Chapter

Labour markets

Philip N. Jefferson

in Poverty: A Very Short Introduction

Published in print July 2018 | ISBN: 9780198716471
Published online July 2018 | e-ISBN: 9780191785078 | DOI: https://dx.doi.org/10.1093/actrade/9780198716471.003.0005

Series: Very Short Introductions

Labour markets

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For most people, their performance in the labour market determines their station in life. What determines who earns what in the labour market? Are there systemic impediments that inhibit the ability of particular groups to prosper in the labour market? What is the role of education, skills, race, and gender? Are there ways to make the financial return on work greater regardless of skill level? If skills are lacking, are there policies that directly help to close skill gaps? ‘Labour markets’ considers these questions and concludes that a goal of labour market policy is to create pathways out of poverty. Well-functioning labour markets facilitate the economic mobility of people over the course of their lifetimes and across generations.

Keywords: Kenneth Joseph Arrow; Gary Becker; immigration; International Labour Organization; labour markets; social stratification

Chapter.  5818 words.  Illustrated.

Subjects: Welfare and Poverty ; Social Stratification, Inequality, and Mobility ; Poverty

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