Employment Flashcards
Paid employment
labour contract between firm-state and worker. Economic exchange of wage for time/effort
Main Actors
private, public, non-profit
‘Gig’ economy
Reliant on new digital platforms. Allows tasks to be linked up to consumers quickly and effectively. currently at 3.5%
Women on the march
Huge increase in the number of women in the labour force even in the last 10 years
Goldin (2014)
“as women have increased their productivity enhancing characteristics and as they ‘look’ more like men the human capital part of the wage difference has been squeezed out”
A shift to the East
Global imbalances in trade as China owns a lot of US debt. Greater role by state in labour and business.
The China shock
Chinese substituting for local produce. Sudden growth in exports from China to rest of world
Wage inequality
Growth in income disparity due to growth in earnings disparity
Skills based change
mid-level jobs are beginning to be replaced by automation, causing a skills bias
The AI revolution
cutting the price of labour and substituting with robots
Machine learning
the error rate in AI is reducing very quickly often making them more efficient. Able to learn patterns
