Skilled Labor

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.

RELATED TERMS
  1. Technical Job Skills

    Technical job skills refer to the talent and expertise a person ...
  2. Hard Skills

    Specific, teachable abilities that can be defined and measured. ...
  3. Soft Skills

    The character traits and interpersonal skills that characterize ...
  4. Underemployment

    A measure of employment and labor utilization in the economy ...
  5. Unskilled Labor

    A segment of the work force associated with a low skill level ...
  6. Human Capital

    A measure of the economic value of an employee's skill set. This ...
Related Articles
  1. Professionals

    Employability, The Labor Force And The Economy

    Individuals do not have absolute control of their employability since employability is also affected by market and economic conditions.
  2. Professionals

    What are Technical Skills?

    Technical skills are specialized knowledge and abilities used to perform a specific task. Technical skills are often associated with jobs in the high-tech industry, such as computer programming, ...
  3. Investing

    Most Valuable Career Skills in 2016

    Evaluating the mixture of technical skills and traditional "soft skills" that render career applicants competitive in the 2016 job market.
  4. Professionals

    Top 7 Non-Financial Skills Required In Finance

    Top-notch math skills and financial knowledge are important to a financial professional. But they’re only the tip of the iceberg.
  5. Economics

    How Education And Training Affect The Economy

    Economically successful countries hold competitive advantages over other economies in the global marketplace. Education and training are big reasons why.
  6. 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.
  7. Entrepreneurship

    Sell Your Skills, Not Your Degree

    Many job skills transfer between industries. Here’s how you can use skills you already have to start a new career.
  8. Professionals

    Sell Your Skills, Not Your Degree

    If you want to switch careers, you may not have to go back to school to do it.
  9. Professionals

    Common Interview Questions for Project Managers

    Discover the basic skills needed for a position as a project manager along with common interview questions used in applying for such a position.
  10. Professionals

    What's Human Capital?

    Human capital is a company asset, but it’s not listed on the balance sheet. Human capital is all of the creative skills and knowledge embodied in the employees of a company -- skills that bring ...
RELATED FAQS
  1. How do companies measure labor supply in human resources planning?

    Find out how and why a company's human resources department would measure labor supply, and what policies would address a ... Read Answer >>
  2. How do interpersonal skills influence a business culture?

    Interpersonal skills are vital to business culture because they determine not only how a person interacts with others, but ... Read Answer >>
  3. How have technical skills shifted over the past century in the workforce?

    Learn how technological and economic changes have shaped the American workforce during the past century and how hiring began ... Read Answer >>
  4. What is the relationship between specialization of labor and opportunity cost?

    Learn the basic meaning of specialization of labor and opportunity cost, how they are applied in economic theory and the ... Read Answer >>
  5. How are labor demand forecasts made in human resources planning?

    Discover how human resource planning might be used to estimate the correct demand for labor in a given market, both qualitatively ... Read Answer >>
  6. How do "factor endowments" impact a country's comparative advantage?

    Find out how factor endowments – namely labor, land and capital – affect a country's comparative advantage and how that advantage ... Read Answer >>
Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center