Dual Labor Market Theory
Dual Labor Market Theory posits that the job market is divided into two distinct segments: the primary market and the secondary market. The primary market offers stable jobs with good pay, benefits, and opportunities for advancement, often requiring higher education and skills. In contrast, the secondary market has lower-paying, less stable jobs with little chance for growth, often requiring minimal skills. Occupational choice is influenced by individuals’ access to education, resources, and connections, which can determine whether they enter the primary or secondary market, impacting their career trajectories and economic mobility.
Additional Insights
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Dual labor market theory suggests that the job market is divided into two distinct segments: the primary and secondary sectors. The primary sector comprises stable jobs with decent wages, benefits, and career advancement opportunities, often requiring higher education and skills. In contrast, the secondary sector includes low-paying, unstable jobs with few benefits and limited chances for advancement, often filled by less-skilled workers. This theory highlights how economic inequalities arise from these differing job conditions, influencing workers' life chances based on the sector they occupy, rather than solely their skills or efforts.