What is 'Skilled Labor'
Skilled labor is a segment of the work force with a high skill level that creates significant economic value through the work performed (human capital). Skilled labor is generally characterized by high education or expertise levels and high wages. Skilled labor involves complicated tasks that require specific skill sets, education, training and experience, and may involve abstract thinking.
BREAKING DOWN 'Skilled Labor'
Skilled labor is the specialized part of the labor force with advanced education. Examples of skilled labor include physicians, plumbers, attorneys, engineers, scientists, builders, architects and professors.