Abstract
The orthodox supply-side human capital theory (HCT) paradigm is inadequate for understanding and adjusting to labour market volatility in UK regional economies like Wales. This article explores the role of regional labour market intermediaries (LMIs) in matching supply (skills) and demand (job opportunities) in regional labour markets. Some LMIs emerge because the HCT paradigm is failing. One Welsh LMI, Shaping the Future (StF), is explored empirically using qualitative methods. StF mainly adopted HCT tenets, but with some emergent demand-side focus. Despite helping workers adjust to labour market shocks, LMIs are not equipped to fix the structural demand-side problem of finite quality job opportunities in deindustrialized regions that accentuate skill use. A broader ‘skill eco-system’ paradigm is required, emphasising the foundational economy.
| Original language | English |
|---|---|
| Pages (from-to) | 571-584 |
| Journal | Journal of Education and Work |
| Volume | 30 |
| Issue number | 6 |
| Early online date | 9 Nov 2016 |
| DOIs | |
| Publication status | Published - 2017 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth -
SDG 13 Climate Action
Keywords
- human capital
- job quality
- labour market intermediaries
- retraining
- supply and demand
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