Abstract
The value of a job is an important issue for management, human resources, law and public policy, yet we lack good empirical estimates of this value. This article presents at heoretical framework for valuing jobs and estimates the average economic value of an Australian job at approximately $104,000. However, judges awarding compensation for unfair dismissal under the Fair Work Act implicitly value a job at around $10,000. If the economic value estimate is correct then workers place a high value on keeping their job, which has important human resources management implications, such as worker commitment and risk‐taking.
| Original language | English |
|---|---|
| Pages (from-to) | 482-493 |
| Number of pages | 12 |
| Journal | The Australian Economic Review |
| Volume | 53 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 25 Aug 2020 |