Number of Qualified Workers
Definition
The number of qualified workers refers to the quantity of individuals who possess the necessary skills and knowledge to perform a specific job or task.
Analogy
Imagine you are assembling a team for a basketball game. The number of qualified players would be the count of skilled athletes who can dribble, shoot, and defend effectively.
Related terms
Labor Force Participation Rate: The labor force participation rate is the percentage of people in an economy who are either employed or actively seeking employment.
Human Capital: Human capital refers to the skills, knowledge, and experience that individuals possess, which contribute to their productivity in the workforce.
Skill Mismatch: Skill mismatch occurs when there is a disparity between the skills possessed by workers and those required by available job opportunities.
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