The response of the labor force to fluctuations in unemployment has been discussed for decades. Especially the labor supply of females seems to be affected by the de- mand side, or by the business cycle. The question of the relationship between cycli- cal variations in economic activity and labor force participation was typically exam- ined … Continue reading
The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren’t. Discouraged U.S. Workers, 2008-2012 The labor market … Continue reading
There are far more jobless people in the United States than you might think. While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth. As a result, the labor … Continue reading