The dual labor market theory (DLM) posited the existence of two distinct labor markets working in parallel. A primary one is a place where high wages, employment stability and high opportunities for advancement are the norms. On the other hand, low wages, arbitrariness and less desirable working conditions determine a secondary market. The main…

Due to the effects of globalisation and rapid technological development, traditional linear life course patterns of the past are gradually disappearing, and this affects education and learning systems as well as labour markets. Individuals are forced to develop lifestyles and survival strategies to manage job insecurity and make their skills and…

This paper analyses whether tertiary education of different types, i.e., academic or vocational tertiary education, leads to more or less favorable labor market outcomes. We study the problem for Switzerland, where more than two thirds of the workforce gain vocational secondary degrees and a substantial number go on to a vocational tertiary degree…

I review theories and evidence on wage-setting institutions and labor market policies in an international comparative context. These include collective bargaining, minimum wages, employment protection laws, unemployment insurance (UI), mandated parental leave, and active labor market policies (ALMPs). Since it is unlikely that an unregulated…

The labor market effects of employment protection were examined in a study of Germany's employment protection regulations and their impact on employment practices and patterns. The following topics were considered: (1) the question of whether Germany's labor market problems are a result of regulations; (2) employment security as a subject of labor…

Evidence from North American pay practices was used to examine the question of whether the "old employment contact," according to which employees promised to exchange hard work for job security, has truly been replaced by a "new employment contract" based more on market forces. The study analyzed data from the following…

This document's seven papers examine compensation and employment risk in the United States and Canada. "Introduction" (John A. Turner) discusses compensation risk bearing in labor markets. "Wage and Job Risk for Workers" (John A. Turner) explores the problems of macroeconomic instability, job turnover, job and earnings…