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Description
Occupational Licensing is the legal obligation that requires individuals to obtain a credential or permission of the government in order to perform a particular profession. This labor market regulation plays a key role in protecting public health, thereby ensuring safety. Nevertheless, this limits access to many occupations and levies substantial costs, as a result people pay higher prices. Though occupational licensing often constraints the work structure, restricts innovation and affects economic growth, yet it has been observed that the licensed employees or workers tend to enjoy labor market advantages and earn more as compared to the unlicensed ones (Nunn, 2018). Hence occupational licensing is considered as an important requirement for any profession and in any field.
