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US – Short and long-term unemployment exert equal downward pressure on price inflation says FEDS research
In the years following 2009, long-term unemployment has been very elevated while inflation has fallen only moderately, raising the question of whether the long-term unemployed exert less downward pressure on prices than the short-term unemployed, perhaps because such potential workers are disconnected from the labor market. However, empirical evidence is mixed. This analysis demonstrates that … Continue reading
Temporary Foreign Worker in Canada – Eased hiring conditions have risen unemployment rates in Alberta and British Columbia says CD Howe
Since easier access to a large supply of foreign labour might generate undesirable incentives on the part of both employers and prospective workers, a Temporary Foreign Worker (TFW) program requires careful design. Failure at any stage of the process – at time of hiring, during employment, or at the end of the contract – is … Continue reading
Human capital doesn’t alone reduces income inequality research finds
Most developing countries have made a great effort to eradicate illiteracy. As a result, the inequality in the distribution of education has been reduced by more than half from 1950 to 2010. However, inequality in the distribution of income has hardly changed. This column presents evidence from a new dataset on human capital inequality. The … Continue reading
Labour market reforms in Italy
Italy’s labour market productivity has been stagnating in the past decade despite numerous reforms. This column gives an explanation why this is so. By focusing exclusively on flexibility, past labour market reforms have completely neglected incentives. There is severe allocative malfunctioning in the Italian labour market. Wages do not reflect sector productivity in the short … Continue reading
Sweden – New immigrants are catching up says report
This report assesses how new immigrants to Sweden fare in the country’s labor market. The report is part of a series of six case studies on labor market outcomes among immigrants to European Union countries. The report shows that employment rates during newcomers’ initial years in Sweden are relatively depressed for low-educated refugees and migrants … Continue reading
Long-Term unemployed – A sharp drop-off in the number of interview requests for those whose nonemployment spell topped six months finds research
Three recent audit studies on nonemployment discrimination report results consistent with the long-term jobless having significantly lower chances of being invited to job interviews. Given the design of previous studies unfavorable treatment can be due to a marginal preference among employers for hiring applicants with shorter spells or to stronger negative beliefs about the long-term … Continue reading
US – Back to early 20th century wealth concentration levels at the very top finds research
Income inequality has increased sharply since the 1980s yet surveys show modest increase in wealth concentration One possible explanation: rising inequality is a pure labor income phenomenon – Rise in top incomes due to top wage earners/entrepreneurs only – The working rich may not have had enough time to accumulate – Or they may have … Continue reading
Asia – The evolution of income distributions, inequality, and poverty between 1992 and 2010
The incidence of poverty in the Asian region is quite high despite the spectacular growth performance of the PRC, India and other economies in the region. According to the 2013 World Development Indicators, 12.5% of the population in East Asia and 31% of the population in South Asia are below the $1.25/day poverty line used … Continue reading
US – Occupational concentration by industry
Several different measures are available for examining the industry and occupation relationship. Traditional tools include measuring the share of total occupational employment found in a given industry, as well as the share of total industry employment made up of a specific occupation. For instance, 62 percent of registered nurses were employed in hospitals in May … Continue reading
US – What can be done about the rampant underfunding of public pension systems?
Improving Public Pensions: Balancing Competing Priorities by Patten Priestley Mahler, Chingos, and Whitehurst makes a significant contribution to the public pension discourse by providing policymakers and stakeholders with a framework for evaluating proposed reforms to pension systems – even in light of the frequently competing objectives of such systems. The authors begin by defining three … Continue reading
The 2007–2009 recession in US / Full-time employment of workers ages 19 to 33 were between 16 and 26 percentage points less finds the BLS
The recession of 2007–2009 resulted in the loss of millions of jobs, although not all sectors of the economy were affected equally. Much has been written about the employment effects of the recession, with many reports focusing on the change in overall or specific sector employment over the course of the recession. However, many of … Continue reading
Long-Term Unemployed in US – Only 11 percent have returned to steady, full-time employment a year later
In “Are the Long-Term Unemployed on the Margins of the Labor Market?” Alan B. Krueger, Judd Cramer, and David Cho of Princeton University find that even after finding another job, reemployment does not fully reset the clock for the long-term unemployed, who are frequently jobless again soon after they gain reemployment: only 11 percent … Continue reading
Middle-Aged Women – Research finds ‘substantial benefits’ of Hormone Replacement Therapy (HRT) on short-term employment
The increase in labor force participation, and consequently, the increase in employment of women is one of the most striking trends in the twentieth century. Although this trend is likely due to the complex interaction of many factors, available research in economics recognizes, among other causes, the important role of medical innovation in shaping labor … Continue reading
Unemployment Insurance in US – State program loans from the Treasury larger than in any previous recession research finds
The Great Recession of 2007–2009 and its aftermath have posed the most serious challenge to unemployment insurance (UI) financing since the state UI programs were established during the late 1930s. Since 2008, 36 of the 53 state UI programs have borrowed from the U.S. Department of the Treasury (Treasury) to finance benefit payments in the … Continue reading
IMF – There is growing evidence that high income inequality can be detrimental to achieving macroeconomic stability and growth
Income inequality has increased in both advanced and developing economies in recent decades. Increasing inequality has been attributed to a range of factors, including the globalization and liberalization of factor and product markets; skill-biased technological change; increases in labor force participation by low-skilled workers; declining top marginal income tax rates; increasing bargaining power of high … Continue reading
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