EIB Working Papers 2019/05 - Skill shortages and skill mismatch in Europe PDF Download

Author: European Investment Bank
Publisher: European Investment Bank
ISBN: 9286142714
Category : Business & Economics
Languages : en
Pages : 87

View

Book Description
Labour markets are undergoing structural transformation due to globalisation, demographic trends, advancing digital technologies and automation and changes in labour market institutions. Against this background, businesses increasingly report that the limited availability of skills poses an impediment to corporate investment. Genuine skill constraints can negatively affect labour productivity and hamper the ability to innovate and adopt technological developments. For individual Europeans, not having "the right skills" limits employability prospects and access to quality jobs. For Europe at large, persistent skill gaps and mismatches come at economic and social costs. This paper reviews the recent economic literature on skill mismatch and skill shortages, with a focus on Europe. It questions: how the job requirements of individuals can be measured; whether skill shortages stated by employers reflect the lack of suitable candidates or are due instead to the wage and working conditions being offered; what economic costs are posed by skill mismatch and shortages; and how policy can address the issue of skills, including the role of EU policies.

Author:
Publisher:
ISBN: 9789286142727
Category :
Languages : en
Pages :

View

Book Description
This paper reviews the recent economic literature on skill mismatch and skill shortages with a focus on Europe. The review starts with a conceptual overview of skill mismatch and skill shortages and how to measure them. An issue discussed in the first section is the measurement of job requirements, i.e. a demand side variable, that some authors compute using surveys of individuals, which typically collect information on the supply side (educational attainment, foundation skills). Individuals, however, do not often have a reliable view of job requirements, and may actually have an incentive to inflate them. Another issue is whether skill shortages stated by employers reflect the lack of suitable candidates among job seekers or are due instead to the wage and working conditions being offered.

Author: Lisa De Propris
Publisher: Routledge
ISBN: 0429603584
Category : Business & Economics
Languages : en
Pages : 225

View

Book Description
This edited volume brings together a group of expert contributors to explorebthe opportunities and the challenges that Industry 4.0 (smart manufacturing) is likely to pose for regions, fi rms and jobs in Europe. Drawing on theory and empirical cases, it considers emerging issues like servitization, new innovation models for local production systems and the increase in reshoring. Industry 4.0 and Regional Transformations captures the complexity of this new manufacturing model in an accessible way and considers its implications for the future. It will be essential reading for advanced students and researchers and policy makers in regional studies, industrial policy, economic geography, innovation studies, operations management and engineering.

Author: Giorgio Brunello
Publisher:
ISBN:
Category :
Languages : en
Pages :

View

Book Description
Labour markets are currently in a phase of cyclical recovery and undergoing structural transformation due to globalisation, demographic trends, advancing digital technologies and automation and changes in labour market institutions. Against this background, businesses increasingly report that the limited availability of skills poses an impediment to corporate investment. Genuine skill constraints can negatively affect labour productivity and hamper the ability to innovate and adopt technological developments. For individual Europeans, not having "the right skills" limits employability prospects and access to quality jobs. For Europe at large, persistent skill gaps and mismatches come at economic and social costs. This paper reviews the recent economic literature on skill mismatch and skill shortages with a focus on Europe a focus on Europe.

Author: Panagiotis E. Petrakis
Publisher: Springer Nature
ISBN: 3031049381
Category : Business & Economics
Languages : en
Pages : 321

View

Book Description
The role of human capital has diversified considerably in the last 100 years. Today, the prevailing perception seeks a sustainable, integrated development which is based on the triptych of environment, economy, and society. In this mode of development, human capital has a positive effect on the economy, on social cohesion and optimal governance, as well as on the ecological footprint. This book studies the critical role of human capital in the Greek economy and its production structure. In doing so, this book analyzes the Greek labor market, employment, and structural changes, among other facets of this vibrant economy.

Author: European Investment Bank
Publisher: European Investment Bank
ISBN: 9286144679
Category : Business & Economics
Languages : en
Pages : 634

View

Book Description
The Investment Report, issued annually by the European Investment Bank, provides a comprehensive overview and analysis of investment and the financing of investment in the European Union. It combines the exploration of investment trends with in-depth analysis, focusing especially on the drivers and barriers to investment activity. The report leverages on a unique set of databases and survey data, including EIBIS, an annual survey of 13 500 firms in Europe, which focuses on their assessment of investment and investment finance conditions, and which allows analysis with firm balance sheet information. The report provides critical inputs to policy debates on the need for public action on investment, and on the types of intervention that can have the greatest impact.

