Sabu Thomas presently the Co-ordinator of the K M Mani Centre for Budget Studies (KMMCBS) at Cochin University of Science and Technology had also served as the Research Association in the Nodal Centre for Kerala of National Technical Manpower Information System (NTMIS). Dr. Sabu Thomas acquired Ph D in Economics from University of Kerala in 2000. He was awarded Post Doctoral Fellowship form Cochin University of Science & Technology and Indian Council of Social Science Research (ICSSR), New Delhi. Dr. Sabu Thomas was a consultant of 8th and 9th Pay Revision Commission, Government of Kerala during 2005-2006 and 2010-2011. He was considerable experience in administration and has done extensive research in the area of Labour Economics. He is published more then 30 articles in various News Papers and journals and the books. His books on “PAY DETERMINATION OF GOVERNMENT EMPLOYEES” and “UNION MOVEMENT OF GOVERNMENT EMPLOYEES” were published by the publications department of Cochin University of Science and Technology. He is also the editor of the book entitled “Economics” specially meant for the UGC-JRF/NET aspirants. His books on Social Security Initiatives in Kerala” would be published shortly. In the capacity as a research associate at the Nodal Centre for Kerala, Dr. Sabu Thomas has co-ordinated the Two days national seminar on “Employability of Fresh Engineering Graduates in the Era of Globalisarions Problems and Prospects”. The Present book is an outcome of the Seminar.