Aging and Technological Advances pp 99-111 | Cite as
Technological Change and the Labor Market Situation of Older Workers
Abstract
Research on labor markets has shown that much about age patterns of earnings can be understood in terms of the accumulation of job skills over a lifetime, particularly through investments in schooling and on-the-job training (Backer, 1975; Mincer, 1970, 1974). In this framework, individuals enhance their productivity and earnings before and during their work careers by accumulating job skills through investments in schooling and on-the-job training. Jobs are seen as offering two types of payoffs that are relevant for future earnings—an earnings component and a training component. The training component, which provides no immediate financial reward but increases a worker’s future productivity and earnings capacity, can be a significant part of the worker’s total compensation package. For example, Lazear (1976) estimated that training constituted about one-third of the total compensation package for young men.
Keywords
Young Worker National Commission Employment Policy Displace Worker Labor Market SituationPreview
Unable to display preview. Download preview PDF.
References
- Andrisani, P. and T. Daymont. 1983. Age, Productivity, and Earnings. Project on National Employment Policy and Older Americans. Washington: National Commission for Employment Policy.Google Scholar
- Ben-Porath, Y. 1967. The production of human capital and the life cycle of earnings. Journal of Political Economy 75: 352 – 365.CrossRefGoogle Scholar
- Harris, L. 1981. Remarks at Press Conference on Aging, November 13, 1981. Washington, D.C.Google Scholar
- Johnson, T., K. Dickinson, and R. West: 1983. Older Workers’ Responses to Job Displacement and the Assistance Provided by the Employment Service. Project on National Employment Policy and Older Americans. Washington: National Commission for Employment Policy.Google Scholar
- Jondrow, J., F. Brechling, and A. Marcus. 1983. Older Workers’ in the Market for Part-Time Employment. Project on National Employment Policy and Older Americans. Washington: National Commission for Employment Policy.Google Scholar
- Lazear, E. 1976. Age, experience, and wage growth. American Economic Review 66: 548 – 558.Google Scholar
- Mincer, J. 1970. The distribution of labor earnings: A survey with special reference to the human capital approach. Journal of Economic Literature 8 (March): 1 – 26.Google Scholar
- Mincer, J. 1974. Schooling, Experience, and Earnings. New York: Columbia University Press.Google Scholar
- Paul, C. 1983. A Human Resource Management Perspective on Work Alternatives for Older Americans. Project on National Employment Policy and Older Americans. Washington: National Commission for Employment Policy.Google Scholar
- Root, L. and L. Zarrugh. 1983. Innovative Employment Practices for Older Americans. Project on National Employment Policy and Older Americans. Washington: National Commission for Employment Policy.Google Scholar
- Rosen., S. 1972. Learning and experience in the labor market. Journal of Human Resources 7 (Summer): 326 – 342.CrossRefGoogle Scholar
- Rosen, B. and T.H. Jerdee. 1977. Too old or not too old? Harvard Business Review 55 (November/December): 97 – 106.Google Scholar
- Shapiro, D. and S. Sandell. 1983. Age Discrimination and Labor Market Problems of Displaced Older Male Workers. Project on National Employment Policy and Older Americans Washington: National Commission for Employment Policy.Google Scholar