SKILL LOSS AND UNEMPLOYMENT: A NOTE.

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    • Abstract:
      This article focuses on the analysis of skill loss and unemployment in Great Britain. One of the key concepts used in the theoretical and empirical literature on the economic evaluation of industrial training has been the learning curve. The analysis can be applied to any situation where the worker is re-employed to perform tasks similar to those in which he was engaged prior to unemployment. Thus productivity increases progressively during the early stages of employment as the worker, aided by formal or informal training, becomes more familiar with and competent at his work. After the inflexion point, however, the increases become smaller, until eventually the marginal increase in productivity resulting from an additional time period spent on the job approximates to zero.