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Changes In The Aggregate Labor Force Participation Rate
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Book Synopsis Changes in the Aggregate Labor Force Participation Rate by : Julie L. Hotchkiss
Download or read book Changes in the Aggregate Labor Force Participation Rate written by Julie L. Hotchkiss and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Human capital is a vital component in the production process, so the size of the labor force can profoundly affect the potential for economic growth. In the United States, the overall labor force participation rate (LFPR)the percent of the population supplying labor to the marketbegan to grow in the mid-1960s, mainly because of the rise in women's LFPR. But since 1997 the aggregate LFPR has been generally declining. Many researchers have linked this decline to demographic factors, chiefly the drop in labor force participation among young people and working-age women. This article presents a simple methodology for decomposing changes in the aggregate LFPR over time into demographic group changes in both labor force participation behavior and population shares. The decomposition reveals that a decline in the population shares of working-age men and women was actually the driving force behind the recent drop in the aggregate LFPR, outweighing the effect of the declining participation rates of women and youth. This simple method demonstrates how little information is needed to evaluate the historical evolution of the aggregate LFPR and to make projections of its future path that are a close match to estimates from more complex structural forecasting models. -- labor force participation ; decomposition ; forecasting
Book Synopsis Decomposing Changes in the Aggregate Labor Force Participation Rate by : Julie L. Hotchkiss
Download or read book Decomposing Changes in the Aggregate Labor Force Participation Rate written by Julie L. Hotchkiss and published by . This book was released on 2014 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple methodology for decomposing changes in the aggregate labor force participation rate (LFPR) over time into demographic group changes in labor force participation behavior and in population share. The purpose is to identify the relative importance of behavioral changes and population changes as driving forces behind changes in the aggregate LFPR.
Book Synopsis Aging and the Macroeconomy by : National Research Council
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Book Synopsis A Cohort-Based Analysis of Labor Force Participation for Advanced Economies by : Francesco Grigoli
Download or read book A Cohort-Based Analysis of Labor Force Participation for Advanced Economies written by Francesco Grigoli and published by International Monetary Fund. This book was released on 2018-05-22 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced economies are in the midst of a major demographic transition, with the number of elderly rising precipitously relative to the working-age population. Yet, despite the acceleration in demographic shifts in the past decade, advanced economies experienced markedly different trajectories in overall labor force participation rates and the workforce attachment of men and women. Using a cohort-based model of labor force participation for 17 advanced economies estimated over the 1985-2016 period, we document a significant role of common patterns of participation over the life cycle and shifts in these patterns across generations for aggregate labor supply, especially in the case of women. The entry of new cohorts of women led to upward shifts in the age participation prole, boosting aggregate participation rates. However, this process plateaued in most advanced economies, with signs of reversal in some. Using the model's results to forecast future participation trends, we project sizable declines in aggregate participation rates over the next three decades due to the aging of the population. Illustrative simulations show that implementing policies encouraging labor supply can help attenuate but may not fully offset demographic pressures.
Book Synopsis Recent Trends in Labor Force Participation Rates by :
Download or read book Recent Trends in Labor Force Participation Rates written by and published by . This book was released on 1980 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Effect of Changes in Labor Force Participation on Aggregate Savings Rates by : John W. Graham
Download or read book The Effect of Changes in Labor Force Participation on Aggregate Savings Rates written by John W. Graham and published by . This book was released on 1982 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Labor Force Participation in Chile by : Patrick Blagrave
Download or read book Labor Force Participation in Chile written by Patrick Blagrave and published by International Monetary Fund. This book was released on 2017-03-13 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gains in labor force participation rates in Chile have slowed in recent years. We examine their determinants using a cohort-model analysis. Allowing for both age- and cohort-specific effects in the context of a seemingly unrelated regression equations (SURE) approach, we find that age factors play an important role in determining participation decisions, especially for males. For females, we find that strong positive time trends dominate the downward pressure from demographics, although those trends have recently dissipated. In addition, we find that both cohort effects and the business cycle shape participation decisions. Using our cohort-based analysis, we construct projections of participation rates, which suggest population aging will put downward pressure on labor inputs, and thus potential output, in coming years. Further increases in female labor force participation—supported by policies— could more than offset the downward pressure from demographics.
Author :United States. National Commission on Employment and Unemployment Statistics Publisher : ISBN 13 : Total Pages :420 pages Book Rating :4.F/5 ( download)
Book Synopsis Counting the labor force by : United States. National Commission on Employment and Unemployment Statistics
Download or read book Counting the labor force written by United States. National Commission on Employment and Unemployment Statistics and published by . This book was released on 1979 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Long-Term Factors in American Economic Growth by : Stanley L. Engerman
Download or read book Long-Term Factors in American Economic Growth written by Stanley L. Engerman and published by University of Chicago Press. This book was released on 2007-11-01 with total page 898 pages. Available in PDF, EPUB and Kindle. Book excerpt: These classic studies of the history of economic change in 19th- and 20th-century United States, Canada, and British West Indies examine national product; capital stock and wealth; and fertility, health, and mortality. "A 'must have' in the library of the serious economic historian."—Samuel Bostaph, Southern Economic Journal
Download or read book Women in the Labor Force written by and published by . This book was released on 2006 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Expected Changes in the Workforce and Implications for Labor Markets by : Phillip B. Levine
Download or read book Expected Changes in the Workforce and Implications for Labor Markets written by Phillip B. Levine and published by . This book was released on 1991 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the likely effects of the aging of the baby boom on labor force attachment, unemployment, and wages. Labor market trends between now and 2020 are the focus of analysis, when the majority of the baby boom generation will confront its retirement decision. We begin by reviewing past labor force trends and discussing important limitations of existing projection methods. Key elements needed to project the consequences of the demographic shock facing the labor market are identified. The task of developing a fully specified economic model to examine the effect of the aging of the baby boom on the labor market is as yet incomplete. On the basis of the best available evidence, we suggest the following conclusions can be drawn: The trend towards earlier retirement will slow and perhaps reverse in the next few decades. Unemployment should fall among older workers and the aggregate full-employment unemployment rate should also decline as the baby boom ages. The aging of the baby boom will not depress wages substantially, either for older workers or for other demographic groups.
