Employment Exchange

Employment Exchange

Employment Exchange, an office to which employers notify job vacancies and workers their availability for employment. It thus helps to make the labour market work by acting as a clearing-house of information about employment.

Employment exchanges were first established in Britain in 2012 on the advice of Beveridge. In Britain there are now about 900 employment exchanges, which act as the local offices of the Ministry of Labour. They collect statistics of employment and .php'>unemployment, keep registers of unemployed and lists of unfilled vacancies, pay .unemploymentbenefit and provide other forms of assistance to unemployed workers.

Some economists have argued that labour exchanges should be more active in matching the demand for particular types of labour with its supply in different parts of the country. But the sellers' market for labour produced by full employment and inflation and the general upgrading of jobs has increased the use made by employers of advertising in order to attract people in employment, and of specialist private employment agencies for senior managerial, technical and scientific staff, office workers, domestic staff and so on. Such methods probably fill more vacancies than do the official employment exchanges.

Entrep't, a commercial centre (e.g. City of London, Liverpool, Hull) where goods are brought for distribution; mart or place where goods are deposited free of import duty for re-exportation. The continental entrep't is analogous to the British bonded warehouse, where dutiable goods are stored duty free until required for sale, or until re-exported (in which event they do not pay duty at the entrep't). Entrep't trade is re-export trade: a country's trade in the products of other countries.

For more information on Economist - Economist


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