Question

What can KILM 8, KILM 5, KILM 9 and KILM 14 can tell about a country's economy?

Answer 1

KILM 5:Employment by occupation

i) It provides statistics on jobs classified according to major groups as defined as per International Standard Classification of Occupations (ISCO).

ii) Recognizes 10 major groups: (1) Managers; (2) Professionals; (3) Technicians and associate professionals; (4) Clerical support workers; (5) Service and sales workers; (6) Skilled agricultural, forestry and fishery workers; (7) Craft and related trade workers; (8) Plant and machine operators and assemblers; (9) Elementary occupations; and (10) Armed forces occupations.

iii) It inform economic and labour policies in areas such as educational planning, migration and employment services.

iv) Helps in the identification of changes in skill levels in the labour force - advanced and developing economies and inform policies aiming to meet future skills needs, as well as to advise students and jobseekers on expected job prospects.

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KILM 8:Employment in the informal economy

i) Prorvides measure of employment in the informal economy as a percentage of total non-agricultural employment.

ii) Provides an estimate of the extent to which informal sector plays its role in employment creation, production and income generation.

iii) Provides an idea of process of industrial restructuring in the formal economy, leading to greater decentralization of production through subcontracting to small enterprises, many of which are in the informal sector.

iv) Helps in formulation of policy related to improving the working conditions and legal and social protection of persons in informal sector employment and for employees in informal jobs; increasing the productivity of informal economic activities; developing training and skills; organizing informal sector producers and workers; and implementing appropriate regulatory frameworks, governmental reforms, urban development

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KILM 9:Unemployment

i) Indicate overall unemployment rate - reflecting the general performance of the labour market and the economy as a whole

ii) Helps in the the tracking of business cycles. When the rate is high, the country may be in recession (or worse), economic conditions may be bad, or the country somehow unable to provide jobs for the available workers. The goal, then, is to introduce policies and measures to bring the incidence of unemployment down to a more acceptable level.

iii) To ensure consistency of existing unemployment rate with  other economic and social policy objectives, such as low inflation and a sustainable balance-of-payments situation

iv) Used to compare how labour markets in specific countries differ from one another or how different regions of the world contrast in this regard.

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KILM 14:Educational attainment and illiteracy

i) reflects the levels and distribution of the knowledge and skills base of the labour force and the unemployed

ii) Indicate country’s capacity to compete successfully and sustainably in world markets and to make efficient use of rapid technological advances

iii) Indicates capacity of countries to achieve important social and economic goals

iv) give an indication of the degree of inequality in the distribution of education resources between groups of the population, particularly between men and women, and within and between countries

v) provide an indication of the skills of the existing labour force, with a view to discovering untapped potential.