THIS month Britain's universities will churn out 350,000 graduates in the class of 2015. But once the end-of-year celebrations are over, almost half of those who manage to find work will be entering jobs that do not formally require a degree (see chart). That has not stopped employers complaining of skills shortages. For instance, on June 1st Adzuna, a job-search-engine firm, reported the highest number of vacancies since the recession.
Economists believe that much of this difficulty lies in matching the supply of graduates to the available jobs. In 2010 Peter Diamond, Dale Mortensen and Christopher Pissarides won the economics Nobel prize by demonstrating that unemployment can stay high in times of vacancies. It is not possible to assume that buyers and sellers of labour immediately find each other; in many markets this only happens after a costly and lengthy search process. To understand this...Continue reading
from Economics http://ift.tt/1EVfBle
via IFTTT
No comments:
Post a Comment