Final answer:
Employers evaluate candidates using information such as degrees from specific schools, awards and GPA, references, interviews, and work experience due to asymmetric information in the labor market.
Step-by-step explanation:
Employers use several key sources of information to evaluate potential candidates due to the presence of asymmetric information in the labor market. Here are five important sources employers might consider:Educational background, including the presence of a degree from specific schools that have pre-screened candidates.Achievements such as awards, a high grade point average (GPA), and other accolades that may indicate a candidate's hard work, perseverance, and ability.References from previous employers or professional contacts that provide insights into the candidate's energy level, work ethic, and other key attributes.Information derived from interviews, where social factors, body language, and nonverbal behavior can reveal additional details about a candidate's suitability for a position.Work experience, including job history, roles held, responsibilities, and career progression.
Awards and accolades: Employers view awards, high grade point averages, and other accolades as signals of hard work, perseverance, and ability.Work history: Employers collect information about a candidate's previous work experience to assess their skills and abilities.References: Employers seek references to gain insights into a candidate's key attributes, such as energy level and work ethic.Interviews: Interviews provide a dynamic source of information about candidates, allowing employers to assess their skills, personality, and fit for the job.