1Faculty of Economics and Social Sciences, H-2100 Godollo, Pater Karoly str. 1, St. Istvan Univerity, Hungary
2Associate Professor, Faculty of Economics and Social Sciences, H-2100 Godollo, Pater Karoly str. 1, St. Istvan Univerity, Hungary
Online published on 12 October, 2017.
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 nation, 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 reduce rate of unemployment, skill base education, current education system which indirectly concerns with labor force and its market demand. This study also focuses on the one of the biggest issue i.e. child labor in current labor market trend.
The study focuses on challenges and development in labour market, which means different opportunities for economic growth and overall development of country. The methodological approach is mainly descriptive. The analysis will be 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 skilled based jobs. The paper emphasizes these problems and addresses on these issues to narrow down the gaps.
The study is more descriptive in nature. The accuracy of the analysis is dependent upon the accuracy of the data reported by secondary information.
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 young youth is required in terms of increased exposure to technology and more quality-based formal training and education as well as cognitive development.
This paper describes an independent, self-carried analysis of labor market scenario in India and European context by the researcher. The findings are own independent assessment of the researcher.
Labor market, Unemployment, employment, education, growth, skills, child labor
