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46 posts on "Employment"

November 14, 2018

Just Released: New York State’s Community Colleges are Successfully Partnering with Employers



LSE_2018_New York State’s Community Colleges are Successfully Partnering with Employers

Community colleges frequently work with local employers to help shape the training of students and incumbent workers. This type of engagement has become an increasingly important strategy for community colleges to help students acquire the right skills for available jobs, and also helps local employers find and retain workers with the training they need. The Federal Reserve Bank of New York conducted a survey of community colleges in New York State with the goal of documenting the amount and types of these kinds of activities taking place. Our report, Employer Engagement by Community Colleges in New York State, summarizes the findings of our survey.

Continue reading "Just Released: New York State’s Community Colleges are Successfully Partnering with Employers" »

September 28, 2018

Just Released: Are Employer-to-Employer Transitions Yielding Wage Growth? It Depends on the Worker’s Level of Education



LSE_2018_Just Released: Are Employer-to-Employer Transitions Yielding Wage Growth? It Depends on the Worker’s Level of Education

The rate of employer-to-employer transitions and the average wage of full-time offers rose compared with a year ago, according to the Federal Reserve Bank of New York’s July 2018 SCE Labor Market Survey. Workers’ satisfaction with their promotion opportunities improved since July 2017, while their satisfaction with wage compensation retreated slightly. Regarding expectations, the average expected wage offer (conditional on receiving one) and the reservation wage—the lowest wage at which respondents would be willing to accept a new job—both increased. The expected likelihood of moving into unemployment over the next four months showed a small uptick, which was most pronounced for female respondents.

Continue reading "Just Released: Are Employer-to-Employer Transitions Yielding Wage Growth? It Depends on the Worker’s Level of Education" »

September 05, 2018

Education’s Role in Earnings, Employment, and Economic Mobility



LSE_Education’s Role in Earnings, Employment, and Economic Mobility

Amid dialogue about the soaring student loan burden, questions arise about how educational characteristics (school type, selectivity, and major) affect disparities in post-college labor market outcomes. In this post, we specifically explore the impact of such school and major choices on employment, earnings, and upward economic mobility. Insight into determinants of economic disparity is key for understanding long-term consumption and inequality patterns. In addition, this gives us a window into factors that could be used to ameliorate income inequality and promote economic mobility.

Continue reading "Education’s Role in Earnings, Employment, and Economic Mobility" »

June 27, 2018

Why New York City Subway Delays Don’t Affect All Riders Equally



LSE_2018_Why New York City Subway Delays Don’t Affect All Riders Equally

The state of the New York City subway system has worsened considerably over the past few years. As a consequence of rising ridership and decaying infrastructure, the network is plagued by delays and frequently fails to deliver New Yorkers to their destinations on time. While these delays are a headache for anyone who depends on the subway to get around, they do not affect all riders in the same way. In this post, we explain why subway delays disproportionately affect low-income New Yorkers. We show that wealthier commuters who rely on the subway are less likely to experience extensive issues on their commutes.

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April 19, 2018

Will New Steel Tariffs Protect U.S. Jobs?



LSE_Will New Steel Tariffs Protect U.S. Jobs?

President Trump announced a new tariff of 25 percent on steel imports and 10 percent on aluminum imports on March 8, 2018. One objective of these tariffs is to protect jobs in the U.S. steel industry. They were introduced under a rarely used 1962 Act, which allows the government to impose trade barriers for national security reasons. Although the tariffs were initially to apply to all trading partners, Canada and Mexico are currently exempt subject to NAFTA negotiations, and implementation of the tariffs for the European Union, Argentina, Australia, and Brazil has been paused. South Korea has received a permanent exemption from the steel tariffs and will instead be subject to a quota of 70 percent of its current average steel exports to the United States. In this post, we consider how the steel tariffs could affect U.S. trade and employment. We focus on steel since the steel industry employs about three times as many workers as the aluminum industry, although qualitatively our conclusions apply to both. We argue that the new tariffs are likely to lead to a net loss in U.S. employment, at least in the short to medium run.

