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What does the parameter CLASS in the JOB statement mean?

class Job mean parameter
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What does the parameter CLASS in the JOB statement mean?

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Parameter CLASS specifies the job class. There are 36 possible job classes (A-Z, 0-9). Installations usually attempt to establish job classes that achieve a balance between I/O bound and CPU-bound jobs. Job classes also determine the overall priority of a job, along with the PRTY parameter PRTY may be coded to give special priority to a job. The operator may also set it.

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