As Labor Day approaches, we honor the labor leaders and working people throughout history who have fought for labor protections and a voice on the job. In 2017, unions continue to fight for labor standards and higher wages in traditionally unionized sectors, like manufacturing, along with new industries, like digital journalism. Today’s unions are diverse. … Continue reading
Immigrants from India first arrived in the United States in small numbers during the early 19th century, primarily as low-skilled farm laborers. In recent decades the population has grown substantially, with 2.4 million Indian immigrants resident in the United States as of 2015. This makes the foreign born from India the second-largest immigrant group after … Continue reading
Workforce development financing has changed significantly over the last 25 years. In 2008, federal funding for the traditional workforce development system was 83 percent lower in real terms than it had been in 1980. As the federal system plays a smaller role in workforce development financing, the job training landscape better represents a “marketplace” where … Continue reading
MILLIONS OF AMERICANS have attended college, accruing significant amounts of college credit, without ever receiving a college credential that appropriately recognizes their learning and effort. In 2015, there were more than 35 million such Americans aged 25 years and older, a group widely recognized as having “some college, no degree.” Millions of Americans enter higher … Continue reading
In this analysis, we explore the following questions about the approximately 24 million men and women of prime working age who were not in the labor force in 2016. Key findings are: Women with a high school education or less are overwhelmingly the largest group of Americans out of the labor force. After excluding caregivers … Continue reading
With [July] employment report, we can report that the national jobs gap relative to November 2007 has closed (see figure 1). This indicates that, by our calculations, nearly a full decade after the start of the recession, employment has returned to its demographically adjusted pre-recession level. This does not mean that all harm to the … Continue reading
To monitor trends in alternative work arrangements, we conducted a version of the Contingent Worker Survey as part of the RAND American Life Panel (ALP) in late 2015. The findings point to a significant rise in the incidence of alternative work arrangements in the U.S. economy from 2005 to 2015. The percentage of workers engaged … Continue reading
Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, professional and business services, and health care. Household Survey Data Both the unemployment rate, at 4.3 percent, and the number … Continue reading
Manufacturing jobs in the United States have declined considerably over the past several decades, even as manufacturing output – the value of goods and products manufactured in the U.S. – has grown strongly. But while most Americans are aware of the decline in employment, relatively few know about the increase in output, according to a … Continue reading
This week marks the eighth anniversary of the last time the federal minimum wage was raised, from $6.55 to $7.25 on July 24, 2009. Since then, the purchasing power of the federal minimum wage has fallen by 12.5 percent as inflation has slowly eroded its value. However, this decline in the buying power of the … Continue reading
This report looks at trends in CEO compensation using two measures of compensation. The first measure includes stock options realized (in addition to salary, bonuses, restricted stock grants, and long-term incentive payouts). By this measure, in 2016 CEOs in America’s largest firms made an average of $15.6 million in compensation, or 271 times the annual … Continue reading
According to recently released data from the US Bureau of Labor Statistics (BLS), more than 3.2 million people quit their jobs in May 2017, the most Americans to quit in a month since early 2001. It’s also the highest rate of quitting since June 2006. This might seem concerning. If a lot of people are … Continue reading
As the first crop of Gen Z talent joins the future workforce, new grads hold traditional work values with a digital spin. For the first time in years, there is an uptick in the number of new college graduates wanting to work for large companies. They are willing to commit and ready to roll up … Continue reading
Semiannual Monetary Policy Report to the Congress (July 12, 2017) Chair Janet L. Yellen (Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.) Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. In my remarks … Continue reading
Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, social assistance, financial activities, and mining. Household Survey Data In June, the unemployment rate, at 4.4 percent, and the number of unemployed persons, … Continue reading