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Posted by Blog Author at 10:00 AM in Employment, International Economics | Permalink | Comments (0)

August 21, 2017

Just Released: Introducing the SCE Labor Market Survey



SCE_2017_news-labor-0821_460_art

The New York Fed for the first time released its Survey of Consumer Expectations (SCE) Labor Market Survey which focuses on individuals’ experiences and expectations in the labor market. These data have been collected every four months since March 2014 as part of the SCE. It is being introduced now because the module has enough historical data to reveal notable trends. In this post we introduce the SCE Labor Market Survey and highlight some of its features.

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November 28, 2016

At the N.Y. Fed: Convening on the Evolution of Work



LSE_Convening on the Evolution of Work

The Federal Reserve Bank of New York recently hosted “The Evolution of Work,” a conference that brought together thought leaders from academia, government, industry, labor, and the nonprofit sector to explore how the nature of work is evolving, including the expanding role of technology, shifts in employee work arrangements and employer-employee relationships, and the effects of these changes on workforce and community development strategies. The gathering was cosponsored by the Board of Governors of the Federal Reserve System and the Freelancers Union.

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Posted by Blog Author at 8:38 AM in Education, Employment, Labor Economics, Macroecon | Permalink | Comments (0)

November 16, 2016

Escaping Unemployment Traps



LSE_2016_Escaping Unemployment Traps

Economic activity has remained subdued following the Great Recession. One interpretation of the listless recovery is that recessions inflict permanent damage on an economy’s productive capacity. For example, extended periods of high unemployment can lead to skill losses among workers, reducing human capital and lowering future output. This notion that temporary recessions have long-lasting consequences is often termed hysteresis. Another explanation for sluggish growth is the influential secular stagnation hypothesis, which attributes slow growth to long-term changes in the economy’s underlying structure. While these explanations are observationally similar, they have very different policy implications. In particular, if structural factors are responsible for slow growth, then there might be little monetary policy can do to reverse this trend. If instead hysteresis is to blame, then monetary policy may be able to reverse slowdowns in potential output, or even prevent them from occurring in the first place.

Continue reading "Escaping Unemployment Traps" »

Posted by Blog Author at 7:00 AM in Employment, Macroecon, Monetary Policy, Unemployment, Wages | Permalink | Comments (0)

November 14, 2016

Inflation and Japan’s Ever-Tightening Labor Market



LSE_Inflation_japan_tightening_labor_market_iStock_16873820_460x288

Japan offers a preview of future U.S. demographic trends, having already seen a large increase in the population over 65. So, how has the Japanese economy dealt with this change? A look at the data shows that women of all ages have been pulled into the labor force and that more people are working longer. This transformation of the work force has not been enough to prevent a very tight labor market in a slowly growing economy, and it may help explain why inflation remains minimal. Namely, wages are not responding as much as they might to the tight labor market because women and older workers tend to have lower bargaining power than prime-age males.

Continue reading "Inflation and Japan’s Ever-Tightening Labor Market" »

October 24, 2016

Are Banks Being Roiled by Oil?



LSE_Are Banks Being Roiled by Oil?

Profits and employment in the oil and natural gas extraction industry have fallen significantly since 2014, reflecting a sustained decline in energy prices. In this post, we look at how these tremors are affecting banks that operate in energy industry–intensive regions of the United States. We find that banks in the “oil patch” have experienced a significant rise in delinquencies on commercial and industrial loans. So far though, there appears to be limited evidence of spillovers to other types of loans and no evidence of widespread bank losses or failures in these regions.

Continue reading "Are Banks Being Roiled by Oil?" »

Posted by Blog Author at 7:00 AM in Employment, Financial Institutions, Unemployment | Permalink | Comments (0)
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