Methodology and practice in measuring the labor market outcomes of education
DOI:
https://doi.org/10.5281/zenodo.8411474Keywords:
human capital, economic methodology, labor market informationAbstract
This paper examines the availability and significance of internationally comparable statistics (classifications and indicators) in studying labor market outcomes of education. he studies employs mixed-methods approach, building on time-series data for twenty years long period (2002-2022). The study presents functional interpretation of the modern structure and reciprocity of standardized labor market information; adds to the methodology of collecting and analyzing labor market data; and identifies some missing data needed to inform economic policy and enhance job security. Selective review of education-work literature delineates five orthodox theories of relationship with foremost respect to information that were further compared and analyzed with respect to data conformity and ability to support economic choices. Though much has been done, the present study finds considerable support in further methodological development in raising the scale and convergence of the statistical coverage for help increasing transparency and effectiveness of both labor markets and school systems. This research employs only sound orthodox labor market theory and uses internationally comparable aggregate statistics from OECD, ILO, UNESCO, and UN. Due to the changing structure of the labor markets any further follow-up studies will be a must.
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