L11 Econ 1021 Chapter Notes - Chapter 7: Jobless Recovery, Online Banking, Full Employment
28 Apr 2017
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Chapter 6: wages and unemployment: 5 labor market trends (three trends in real earnings, 2 trends in employment and. Increasing wage inequality: the problem in europe is, persistent unemployment since 1980, work is unavailable for the unskilled and sometimes even for the skilled, technological changes and skill-biased impacts having huge impacts. Increase in the working-age population to work at each wage: baby boom, higher net immigration. Increased age at which people retire (living longer, working longer) Improving worker mobility and providing transition aid is a better bet (than trying to stop globalization) Employment and unemployment: measuring unemployment, basics, bls estimates the number of people who are employed and unemployed monthly, population age 16 + = employed (e) + unemployed (u) + out of the labor. Regulations like health and safety regulations: labor union benefits, reduced worker exploitation, support progressive labor legislation, promote democracy in the workplace. Introduces inefficiency into competitive markets: may keep companies from competing globally.
