Labor Market Challenges and Development – An Overview about India and European Scenario

Mr. Dhanashree Katekhaye; Prof. Robert Magda

doi:https://doi.org/10.51768/dbr.v17i2.172201602

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Labor Market Challenges and Development – An Overview about India and European Scenario

Dhanashree Katekhaye, Robert Magda

https://doi.org/10.51768/dbr.v17i2.172201602

Published Online: November 30, 2016

Author Details ( * ) denotes Corresponding author

1. * Dhanashree Katekhaye, Faculty of Economics and Social Sciences, H-2100 Godollo, Pater Karoly str. 1, St. Istvan Univerity, Hungary (dhanashree25389@gmail.com,)

2. Robert Magda, Associate Professor, Faculty of Economics and Social Sciences, St. Istvan Univerity, Hungary

Purpose: This study is about analyzing labor markets scenario in developed and developing countries searching for both improved understanding and greater policy relevance. The purpose of this study is to provide an overview of those aspects of India and European nations, about labor market that are important for interpreting data on the trade strategies-employment relationship and to indicate how the countries covered in the project have fared with respect to growth of employment or reduced rate of unemployment, skill based education, current education system which indirectly concerns with labor force and its market demand. This study has focus on one of the biggest issues such as child labor in current labor market trend.

Design/Methodology/Approach: The study focuses on challenges and development in the labour market, which means different opportunities for economic growth and overall development of the country. The methodological approach is mainly descriptive. The analysis has been based on relevant statistical data from secondary sources from national and international literature.

Findings: This paper highlights the gaps in the labor market in Indian and European scenario. There are loopholes in terms of age gaps in working population especially in low skill based jobs. The paper emphasizes these problems and addresses on these issues to narrow down the gaps.

Research Limitations: The study is more descriptive in nature.The accuracy of the analysis is dependent upon the accuracy of the data reported by secondary sources.

Practical Implications: The study provides solutions to the issues cited in the paper. For instance, for categorization of labor market i.e., to narrow down this gap an ignition of the youth is required in terms of increased exposure to technology and more quality – based formal training and education as well as cognitive development .

Originality/Value: This paper describes an own self-carried out independent researchers based analysis of labor market scenario in India and European context by the researcher. The findings are own independent assessment of the researchers.

Keywords

Labor market, Unemployment, employment, education, growth, skills, child labor.

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