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  • October 2021 Newlsetter
Unemployment in the US has risen to its highest level.
View this email online
IZA World of Labor

"As the largest economy in the world, the US labor market is crucial to the economic well-being of citizens worldwide as well as, of course, that of its own citizens," writes Daniel S. Hamermesh.

The labor market in the US, 2000–2020

In the aggregate the US labor market is recovering slowly from the Covid Recession. Unemployment is currently around 6%.


Because this recession killed jobs of low-wage workers, real weekly earnings of full-time workers increased substantially during it. The difficulties lie behind the aggregates. Earnings inequality continued to rise, with the growth in earnings concentrated in, although not restricted to, workers in the upper half of the distribution of earnings.

Even though labor force participation rates of people aged 55+ have been constant for the past decade, those of adult men aged 16–54 have dropped, continuing a trend. Surprisingly so too have those of women aged 16–54, sharply reversing the previous trend and easily offsetting increases in participation of older Americans.

The earnings of African-American workers relative to whites’ earnings have not risen over this 20-year period. Those of Hispanics have, but both remain far below those of whites.

Continue reading

Find more content (articles, commentary, video) on Covid-19—Pandemics and the labor market

Visit our key topics page on 
National responses to Covid-19.

Watch our latest video:

Panel Discussion on Women in Leadership

Panel Discussion on Women in Leadership

 with Astrid Kunze from the Norwegian School of Economics, Joanne Tan from the Singapore Management University and Zoe B. Cullen from the Harvard Business School.

 
View all our recent videos

IZA World of Labor articles and opinion pieces are frequently cited in content published by both major media outlets and policy-making organizations.

View our most recent media citations here.

View our most recent policy citations here.


Latest articles:

  • How immigration affects investment and productivity in host and home countries (Deutsch) by Volker Grossmann

  • Can market mechanisms solve the refugee crisis? (Deutsch) by Jesús Fernández-Huertas Moraga, Martin Hagen

  • Cash wage payments in transition economies: Consequences of envelope wages (Deutsch) by Ioana Alexandra Horodnic, Colin C. Williams


Latest opinion pieces:

Does health professionalism among bureaucrats help weather the Covid-19 pandemic?

Does health professionalism among bureaucrats help weather the Covid-19 pandemic?

Having government leaders with health and medical backgrounds may become increasingly valuable as the health consequences of climate change, environmental pollution, and threats of infectious diseases continue to escalate in the interconnected world.

 
Solving pension crises

Solving pension crises

Governments need to make pension systems more transparent.

 
Emigration and the wages of those who stay behind

Emigration and the wages of those who stay behind

Over the past 40 years economists have produced a wealth of knowledge on the effects of immigration on the wages and employment of natives, and also on economic growth, crime, and other outcomes.

 
Read more opinion pieces

Labor economics in the news:

Nigeria introduces a digital currency; Torres Strait Islanders take Australia to court over climate change

Nigeria introduces a digital currency; Torres Strait Islanders take Australia to court over climate change

This week's global news summary brings news from Nigeria, Australia, and the UK and discusses issues as diverse as digital currencies, climate change, and all-female boards.  

 
Climate change threatens over 100 million people in Africa

Climate change threatens over 100 million people in Africa

Josefa Leonel Correia Sacko warned that “by 2030, it is estimated that up to 118 million extremely poor people will be exposed to drought, floods and extreme heat in Africa."

 
Wales launches drive to prevent economic harm caused by brain drain

Wales launches drive to prevent economic harm caused by brain drain

The government hopes to show Wales is an attractive place to live, study, work and invest, as part of an inclusive, open, and green nation.

 
Read more news

Upcoming events:

 

  • IZA Workshop: The Role of Search and Matching in Macroeconomics: A Retrospective, November 18-19 2021 - Online

  • ADAPT Conference - Work and its value: Interdisciplinary Reflections on an Ever-Changing Concept, November 25-27 2021 - Bergamo, Italy


 
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