Author:
Publisher:
ISBN: 9789279774379
Category :
Languages : en
Pages :

View

Book Description
This paper analyses different dimensions of skills mismatch (notably ‘macro-economic skills mismatch’, ‘skills shortages’, and ‘on-the-job skills mismatch’) and their empirical relationship with labour productivity. Macro-economic skills mismatch arises when the skills distribution differs between the available workers and those that get hired. Skills shortages occur when employers encounter difficulties to fill their vacancies. On-the-job skills mismatch (overqualification or underqualification) refers to a discrepancy between the qualification level of a jobholder and the requirements for that particular job. Our data suggest that certain types of skills mismatch are indeed on the rise in the EU, notably skills shortages and overqualification. Other types are on a long-term declining trend (e.g. underqualification) or follow more complex patterns over time (e.g. macro-economic skills mismatch). There are also significant differences across EU Member States in the levels of these indicators. We further suggest that theoretical predictions on the relationship between skills mismatch and productivity depend on the dimension of skills mismatch considered. Our empirical analysis suggests a negative relationship between macro-economic skill mismatch and labour productivity and – as a sign of a buoyant economy - a positive relationship between skills shortages and labour productivity. With regard to on-the-job skills mismatch, our data confirm earlier findings from the economic literature: when comparing a mismatched with a well-matched worker within the same occupation, overqualification raises and underqualification reduces productivity. When comparing a mismatched with a well-matched worker within the same qualification level, overqualification reduces and underqualification increases productivity. Our results imply a positive link between skills supply and productivity. However, to realise the full potential of higher skills, skills should be labour market relevant and skilled workers need to be matched with jobs that use these skills. Therefore, upskilling policies should ideally be accompanied by policies that assure quality and labour market relevance of acquired skills, policies that foster a general upgrading of jobs such as business regulations allowing for firm entry, growth, sectoral reallocation, and policies supporting labour mobility and innovation.

Author:
Publisher:
ISBN:
Category : Labor supply
Languages : en
Pages : 122

View

Book Description

Author:
Publisher:
ISBN: 9789289625203
Category :
Languages : en
Pages :

View

Book Description
This publication focuses on a topic of critical concern for policy-makers in recent years: skill mismatch. Cedefop has been active in skill mismatch research and analysis for almost a decade now, identifying significant areas of concern and contention surrounding the issue, including clarification of key concepts. It has also engaged in original data collection and analysis, resulting in several publications. Most prominently, in spring 2014 Cedefop undertook the first European skills and jobs survey (ESJS), a large-scale primary data collection of about 49 000 adult employees in 28 EU Member States. This report summarises many of the insights gained by closer empirical scrutiny of this new European data set. We focus on skill mismatch because the economic crisis, with its mass destruction of jobs in some sectors, was associated with a significant decline in employment for individuals with lower qualifications and skills. The average duration of unemployment was extended and long-term unemployment, primarily comprising the lower-educated, expanded to a wide range of employees at all levels. In some EU countries traditional modes of production and business models have been disrupted greatly. Research revealed that these growing labour market imbalances have seeped into higher structural unemployment rates, with the consequence of exacerbated concern that skill mismatch is worsening in the EU. Shifts in skill demand and supply have been reflected in the stated inability of employers to fill their vacancies with people that have the right skills. Data repeated by several sources indicated that four in 10 EU employers said in 2013 that they have difficulty finding the right skills when recruiting. When looking to the future, further concern arises that Europe may be unprepared for the evolution of a new digitalised economic reality. For example, Cedefop's European skills forecasting model projects that by 2025 about 48% of all job opportunities in Europe will need to be filled by individuals with tertiary-level qualifications. The ESJS also shows that about 85% of all EU jobs need at least a basic digital skills level. It is visible, even to the untrained eye, that unripe technological advances, such as machine learning, big data analytics, the internet of things and advanced robotics, together with restructuring in global value chains, are reshaping the world of work as we know it today. Existing research on skill mismatch has revealed that there are sizeable differences in the magnitude and economic costs of the many different types of skill mismatch. One-size-fits-all policies are unlikely to be effective as EU countries tend to suffer from different forms of the problem but it is clear that undertaking policies to reduce skill mismatch can result in sizeable efficiency gains. A Cedefop estimate, based on the ESJS, has shown that the existing skills of the EU's workforce fall about one fifth short of what is needed for workers to carry out their jobs at their highest productivity level. This calls for concerted action to stimulate further adult learning in Europe.

Author: Commission of the European Communities. Industrial Research and Development Advisory Committee
Publisher:
ISBN:
Category : Employees
Languages : en
Pages : 68

View

Book Description