Shortages, skills and older workers in information technology labour market of Latvia

This article examines the labour market situation in the sector of information technology in Latvia, paying attention to the insufficiency of labour force due to the skills gap and employability of older workers. The article is based on application of multidisciplinary research methods including employment and skills analysis theories, policy analysis approach and qualitative in-depth open-ended stakeholders interview method. To begin with, it analyses labour market skills gap versus potential of professional mobility and offers an overview of skill classification. Secondly, it focuses on the economic indicators of the information technology industry sector in Latvia and offers reflections on the causality of the main problems in information technology labour market. It assesses the macroeconomic indicators of the information technology sector in Latvia and concludes that the most significant obstacle for successful development is the lack of human resources. The findings of this article indicate that labour market policies focusing on employability of older people in information technology jobs need to be extended in order to overcome the shortage of labour force and face the challenges of the continuous decrease of the proportion of the working-age population compared to the retirement age population

ECONOMIC DECISIONS OF LATVIAN RURAL ENTREPRENEURS: INTERPRETATION OF MODERN SOCIO-ECONOMIC DISCOURSES

The basic assumption of European social science tradition is a conclusion that every decision made by an individual or an organization is well-founded and rational. The uppermost thesis of classical economics is a desire of every economic entity to attain maximum income by applying minimum possible resources. Hereto, income is usually defined by fiscal indices. Modern economics theories confirm that economic decision making processes can be explained more precisely with concepts of behavioural economics. Agents who make economic decisions are “rationally bounded” and elements of social positioning possibly exceed values expressed in categories of economic utility. The objective of this article is to prove that economic decisions made by Latvian rural entrepreneurs can be explained with the help of modern theories of social science that complement classical thought with an interdisciplinary view on socio-economical processes