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Review of Concepts and Approaches in Labour Market Analysis Pundy Pillay

Review of Concepts and Approaches in Labour Market Analysis Pundy Pillay. Outline. Labour Supply Labour Demand Defining the Labour Force Employment Unemployment Approaches to LM Analysis BankSeta Challenges. Labour Supply. Defining the LS Factors influencing LS Population Growth

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Review of Concepts and Approaches in Labour Market Analysis Pundy Pillay

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  1. Review of Concepts and Approaches in Labour Market AnalysisPundy Pillay

  2. Outline • Labour Supply • Labour Demand • Defining the Labour Force • Employment • Unemployment • Approaches to LM Analysis • BankSeta Challenges

  3. Labour Supply • Defining the LS • Factors influencing LS • Population Growth • Level of Development • Education & Skills • Social Policy, esp. rel. to women

  4. Labour Demand • Definition • Factors influencing LD • Economic Growth • Economic Policy –e.g. export-driven; industrialization • Product Market

  5. Labour Demand (contd.) 4.Social Policy – e.g. teachers, doctors 5. Technology 6. Labour Costs 7. Skills

  6. Labour Supply & Demand Patterns in South Africa • Labour Supply • Population • Age composition of the labour force • Education levels and skill composition

  7. Contd…. • Labour Demand • Economic Growth • Economic Policy • Education & Skills • Technology, Occupation & Skills • Unions & Minimum Wages

  8. The Labour Force • Defining the Labour Force/e.a.p. • Labour Force Participation Rate • Factors influencing the LFPR

  9. Employment • Definition • Trends • Formal vs informal • Education & Employment

  10. Unemployment • Definition • Types of unemployment • Frictional • Structural • Seasonal • Cyclical • Voluntary vs Involuntary • Measuring Unemployment

  11. Approaches to LM Analysis • Labour Supply + Labour Demand • Skills Development and LM Analysis • Macro-factors • Economic Growth • Economic Policy • Social Policy • Technology • Education & Skills

  12. BankSeta Challenges General Challenges • Data • Understanding both sides of the LM – supply & demand • General vs Specific Skills • Skills and Occupation • Forecasting skills – possibilities and limitations

  13. Contd. – Specific Challenges • Sectoral data • Changes in the product market & skills • Impact of technology • Labour costs • Labour Productivity • Growth and the demand for labour

  14. Summary – key determinants of employment & unemployment • Education and Skills • Technology • Location/region • Gender • Race • Socio-economic status

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