TY  - RPRT
        AU  - Hart, Robert A.
        TI  - General Human Capital and Employment Adjustment in the Great Depression: Apprentices and Journeymen in UK Engineering
        PY  - 2003/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 799
        UR  - https://www.iza.org/index.php/publications/dp799
        AB  - The relationship between training and firm-level employment adjustment given an
unanticipated fall in product demand has been central to human capital theory. The most
cataclysmic negative output shock occurred in 1929/30. At this time, easily the most
important source of United Kingdom general training was the apprenticeship system. Using
data collected by the Engineering Employers' Federation (EEF), this paper examines the
impact of the Great Depression on numbers of apprentices and skilled journeymen. Statistics
cover eight skilled engineering occupations in 38 local labour markets over the period 1928-
1938. Relative employment adjustment responses of apprentices and journeymen accord
well with general human capital arguments.
        KW  - employment adjustments
KW  - general human capital
KW  - British engineering
KW  - Great Depression
        ER  -