The Market for Skilled Labour and the Trade Cycle

Philip Lewis

Research output: Contribution to journalArticle

Abstract

Although experiencing trade cycles, Australia is almost unique in maintaining 20 years of positive economic growth and has survived the global financial crisis relatively unscathed. The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy from reaching its full potential level of output and putting pressure on inflation. Economic growth, structural change and technological change have had important effects on skills mix. This paper concentrates on the extent to which the market for skilled labour has adjusted to changed economic conditions. It uses unique data covering different stages of the business cycle from 1991, the middle of a recession; 1996, the recovery; 2001, the boom; and 2006, severe skill shortages. In particular, the impact on different dimensions of skills mix and the role of earnings are examined. The analysis is of general interest since the findings shed light on, more generally, how labour markets work
Original languageEnglish
Pages (from-to)468-477
Number of pages10
JournalInternational Journal of Economics and Business Research
Volume3
Issue number4
DOIs
Publication statusPublished - 2011

Fingerprint

Economic growth
Skilled labor
Skills shortages
Market work
Technological change
Recession
Global financial crisis
Labour market
Business cycles
Inflation
Economic conditions
Structural change
Economics

Cite this

@article{c59c6c2e10084b9eb467eda1ea6a9d9d,
title = "The Market for Skilled Labour and the Trade Cycle",
abstract = "Although experiencing trade cycles, Australia is almost unique in maintaining 20 years of positive economic growth and has survived the global financial crisis relatively unscathed. The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy from reaching its full potential level of output and putting pressure on inflation. Economic growth, structural change and technological change have had important effects on skills mix. This paper concentrates on the extent to which the market for skilled labour has adjusted to changed economic conditions. It uses unique data covering different stages of the business cycle from 1991, the middle of a recession; 1996, the recovery; 2001, the boom; and 2006, severe skill shortages. In particular, the impact on different dimensions of skills mix and the role of earnings are examined. The analysis is of general interest since the findings shed light on, more generally, how labour markets work",
keywords = "Skilled Labour, Trade Cycles, Rates of Return",
author = "Philip Lewis",
year = "2011",
doi = "10.1504/IJEBR.2011.040955",
language = "English",
volume = "3",
pages = "468--477",
journal = "International Journal of Economics and Business Research",
issn = "1756-9850",
publisher = "Inderscience Publishers",
number = "4",

}

The Market for Skilled Labour and the Trade Cycle. / Lewis, Philip.

In: International Journal of Economics and Business Research, Vol. 3, No. 4, 2011, p. 468-477.

Research output: Contribution to journalArticle

TY - JOUR

T1 - The Market for Skilled Labour and the Trade Cycle

AU - Lewis, Philip

PY - 2011

Y1 - 2011

N2 - Although experiencing trade cycles, Australia is almost unique in maintaining 20 years of positive economic growth and has survived the global financial crisis relatively unscathed. The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy from reaching its full potential level of output and putting pressure on inflation. Economic growth, structural change and technological change have had important effects on skills mix. This paper concentrates on the extent to which the market for skilled labour has adjusted to changed economic conditions. It uses unique data covering different stages of the business cycle from 1991, the middle of a recession; 1996, the recovery; 2001, the boom; and 2006, severe skill shortages. In particular, the impact on different dimensions of skills mix and the role of earnings are examined. The analysis is of general interest since the findings shed light on, more generally, how labour markets work

AB - Although experiencing trade cycles, Australia is almost unique in maintaining 20 years of positive economic growth and has survived the global financial crisis relatively unscathed. The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy from reaching its full potential level of output and putting pressure on inflation. Economic growth, structural change and technological change have had important effects on skills mix. This paper concentrates on the extent to which the market for skilled labour has adjusted to changed economic conditions. It uses unique data covering different stages of the business cycle from 1991, the middle of a recession; 1996, the recovery; 2001, the boom; and 2006, severe skill shortages. In particular, the impact on different dimensions of skills mix and the role of earnings are examined. The analysis is of general interest since the findings shed light on, more generally, how labour markets work

KW - Skilled Labour

KW - Trade Cycles

KW - Rates of Return

U2 - 10.1504/IJEBR.2011.040955

DO - 10.1504/IJEBR.2011.040955

M3 - Article

VL - 3

SP - 468

EP - 477

JO - International Journal of Economics and Business Research

JF - International Journal of Economics and Business Research

SN - 1756-9850

IS - 4

ER -