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

Author

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  • Hana Stojanova

    (Faculty of Business and Economics, Mendel University in Brno, 613 00 Brno, Czech Republic)

  • Barbora Lietavcova

    (Faculty of Business and Economics, Mendel University in Brno, 613 00 Brno, Czech Republic)

  • Ivona Vrdoljak Raguž

    (Department of Economics and Business Economics, University of Dubrovnik, 20 000 Dubrovnik, Croatia)

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.

Suggested Citation

  • Hana Stojanova & Barbora Lietavcova & Ivona Vrdoljak Raguž, 2019. "The Dependence of Unemployment of the Senior Workforce upon Explanatory Variables in the European Union in the Context of Industry 4.0," Social Sciences, MDPI, vol. 8(1), pages 1-9, January.
    • Handle: RePEc:gam:jscscx:v:8:y:2019:i:1:p:29-:d:199046
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    References listed on IDEAS

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    1. Kovárník Richard & Staňková Michaela, 2021. "Determinants of Electric Car Sales in Europe," LOGI – Scientific Journal on Transport and Logistics, Sciendo, vol. 12(1), pages 214-225, January.
    2. Stryzhak Olena, 2023. "Analysis of Labor Market Transformation in the Context of Industry 4.0," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 33(4), pages 23-44, December.

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