SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Demonstrate an understanding of labour market economics and statistics 
SAQA US ID UNIT STANDARD TITLE
337080  Demonstrate an understanding of labour market economics and statistics 
ORIGINATOR
Task Team - Labour Relations 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Human Resources 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 6  Level TBA: Pre-2009 was L6 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
The learner credited with this Unit Standard is able to demonstrate a broad understanding of labour economics. The learner will be in a position to critically evaluate and analyse methods of analysing labour markets, macroeconomics of labour markets and various neoclassical microeconomic models. The qualifying learner will also be in a position to critically evaluate information approaches and criticisms of labour economics.

The qualifying learner is capable of:
  • Interpreting and applying the methods of analysing labour markets.
  • Identifying and applying the macro-economics of the labour market.
  • Interpreting and applying classical micro-economic models.
  • Interpreting and sourcing labour economic statistics. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in:
  • Communication at NQF Level 4 or equivalent. 

  • UNIT STANDARD RANGE 
    The range statements are incorporated in the Specific Outcomes and Associated Assessment Criteria. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Interpret and apply the methods of analysing labour markets. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An explanation is given of labour economics and its impact on the labour market. 

    ASSESSMENT CRITERION 2 
    A critical evaluation is made of the role of individuals in the labour market. 

    ASSESSMENT CRITERION 3 
    A critical evaluation is made of the role of macro-economics and macro-economic variables on the labour market. 
    ASSESSMENT CRITERION RANGE 
  • The presentation should include the interrelationship between labour markets, goods to markets, the money market and the foreign trade markets
  • Macro economic variables may include but are not limited to employment levels, participation rates, aggregate income and Gross Domestic Product.
     

  • SPECIFIC OUTCOME 2 
    Identify and apply the principles of macro-economics to the labour market. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The principles of macro-economics are identified in relation to the labour market. 

    ASSESSMENT CRITERION 2 
    An explanation is provided on the types of employment within the macro economy. 
    ASSESSMENT CRITERION RANGE 
    Types of employment may include but are not limited to:
  • Formal, informal, atypical, casual, seasonal, contractual and temporary.
     

  • ASSESSMENT CRITERION 3 
    Key labour market concepts are interrogated and an explanation given of each with reference made to the resulting effect on broader economic development. 
    ASSESSMENT CRITERION RANGE 
    Labour market concepts may include but are not limited to:
  • Unemployment levels, unemployment rate, employment rate, government interventions, labour supply and demand, skills base and critical skills shortages.
     

  • ASSESSMENT CRITERION 4 
    Factors within an economy that may contribute to unemployment are identified. 

    SPECIFIC OUTCOME 3 
    Identify and apply the principles of micro-economics to the labour market. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The principles of micro-economics are identified in relation to the labour market. 

    ASSESSMENT CRITERION 2 
    The classical micro-economics of labour markets is explained with specific reference to supply and demand in setting price and quantity and its resulting effect on competitive market reporting. 

    ASSESSMENT CRITERION 3 
    A critical evaluation is presented on the neoclassical microeconomic model of supply and an example(s) given on application thereof. 

    ASSESSMENT CRITERION 4 
    A critical evaluation is presented on the neoclassical microeconomic model of demand and appropriate application thereof. 

    ASSESSMENT CRITERION 5 
    A critical evaluation is presented on the neoclassical microeconomic model of equilibrium and appropriate application thereof. 

    ASSESSMENT CRITERION 6 
    An explanation and evaluation of information approaches within the labour economics is provided. 

    SPECIFIC OUTCOME 4 
    Interpret and source labour economic statistics. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A brief explanation is provided on the appropriate methods and sources of labour economic statistics. 

    ASSESSMENT CRITERION 2 
    A researched interpretation of sourced labour economic statistics is provided with a brief explanation of various scenarios. 

    ASSESSMENT CRITERION 3 
    The relevance and imperatives of labour economic statistics are explained and presented with reference made to their impact and influence on the labour market. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA or an ETQA that has a Memorandum of Understanding in place with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or an ETQA that has a Memorandum of Understanding in place with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or an ETQA that has a Memorandum of Understanding in place with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • A basic foundation of micro-economics.
  • A basic foundation of macro-economics. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems when analysing and presenting labour market economics and statistical data. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others to obtain relevant and factual data related to labour market economics and statistics. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities to ensure up-to-date information is used and presented. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information which has an impact on the interpretation and application of labour market economics and statistics. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively when presenting discussion documents or critical evaluations. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology to capture and manipulate, store and present information. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems where a poor understanding of labour market economics and statistical data may impact negatively on outcomes required. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  74570   National Certificate: Labour Relations Practice  Level 6  Level TBA: Pre-2009 was L6  Reregistered  2023-06-30  SERVICES 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.