Quality of Employment and Well-being: An Equivalence-scale Analysis [Calidad del empleo y bienestar: Un análisis con escalas de equivalencia]

Quality of employment has traditionally been analyzed using synthetic indicators. However, this analysis does not incorporate a theoretical framework that supports weighting variables within such indicators. This study seeks to fill the existing gap by using the Consumer Theory and equivalence scales, in an attempt to measure quality of employment. According to the Quality of Life Survey (2010), 62.4% of Colombian occupations are considered to be good. It further shows that the best jobs fall within the middle section of the age distribution, with the occupations of juvenile and older adults being the worst ones, which points to the existence of a new labor life cycle. The survey also reveals the importance of consumer economies of scale, depending on household size, which plays a key role in maintaining or improving well-being. © 2014 Banco de la República de Colombia.

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