Skilled Labor


DEFINITION of 'Skilled Labor'

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.

  1. Labor Productivity

    A measurement of economic growth of a country. Labor productivity ...
  2. Headhunter

    A corporation or individual that provides employment recruiting ...
  3. Labor Market Flexibility

    Firms' ability to make changes to their workforce in terms of ...
  4. Bureau Of Labor Statistics - BLS

    A government agency that produces economic data that reflects ...
  5. Human Capital

    A measure of the economic value of an employee's skill set. This ...
  6. Department Of Labor - DOL

    A U.S government cabinet body responsible for standards in occupational ...
Related Articles
  1. Economics

    The Economics Of Labor Mobility

    Loosening labor restrictions has both good and bad effects for a country and its workers.
  2. Economics

    How Education And Training Affect The Economy

    Education and training benefit not only the worker, but also the employer and the country as a whole.
  3. Personal Finance

    2 Years Of Education, A Lifetime Of Success

    Believe it or not, many two-year colleges have advantages over their four-year counterparts.
  4. Investing Basics

    Why Interest Rates Affect Everyone

    Learn why interest rates are one of the most important economic variables and how every individual and business is affected by rate changes.
  5. Investing Basics

    Should You Get A Six Sigma Black Belt? Average Salary: 98K

    Interested in the Six Sigma Black Belt but unsure whether you need one? Here's a guide to it and how it differs from other belts.
  6. Investing Basics

    What is Equity?

    Think of equity as ownership in any asset after all debts stemming from that asset are paid.
  7. Economics

    What's a Horizontal Merger?

    A horizontal merger occurs when companies within the same industry merge.
  8. Economics

    Explaining Quality Control

    Businesses use quality control to ensure their products and services meet a certain standard, as well as any industry regulations.
  9. Professionals

    What is Backward Integration?

    What is backward integration, and how can it affect industries?
  10. Economics

    What is Deadweight Loss?

    Deadweight loss can be applied to any deficiency caused by an inefficient allocation of resources.
  1. What are the main goals of human resources planning?

    Human resource (HR) planning is an organizational technique that uses human resources to help achieve optimal outputs. Companies ... Read Full Answer >>
  2. How do you make working capital adjustments in transfer pricing?

    Transfer pricing refers to prices that a multinational company or group charges a second party operating in a different tax ... Read Full Answer >>
  3. Do working capital funds expire?

    While working capital funds do not expire, the working capital figure does change over time. This is because it is calculated ... Read Full Answer >>
  4. Does working capital include inventory?

    A company's working capital includes inventory, and increases in inventory make working capital increase. Working capital ... Read Full Answer >>
  5. What is the utility function and how is it calculated?

    In economics, utility function is an important concept that measures preferences over a set of goods and services. Utility ... Read Full Answer >>
  6. What does marginal utility tell us about consumer choice?

    In microeconomics, utility represents a way to relate the amount of goods consumed to the amount of happiness or satisfaction ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Black Friday

    1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Barefoot Pilgrim

    A slang term for an unsophisticated investor who loses all of his or her wealth by trading equities in the stock market. ...
  4. Quick Ratio

    The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet ...
  5. Black Tuesday

    October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million ...
  6. Black Monday

    October 19, 1987, when the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning ...
Trading Center