skill

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Skill

The ability to accurately forecast returns. We measure skill using the information coefficient.

Skill

The ability to perform a task well. For example, a locksmith has the skill to make new keys for customers' homes and cars. Skills are required to perform many jobs and employers will only hire persons who fit the required skill set. As a result, skilled workers are often more highly paid than unskilled workers.

skill

any competence possessed by someone; in an employment context it often refers to a combination of knowledge and manual dexterity amongst manual workers. JOBS are often categorized as skilled, semiskilled or unskilled according to the level of skills apparently required to perform them. However, many argue that there is a mismatch between skills that are actually necessary to perform certain jobs and the nomenclature of the job. Jobs classed as skilled may in reality require little skill (perhaps because of the introduction of new technology) whilst unskilled jobs may require more knowledge than is often recognized (tacit skills). It is therefore argued by some that skills are socially constructed. By defining certain jobs as skilled, entry to them can be restricted to those who possess certain recognized competencies or characteristics. If acquisition of these can be controlled then entry to the job can be restricted. In this way the rewards stemming from the job can be maintained at a high level. This has traditionally been the strategy of craft TRADE UNIONS and of PROFESSIONALS. See SOCIOLOGY OF WORK, TRAINING.

skill

any competence possessed by a person, although in an employment context it often refers to a combination of knowledge and manual dexterity among manual workers. JOB or work tasks are often categorized as skilled, semi-skilled or unskilled according to the level of skills apparently required to perform them.

A key factor in upgrading skills is investment in TRAINING, both in terms of the provision of general education facilities by the government and, more specifically ‘on-the-job’ or vocational training facilities by firms and by the government.

The general level of skills of a firm's LABOUR FORCE is an important factor in increasing PRODUCTIVITY while, more generally, the skills of the labour force, as embodied in HUMAN CAPITAL, contribute to the achievement of higher rates of ECONOMIC GROWTH.

References in periodicals archive ?
He sent Skilful into a clear lead at halfway, but Don't Call Me was gaining all the time close home.
Liam Williamson, Bilton's skilful youth boxer was involved in a local bout against the tough Sean Goodwin from Horsley Hill ABC which had the crowd on its feet.
The football may not be as skilful as the SPL (allegedly) but at least the games will not be so predictable.
Paragamian's skilful invocation of life's absurdity in Two Thousand and None is equally refreshing.
AMIR KHAN is relishing the prospect of taking on a fighter "as skilful as me" when he defends his WBA light-welterweight title against Dmitriy Salita tomorrow.
Froch used to spar with Haye in his amateur days, and said: "He is a really fantastic, skilful fighter.
At Everton in recent seasons, we have lost out in this respect for out team has not produced enough skilful football.
DARIUS VASSELL was helping launch Joga 3, Nike's new 3-a-side fastpaced game that uses a futsal to allow for skilful play.
Characterised by formal and material experimentation (and slightly daffy names--Dirty joins Lost, Fog and Elektra), Adjaye's houses are skilful manipulations of domestic space, usually for artists or arty people, on edgy, inner London sites.
The Most Revd Vincent Nicholls was at Rugby Art Gallery and Museum to open Skilful Hands and Gladsome Hearts, which runs until April 17.
Chief economic adviser to the club Peter Spencer said: "The Chancellor's manipulation of the economic cycle is either extremely skilful, very lucky or a bit of both.