Relative Supply of Skilled Labor
Education is an important factor in increasing skill level. The increase in number of people attending high schools and colleges contribute to the increase in the supply of skilled labor. Mass education, however, is not the only factor. Immigration is also a big contributor. Immigrants created a bimodal skill distribution, where most immigrants were either low skill or high skill workers. There were few who were in between.
Historical Reference - In the United States such factors have caused an overall increase in the supply of skilled labor during the 20th century. The shift from unskilled to skilled labor can be attributed to increases in human capital, or in other words increasing the efficiency of humans through investment in knowledge. The American boom in public education, specifically high schools, congruently increased the level of human capital and total factor productivity.
Read more about this topic: Skill (labor)
Famous quotes containing the words relative, supply, skilled and/or labor:
“In a country where misery and want were the foundation of the social structure, famine was periodic, death from starvation common, disease pervasive, thievery normal, and graft and corruption taken for granted, the elimination of these conditions in Communist China is so striking that negative aspects of the new rule fade in relative importance.”
—Barbara Tuchman (1912–1989)
“I think it’s a question which particularly arises over women writers: whether it’s better to have a happy life or a good supply of tragic plots.”
—Wendy Cope (b. 1945)
“Apart from the fact that women posess the equipment for lactation, mothers seem no more predisposed to, or innately skilled at, child care than are fathers, siblings or non parents. Besides, women obviously come in a variety of shapes, sizes, talents and temperaments. Why shouldn’t they vary in degrees of motherhood?”
—Shari Thurer (20th century)
“So neither the one who plants nor the one who waters is anything, but only God who gives the growth. The one who plants and the one who waters have a common purpose, and each will receive wages according to the labor of each. For we are God’s servants, working together; you are God’s field, God’s building.”
—Bible: New Testament, 1 Corinthians 3:7-9.