This paper identifies the economic, sociological, psychological, and managerial approaches to analyzing the determinants of employability, and their limitations, and then proposes an interdisciplinary approach and systemic framework. Through a theoretical analysis, we find that these determinants interact with the internal and external environment of the individual who is integrated within society; has upgradable human and social capital; has a psychological make-up; and lives in a constantly changing socioeconomic context. The complexity of societies, companies, and a globalized economic system induces the use of interdisciplinarity by considering instability, openness, creativity, ambiguity, and paradox. The operationalization of the systems approach is to analyze the internal factors of each subsystem, the interactions between subsystems, and the relationships between subsystems and their environments. Future investigations should seek to identify the empirical determinants of employability through a systemic approach.
Labor market participation has increased attention due to the global impact of the COVID-19 pandemic. This crisis has significantly affected various aspects of society, including labor market participation, resulting in widespread job losses, disruptions in education, shifts in industry demands, skill gaps, and increased unemployment, both on a global scale and within Jammu City. This paper aims to analyze the labor market participation of youth during the pandemic and its impact on education, employment, and socio-economic outcomes. The study uses both primary and secondary sources, such as labor force surveys, reports, and research papers, covering problems worldwide, India and the specific context of Jammu city. The study covers the pre- and post-pandemic labor market participation of survey respondents examining the types of job losses, vocational education and training (VET) courses, work-from-home opportunities, and the challenges faced by individuals in securing employment during the pandemic. The central focus of the study lies in exploring the labor market participation of the respondents. How has the COVID-19 pandemic affected youth labor market participation in Jammu City, and impacted education, employment, and socio-economic outcomes? Major findings have been discussed in this paper, The COVID-19 pandemic resulted in widespread job losses, disruptions in education and significantly impacted youth labor market participation in Jammu City, VET courses emerged as crucial avenues for skill development and adapting to the changing labor market demands during the pandemic. Work-from-home opportunities became prevalent, but access to such opportunities varied among different demographic groups, aggravating existing inequalities. Challenges in securing employment during the pandemic included limited job opportunities, skill gaps, and barriers to accessing education and training. Policy recommendations for addressing the impact of the pandemic on youth labor market participation and socio-economic conditions in Jammu City include enhancing skill development programs, promoting inclusive job creation initiatives, and ensuring equitable access to education and training opportunities. These measures aim to mitigate difficulties in labor market participation and socio-economic challenges, emphasizing the importance of skill enhancement, inclusive job creation, and accessible education and training within the city.
Technological advancements have been reshaping industries and economies worldwide. As technology evolves, questions arise about its impact on employment. This study aims to investigate the relationship between technological advancement and unemployment over the period from 1991 to 2020. The objective of this research is to examine the influence of various factors, including Patent Assistance (PA) residents, Gross Domestic Product per capita (GDPpc), Gross Capital Formation (GCF), and the Consumer Price Index (CPI), on the unemployment rate (UEMP). We seek to understand these variables’ long-term and short-term effects on unemployment. We utilized data from the World Bank for our analysis. The study employed the Auto Regressive Distributed Lag (ARDL) methodology to explore the dynamics between technological advancement and unemployment. This method allows us to investigate both short-term and long-term relationships. Our analysis revealed interesting insights. In the long run, we observed that GCF and CPI negatively influenced unemployment, indicating that an increase in these variables is associated with a reduction in unemployment. However, PA had a positive impact on UEMP, although this effect was not statistically significant. In the short term, GCF, GDPpc, and CPI all had a negative effect on UEMP. These findings carry important policy implications. They suggest that fostering startups and entrepreneurial ventures can drive technological innovation and job creation. To support this, policymakers should focus on creating an enabling environment for startups by reducing bureaucratic barriers, streamlining business registration processes, and providing financial and mentoring support. Encouraging entrepreneurship has the potential to unleash innovative ideas, create new ventures, and generate employment opportunities, particularly for the youth population.
This paper provides a review of the literature on the importance of relative prices in economic dynamics, focusing on three such prices: the relative price of one good/service to another, the terms of trade, and the real exchange rate. The narrative encompassed the theoretical, methodological and empirical spheres. The influential roles of relative prices in restoring internal and external equilibria were underscored and these attributes were deemed to be unparalleled in economic analysis. The terms of trade were particularly noted to be fundamental to economic growth, balance of payments, and, the real exchange rate.
This paper reviewed how human resource (HR) practices and vocational education leverage you temployment in Asian countries, presented a statistical analysis of youth unemployment and employment, an formulated policy proposals that influence youth employment through HR practices and technical and vocational education and training (TVET). The study has used multiple data sources for data triangulation and combined qualitative and quantitative research. The study reveals that inadequate knowledge and skills have been responsible for substantial youth unemployment in Asian economies. Novel technologies and innovations cause substantial skills gaps in labor markets. Disruptive technologies make it difficult to predict future job skills. The existing skills in organizations engaged in information technology/business process outsourcing and tourism are becoming obsolete. Similarly, organizations engaged in financial services and advanced manufacturing are vulnerable to disruption. Therefore, HR practices in organizations need to adopt a more forward-looking approach and equip young workers with cross-job skills that enable them to perform new tasks. Therefore, skilled, knowledgeable, and trainable human resources should be recruited to perform human resource management tasks including routine and specialized activities. Besides, emerging employment opportunities in the context of new technologies should be tapped by developing compatible skills by reorienting existing educational and vocational education through robust TVET programs.
