Employment Perspectives and Current Trends in the Mining and Quarrying Industry in the European Union

Abstract

Employment represents a comprehensive field in the mining and quarrying sector. It is related to many aspects of the macroeconomic situation. The two fundamental indicators explored in the analysis are in the forms of the production value and the value added at factor cost. The main employed methodology is a regression analysis technique, where the explained variable is represented by the value added in the mining and quarrying sector. The explanatory variables are the following ones: employment, labour productivity, wage, labour input in industry, and turnover. The examined area includes all the 27 European Union member countries with the other selected European countries. The data set covers the time period from 2011 to the year 2020. The Discussion section offers a comparison with the other research studies. The elementary findings are confirmed in the outcomes related to the research hypotheses and the research questions. All the research hypotheses are rejected, so all the five explored indicators are proved to be statistically significant. Moreover, the research questions demonstrate the potential indicators that will play a key role in future development of the mining and quarrying industry. They will serve as a basement for policymakers in order to create the policies for enhancement macroeconomic area of the examined industrial sector.