Employment

Abstract

Understanding the labour market is central to social policy. Stable employment supports good living standards and economic growth; conversely, unemployment has a negative impact on income, inclusion and morale, and creates levels of uncertainty which in turn affect business sentiment, consumer spending and public revenue. Work is not only a source of income. As Budd (2011) noted, while work may be seen as a burden, it also has the potential for psychological fulfilment, identity, relationships and the opportunity to care and to serve. The characteristics and conditions of a job largely determine its psychosocial benefits; both the quantity and quality of work matter when considering the labour market.