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Skill

The ability to accurately forecast returns. We measure skill using the information coefficient.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
All foreign skilled workers entering Japan for employment would have to pass the skills examination and the Japanese language test before signing the employment contract with the accepting organisation.
This will lead to a more skilled workforce and give students the transferable skills to meet the demands of today's global economy and society." Adriana LaGrange, Minister of Education
In the second category, cost of work permits in level (a) for skilled workers cost Dh500 while semi-skilled cost Dh1,000; in level (b) the cost for skilled workers was Dh1,000 and low-skilled cost Dh2,000; in level (c) skilled workers permits cost Dh1500, low-skilled work permits cost Dh2,500; and in level (d) cost for skilled labor was Dh2,000 and limited-skilled was Dh3,000.
Alexandra Bulat makes a very similar point in reporting the views of her migrant, and non-migrant, research participants that there is no agreement on what constitutes a highly, or low, skilled worker and that contribution is more important than skill.
'This agreement, aside from providing better opportunities, is geared toward ensuring their protection by means of implementing a basic framework that will promote smooth and proper mechanisms in sending, accepting and residence management of incoming specified skilled workers in Japan,' he said.
As defined in the agreement, the specified skilled workers are those who possess certain expertise and skills and granted the status of residence of "Specified Skilled Worker," by the government of Japan.
Ramasamy said only 30 per cent of the workforce are skilled while many are unskilled which included the large number of unskilled foreign workers.
Director Abdullah while appreciating the intelligence and capacity of Pakistani Skilled workforce, said that with the development of such centers Pakistani skilled workforce will get jobs very easily in Qatar and assured of his full cooperation in this regard.
Thanks to Trump's restrictive policies, skilled workers from countries such as India are turning to Canada instead.
The skilled crafts sector in Germany includes over 130 occupations in virtually all sectors of the economy.
Under this system competency of skilled force will be recognized, he added.