General Human Capital and Employment Adjustment in the Great Depression: Apprentices and Journeymen in UK Engineering

Robert Hart

No 799, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: The relationship between training and firm-level employment adjustment given an unanticipated fall in product demand has been central to human capital theory. The most cataclysmic negative output shock occurred in 1929/30. At this time, easily the most important source of United Kingdom general training was the apprenticeship system. Using data collected by the Engineering Employers' Federation (EEF), this paper examines the impact of the Great Depression on numbers of apprentices and skilled journeymen. Statistics cover eight skilled engineering occupations in 38 local labour markets over the period 1928- 1938. Relative employment adjustment responses of apprentices and journeymen accord well with general human capital arguments.

Keywords: employment adjustments; general human capital; British engineering; Great Depression (search for similar items in EconPapers)
JEL-codes: E24 J24 N34 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2003-06
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Published - published in: Oxford Economic Papers, 2005, 57 (1), 169-189

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Journal Article: General human capital and employment adjustment in the Great Depression: apprentices and journeymen in UK engineering (2005)
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