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

Hana Stojanova, Barbora Lietavcova and Ivona Vrdoljak Raguž
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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

Social Sciences, 2019, vol. 8, issue 1, 1-9

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.

Keywords: EU; labor market; senior workforce; unemployment; industry 4.0 (search for similar items in EconPapers)
JEL-codes: A B N P Y80 Z00 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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