Historical Background
Modern labor market segmentation theory arose in the early 1960s. It opened the eyes of many economists viewing the labor market as just a market with people with individual characteristics of education and motivation as well as technology playing a major factor in terms of producing output. This view later on helped us look at the demand-side of the market, the nature and strategy of the employers. The idea of non-competing groups has been developed in theories that are identified under the general label of labor-market segmentation theory.The two key formulations are split into labor-market theory and internal labor-market theory, both developed in the United States. The labor-market segmentation theory revolves around the identification of a split between two analytic divisions in the economy and the labor-market.
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