related to possible shortages at the aggregate level is the potential problem of mismatches between the skills workers have and those demanded by firms. These concerns, if valid, have important implications for macroeconomic policy as well as for the long-run standard of living of U.S. workers.

On macroeconomics, some policymakers have suggested that the run-up in unemployment and the increase in long-term unemployment associated with the Great Recession were caused by an increasing degree of mismatch between the skills demanded by firms and those supplied by workers. This mismatch is one source of what is commonly known as structural unemployment and can in principle be remedied by increasing workers’ skills or by improving the labor market matching process. If much of the unemployment we have seen since 2008 is indeed structural, then there may be limits on the potential effectiveness of traditional fiscal and monetary policies for alleviating unemployment. Instead, investment in worker skills or in streamlining employment transitions (e.g., through increased geographic mobility or better information about jobs and worker skills) would be needed. Concerning the living standards of workers, if there is indeed a shortage of skilled workers, then investment in skills may have long-run payoffs that more than justify the cost of the investments and may raise living standards. Moreover, if there is substantial mismatch between workers’ skills and employers’ demands, then investment in the matching process may help the labor market work more efficiently. If, however, skill shortages and mismatches are not so important empirically, then there may be considerable scope for expansionary monetary and fiscal policies as tools to combat joblessness.

You can read the Symposium on Skill Shortages and Mismatches from ILR Review for free for the next 30 days. Click here to view the Table of Contents. Like what you read? Click here to sign up for e-alerts and have notifications of all the latest research from ILR Review sent directly to your inbox!

This entry was posted in Economics, Education, Employees, Labor, Labor Supply, Management, Performance, Unemployment and tagged , , , by Cynthia Nalevanko, Editor, SAGE Publishing. Bookmark the permalink.

About Cynthia Nalevanko, Editor, SAGE Publishing

Founded in 1965, SAGE is the world’s leading independent academic and professional publisher. Known for our commitment to quality and innovation, SAGE has helped inform and educate a global community of scholars, practitioners, researchers, and students across a broad range of subject areas. With over 1500 employees globally from principal offices in Los Angeles, London, New Delhi, Singapore, Washington DC, and Melburne, our publishing program includes more than 1000 journals and over 900 books, reference works and databases a year in business, humanities, social sciences, science, technology and medicine. Believing passionately that engaged scholarship lies at the heart of any healthy society and that education is intrinsically valuable, SAGE aims to be the world’s leading independent academic and professional publisher. This means playing a creative role in society by disseminating teaching and research on a global scale, the cornerstones of which are good, long-term relationships, a focus on our markets, and an ability to combine quality and innovation. Leading authors, editors and societies should feel that SAGE is their natural home: we believe in meeting the range of their needs, and in publishing the best of their work. We are a growing company, and our financial success comes from thinking creatively about our markets and actively responding to the needs of our customers.

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