SOC227H5 Chapter Notes - Chapter 5: Human Capital, Status Attainment, Social Capital
Document Summary
Arena in which employers seek to purchase labour from potential employees who are seeking jobs suitable to their education, experience, and preferences for pay, status, career opportunities, and other job rewards. Workers exchange their skills, knowledge, and loyalty in return. The human capital model of labour market processes. Jobs requiring more effort, training, and skill typically receive greater rewards. Assumes a job"s rewards are determined by its economic contribution to society. Labour market participants are competing for jobs in a single, open labour market. All potential employees with the necessary qualifications have equal access to job openings. More dangerous and unhealthy jobs should be paid more workers have to be compensated for greater risks. Emphasize the supply side of labour markets and largely overlooks the behaviour and characteristics of employers and work organizations. Ignores unequal power relationships within the labour market. Well-trained and highly motivated people working in poorly paid, low-skill jobs.
