Hoosen Rasool - Labour Market Paralysis - SABPP

MisconceptionsOne of the major misconceptions is that the only way to addressskills shortages in the labour market is through investment ineducation and training. Additionally, there is a range of other waysby which h the labour market adjusts to skills shortages. Theseinclude:• Increasing wages;• Recruiting more widely;• Adopting a more expansive approach to skills immigration;• Increasing over-time;• Altering production methods to reduce the need for skills in shortsupply;• Changing conditions of employment;• Utilizing skilled employees more productively;• Substituting capital for skills in short supply;• Changing the product mix; and• contract t out the work