Labor & Economic News Blog

Tuesday, November 27, 2012

Free exchange: The argument in the floor

Free exchange: The argument in the floor
Economics professor Michael Reich co-authored a study comparing restaurant employment across contiguous counties with different minimum-wage levels between 1990 and 2006, finding no adverse effects on employment from a higher minimum wage.

 

How fighting income inequality became Obama’s driving force

How fighting income inequality became Obama’s driving force
Economics professor Emmanuel Saez comments on President Obama's efforts to fight income inequality: “Obama’s proposals are not strong enough, per se, to undo the very large inequality increase the U.S. has experienced since the 1970s, particularly when it comes to the incomes at the very top. … To really make a dent, you would need to consider more radical policies.”

 

Friday, November 16, 2012

Unemployment rate declines to 10.1% in California

Unemployment rate declines to 10.1% in California
The state's employers added 45,800 nonfarm jobs to payrolls last month, outpacing the U.S. growth rate. The jobless rate dipped from 10.2%.

 

Hostess, maker of Twinkies, shutting down

Hostess, maker of Twinkies, shutting down

Saying it doesn't have the money to survive a strike, the maker of Twinkies and Wonder Bread is closing its doors amid a walkout.

 

Thursday, November 15, 2012

‘Increases in Earnings Dispersion Across Establishments and Individuals in the U.S.’ Richard Freeman, Economics, Harvard University

Institute for Research on Labor and Employment
FALL 2012 Seminars
12 P.M. – 1 P.M.
IRLE Large Conference Room – 2521 Channing Way
Buffet Lunch ~ R.S.V.P. Myra Armstrong, zulu2@berkeley.edu

Monday, november 19, 2012 | 12pm - 1pm

Richard Freeman
‘Increases in Earnings Dispersion Across Establishments and Individuals in the U.S.’
Richard Freeman, Economics, Harvard University


The Contribution of Dispersion across Plants to the Increase in US Earnings Dispersion
Abstract
Using an extensive set of establishment and individual data, we estimate the extent to which the variance of earnings among establishments increased in 1977-2002 and its contribution to the increased dispersion of US earnings among individuals. We find that more than 70 percent of the increase in the variance of earnings in this period occurred across establishments. More than two thirds of the growth in establishment wage dispersion arises from changes within detailed industry and region. Two industries contributed disproportionately to earnings inequality. Business services accounted for a growing share of the total variance in log earnings across plants, while the increased variance in earnings in finance, insurance, and real estate accounted for one-fifth of the growth in variance in the whole economy. WE ARE CURRENTLY UPDATING THE PAPER WITH DATA FROM 2007 TO BE PRESENTED AT THE CONFERENCE.
Decomposing the increase in earnings among establishments between rising inequality among existing establishments and changes in inequality due to the earnings of establishments that enter or exit the economy we find that the bulk of the increase occurred among existing establishments. We reject explanations that attribute the increase in the variance among establishments to increased returns to human capital or increased sorting of observable skills across plants. The factor most closely related to the increased dispersion in earnings across plants is the increase in the dispersion in labor productivity among plants. Evidence of rent sharing and of the growing importance of inter establishment wage dispersion run, given the declining strength of union, counter to the usual analysis of wage-setting in a competitive market.

 

Sunday, November 11, 2012

The Great Debate: Are Public Employees in California Paid too Much.

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Tuesday, November 06, 2012

Dream of retirement grows bleak for young

Dream of retirement grows bleak for young
 The economic downturn is delaying when people launch their careers, and that translates into less savings. On top of that, employers are more pressed to reduce pension benefits, leaving many 20-somethings to think they will not enjoy the same standard of living as their parents did later down the road.

 

Friday, November 02, 2012

How Does Our Economic Future Compare with That of 2008? A Glimpse at America’s Road to Recovery

How Does Our Economic Future Compare with That of 2008? A Glimpse at America’s Road to Recovery
The Hamilton Project's Michael Greenstone and Adam Looney explore whether America’s economic future looks brighter today than it did four years ago, finding that the data indicate it in fact does.

 

Little Federal Help for the Long-Term Unemployed

Little Federal Help for the Long-Term Unemployed
Policy makers are being urged to address long-term unemployment before those looking for work decide to give up trying for good.

 

Latest Jobs Report Shows Persistent Economic Growth

Latest Jobs Report Shows Persistent Economic Growth
In the last assessment before the election, the Labor Department said the economy added 171,000 positions in October. The unemployment rate edged up to 7.9 percent.

 

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