Analyzing the Influential Factors of Older Worker's Job Training Participation

2. Literature Review

Various theories can explain the necessity of job training. First, Shultz (1960)’s human capital theory introduces the concept of human capital and discusses the productivity increase of the labor force through education. He argued that education and training individually increase labor force and income at the same time as socially investing in human capital, which contributes to economic growth. Investment in human capital is oriented towards the long-term in order to secure the competitiveness and driving force integral to productivity improvement in the changing environment. From this perspective, older workers’ participation in job training may be considered to be the choice to increase their own competitiveness in the labor market with an interest in continuing labor.