Naslov
Do Labour Market Differences according to Education levels differ from aggregate trends?

Autori
Obadić, Alka ; Viljevac, Viktor

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
Abstracts of FEB Zagreb 14th International Odyssey Conference on Economics and Business / Danijela Ferjanić Hodak, Ivana Pavić, Petra Halar - Zagreb : Faculty of Economics & Business, 2023, 31-32

ISBN
978-953-346-202-8

Skup
14th International Odyssey Conference on Economics and Business

Mjesto i datum
Poreč, Hrvatska, 10.05.2023. - 13.05.2023

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Beveridge curves, educational levels, structural unemployment, vacancies, EU countries

Sažetak
Rapidly advancing technological progress, especially the increasing dominance of artificial intelligence, leads to an even faster mismatch between the labour market needs and the existing competencies and skills offered by employed and unemployed workers. Such circumstances are becoming an increasing threat to economic growth and development, considering that in the long term, such a situation can strongly influence the increase of structural unemployment in the economy. One of the important ways to reduce structural unemployment lies in improving the educational and skill levels of the workforce. The correlation between education and better employability is a continuous characteristic of the labour market and has been confirmed numerous times in many social and economic studies. Labour market differences according to education levels can differ from aggregate trends due to several reasons, including labour market demand, state of the economy, geographic or social factors, etc. The paper examines labour market trends and differences according to education levels on a national case- by-case level. The analysis includes five EU countries - Austria, Croatia, Estonia, Slovenia, and Spain for which registered disaggregated monthly data from 2010 to 2022 according to ISCED education levels were available to us. The focus of this paper is to indicate at which level of education there is the best connection between the needs of employers and unemployed job seekers in order to fill vacancies. The research is divided into two parts. In the first part, we construct the Beveridge curves for the aggregate labour market of each observed country. In the second part, we construct the disaggregated Beveridge curves by education groups. The results are not perfectly comparable between the countries due to the different availability of data at the individual disaggregated level for each of the selected countries. The disaggregated data for individual countries are not unique due to the different ways of defining individual education levels, especially regarding the collection of data on job vacancies. Namely, employers do not express their needs about vacancies in detail disaggregated by all nine ISCED levels. The results show that differences in education levels result in relatively small deviations from aggregate general trends in the national labour markets. Aggregate labour market trends on the national level, therefore, have a strong impact on all groups segmented by education levels. The results confirm that the period before the 2020 COVID-19 crisis in the observed countries was characterised by labour market improvements which appeared as decreasing unemployment and increases in vacancies, and this trend is visible in all education groups. 2020 was marked by the worsening of the labour market conditions, which is also visible amongst the different education groups. A similar conclusion holds for the subsequent recovery in 2021 and 2022. Considering the results obtained in the case of the five observed countries, it is possible to conclude that both the improvements in the labour market conditions and the worsening of labour market conditions have similar effects across different labour market segments when the labour market is split according to education.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

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