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The Labour Market of the UK - Term Paper Example

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The paper presents the situation of the labor market of the UK that is still suffering from the after-effects of the global financial meltdown. Although the corporate sector is growing all over the world, the job market has changed in terms of demand and recruitments processes…
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The Labour Market of the UK
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Download file to see previous pages Observing the actions taken by the regulatory bodies and the Government of the UK, it can be observed that, over-education is a long term phenomenon and is hampering the work enthusiasm of the graduates. Moreover, the educational systems are also changing and focusing on designing courses that are suited more professionally, rather than the traditional learning style (Walker and Zhu, 2005). One of the major issues in the contemporary job market scenario is over-education of the candidates and the jobs being offered. This is reducing the potential limits of the students and is also hampering their future prospects. This study is based on evaluating the influence of graduate workers in the UK.
Majority of the scholars such as Walker and Zhu (2005) and Buchel, de Grip and Mertens (2003) have pointed out that, the primary factor behind the increase of over-education is the limited numbers of suitable candidates available in the job market. However, Dolton and Vignoles (2000) observed that the changes in the operational style of the corporate segment have also caused a rise in the number of over-educated employees. Most of the large scale business houses have segregated their work process into small and specific parts. This has limited the amount of skill required for employment and also reduced the scope of growth. Hence, the educational qualifications of the employees are often, more than their existing job profile. On the other hand, the limited number of jobs in the industry is also forcing the graduate candidates to work at lower level employment criteria adding to the factor of over-education among the graduates. Budria and Moro-Egido (2009) opined that the overall increase in the cost of living has resulted in an increase in the numbers of graduates or students taking up part-time jobs to meet their expenses. Considering the economic influence Dolton and Silles (2001) stated that, in the UK, retail and banking sector is among the highest recruiters which leave little option for the graduate students to follow their desired job profile. ...Download file to see next pagesRead More
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