Author :United States. National Commission on Employment and Unemployment Statistics Publisher : ISBN 13 : Total Pages :412 pages Book Rating :4.:/5 ( download)
Book Synopsis Counting the Labor Force by : United States. National Commission on Employment and Unemployment Statistics
Download or read book Counting the Labor Force written by United States. National Commission on Employment and Unemployment Statistics and published by . This book was released on 1979 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Drivers of Labor Force Participation in Advanced Economies: Macro and Micro Evidence by : Francesco Grigoli
Download or read book Drivers of Labor Force Participation in Advanced Economies: Macro and Micro Evidence written by Francesco Grigoli and published by International Monetary Fund. This book was released on 2018-06-25 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite significant headwinds from population aging in most advanced economies (AEs), labor force participation rates show remarkably divergent trajectories both across countries and across different groups of workers. Participation increased sharply among prime-age women and, more recently, older workers, but fell among the young and prime-age men. This pa- per investigates the determinants of these trends using aggregate and individual-level data. We find that the bulk of the dramatic increase in the labor force attachment of prime-age women and older workers in the past three decades can be explained by changes in labor mar- ket policies and institutions, structural transformation, and gains in educational attainment. Technological advances such as automation, on the other hand, weighed on the labor supply of prime-age and older workers. In light of the dramatic demographic shifts expected in the coming decades in many AEs, our fndings underscore the need to invest in education and training, reform the tax system, reduce early retirement incentives, improve the job-matching process, and help individuals combine family and work life in order to alleviate the pressures from aging on labor supply.
Book Synopsis Labor Force Participation by : Federal Reserve Federal Reserve Board
Download or read book Labor Force Participation written by Federal Reserve Federal Reserve Board and published by CreateSpace. This book was released on 2015-01-08 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than five years after the Great Recession ended, the labor market has, by many metrics, finally shown substantial improvement. The unemployment rate is now nearly 4 percentage points below the peak reached in late 2009, and the number of nonfarm payroll jobs has returned to pre-recession levels. However, one lingering concern is the ongoing decline in the labor force participation rate and the concomitant absence of a significant rise in the percentage of the working-age population who are employed. In particular, the labor force participation rate has fallen from about 66 percent of the population in 2007 to about 63 percent over the first half of 2014, while the employment-to-population ratio currently stands at 59 percent, only about ½ percentage point above its low point in the wake of the recession (figure
Book Synopsis Labor Force Projections To 2016 by : Mitra Toossi
Download or read book Labor Force Projections To 2016 written by Mitra Toossi and published by DIANE Publishing. This book was released on 2010-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The labor force will grow more slowly during the next decade; and the older labor force is projected to grow more than 5 times faster than the overall labor force, which will become ever more racially and ethnically diverse. The growth of the older labor force in the next decade will be much higher than the labor force growth of the other age groups. The civilian labor force is projected to increase by a 0.8% annual growth rate which is lower than the 1.2% annual growth rate registered during the previous 10-year period. In addition, the labor force will continue to age: the 55-years-and-older workforce is expected to grow by 46.7% over the projection period, more than 5 times the growth projected for the aggregate labor force. Charts and tables.
Book Synopsis Asymmetric Labor Force Participation Decisions Over the Business Cycle by :
Download or read book Asymmetric Labor Force Participation Decisions Over the Business Cycle written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The purpose of this paper is to explore the microfoundations of the observed asymmetric movement in aggregate unemployment rates. Using U.S. data, we find that individual labor force participation responds asymmetrically to changes in local labor market conditions, consistent with the pattern of movements in the aggregate unemployment rate. Differences in the asymmetry and sensitivity of labor force participation decisions are found across gender, age, and education groups, and these differences are used to anticipate changes in the aggregate movements as population characteristics change over time"--Federal Reserve Bank of Atlanta web site.
Book Synopsis Recent U.S. Labor Force Dynamics by : Mr.Ravi Balakrishnan
Download or read book Recent U.S. Labor Force Dynamics written by Mr.Ravi Balakrishnan and published by International Monetary Fund. This book was released on 2015-04-02 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. labor force participation rate (LFPR) fell dramatically following the Great Recession and has yet to start recovering. A key question is how much of the post-2007 decline is reversible, something which is central to the policy debate. The key finding of this paper is that while around 1⁄4–? of the post-2007 decline is reversible, the LFPR will continue to decline given population aging. This paper’s measure of the “employment gap” also suggests that labor market slack remains and will only decline gradually, pointing to a still important role for stimulative macro-economic policies to help reach full employment. In addition, given the continued downward pressure on the LFPR, labor supply measures will be an essential component of the strategy to boost potential growth. Finally, stimulative macroeconomic and labor supply policies should also help reduce the scope for further hysteresis effects to develop (e.g., loss of skills, discouragement).
