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Employment outlooks: Why forecast the labour market and for whom?

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  • Neugart, Michael
  • Schömann, Klaus

Abstract

This essay argues that experience from more than three decades of labour market forecasting shows that forecasting helps greasing the wheels of labour markets. Applied correctly - not in the sense of old fashioned manpower planning models - sufficiently disaggregated employment outlooks support individuals in making better informed decisions on human capital investments, guide policy makers, and alert firms of upcoming skill shortages. That forecasts are necessary at all follows mainly from nowadays widely acknowledged market failure arguments.

Suggested Citation

  • Neugart, Michael & Schömann, Klaus, 2002. "Employment outlooks: Why forecast the labour market and for whom?," Discussion Papers, Research Unit: Labor Market Policy and Employment FS I 02-206, WZB Berlin Social Science Center.
    • Handle: RePEc:zbw:wzblpe:fsi02206
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    2. Ulrike Huemer & Helmut Mahringer & Gerhard Streicher, 2002. "Berufliche und sektorale Beschäftigungsprognose für Oberösterreich. Methoden und Ergebnisse des regionalen Berufs- und Sektormodells für Oberösterreich," WIFO Monatsberichte (monthly reports), WIFO, vol. 75(11), pages 687-700, November.
    3. Kirui, Oliver K. & Kozicka, Marta, 2018. "Vocational Education and Training for Farmers and Other Actors in the Agri-Food Value Chain in Africa," Working Papers 274536, University of Bonn, Center for Development Research (ZEF).
    4. Kahanec, Martin & Zimmermann, Klaus F. & Kureková, Lucia Mýtna & Biavaschi, Costanza, 2013. "Labour Migration from EaP Countries to the EU – Assessment of Costs and Benefits and Proposals for Better Labour Market Matching," IZA Research Reports 56, Institute of Labor Economics (IZA).
    5. Martin Guzi & Martin Kahanec & Lucia Mýtna Kureková, 2018. "How Immigration Grease Is Affected by Economic, Institutional, and Policy Contexts: Evidence from EU Labor Markets," Kyklos, Wiley Blackwell, vol. 71(2), pages 213-243, May.
    6. BIAGI Federico & CASTANO MUNOZ Jonatan & DI PIETRO Giorgio, 2020. "Mismatch between Demand and Supply among higher education graduates in the EU," JRC Research Reports JRC120022, Joint Research Centre.
    7. Majumder, Rajarshi & Mukherjee, Dipa & Ray, Jhilam, 2017. "Education and labour market: estimating future skill gap in India," MPRA Paper 85439, University Library of Munich, Germany, revised 2018.

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