Globalization and Labor Market: A Systematic Review of the Literature

Abstract

The current study set out to determine the themes from the relevant empirical literature. After a systematic examination of the literature, the current study discovered that globalization has changed employment and trade in the labor market, impacted the employment rate, and increased gender differences. The study also revealed that FDI has a number of important effects and ramifications for sectorial employment, employment productivity, private sector employment, and employment creation. The study also revealed that different economies experience distinct mix effects of remittances on labor and employment. Similarly, trade openness has been shown to be a conduit for changes in employment. The study also discovered that the gender gap has gotten wider as a result of globalization, which has led to the loss of jobs in industries that compete with imports. The findings also demonstrated an understanding of the complexity of globalization and employment, which must be taken into account for each unique situation. It is anticipated that this study will assist decision-makers in identifying strategies to mitigate the adverse impacts of globalization.