Work

The Dependence of Unemployment of the Senior Workforce upon Explanatory Variables in the European Union in the Context of Industry 4.0

Year: 2019

Type: article

Abstract: Digitalization, robotization, artificial intelligence, and all kinds of new technologies that are known as Industry 4.0 or the fourth industrial revolution have great influence on the future of work because they will gather new jobs with new skills, and a majority of the senior workforce will probably have a lot of problems with those kinds of changes and challenges. The major objective of the paper is to recognize the dependence of the unemployment of the age category 55–64 upon selected explanatory variables. The explanatory variables were selected, and the expectations of their signs were presented in the research design. The secondary data of Eurostat and OECD 2015 has been used, covering the twenty-two member countries of the European Union (the countries that provided minimum wage were included only). The econometric analysis, specifically model specification and model quantification were the main methods used in the paper. The main outcomes and relevance of the model as well as its limitations have been compared with the findings of other authors in the discussion and implications for further research.

Source: Social Sciences

DOI: 10.3390/socsci8010029

Authors: Hana Stojanova, Barbora Lietavcova, Ivona Vrdoljak Raguž

Institutions: Mendel University in Brno, University of Dubrovnik

Language: English

Topic: Labor market dynamics and wage inequality

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $1,013