IDEAS home Printed from https://ideas.repec.org/a/iza/izawol/journl2019n361.html

The labor market in the US, 2000–2018

Author

Listed:
  • Daniel S. Hamermesh

    (Barnard College, USA, and IZA, Germany)

Abstract

As the largest economy in the world, the US labor market is crucial to the economic well-being of citizens worldwide as well, of course, that of its own citizens. Since 2000 the US labor market has undergone substantial changes, both reflecting the Great Recession, but also resulting from some striking trends. Most interesting have been a remarkable drop in the labor force participation rate, reversing a nearly 50-year trend; the full recovery of unemployment from the depths of the Great Recession; and the little-known continuing growth in post-inflation average earnings.

Suggested Citation

  • Daniel S. Hamermesh, 2019. "The labor market in the US, 2000–2018," World of Labour, LISER, pages 361-361, May.
    • Handle: RePEc:iza:izawol:journl:2019:n:361
    as

    Download full text from publisher

    File URL: https://wol.iza.org/uploads/articles/361/pdfs/the-labor-market-in-the-US.pdf
    Download Restriction: no
    File URL: https://wol.iza.org/articles/the-labor-market-in-the-US
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Anthony B. Atkinson & Thomas Piketty & Emmanuel Saez, 2011. "Top Incomes in the Long Run of History," Journal of Economic Literature, American Economic Association, vol. 49(1), pages 3-71, March.
    2. Boeri, Tito & Burda, Michael & Kramarz, Francis (ed.), 2008. "Working Hours and Job Sharing in the EU and USA: Are Europeans Lazy? Or Americans Crazy?," OUP Catalogue, Oxford University Press, number 9780199231027.
    3. Michael Hurd, 1980. "A Compensation Measure of the Cost of Unemployment to the Unemployed," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(2), pages 225-243.
    4. Johnson, Janet L, 1983. "Sex Differentials in Unemployment Rates: A Case for No Concern," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 293-303, April.
    5. Juhn, Chinhui & Murphy, Kevin M & Pierce, Brooks, 1993. "Wage Inequality and the Rise in Returns to Skill," Journal of Political Economy, University of Chicago Press, vol. 101(3), pages 410-442, June.
    6. Bound, John & Johnson, George, 1992. "Changes in the Structure of Wages in the 1980's: An Evaluation of Alternative Explanations," American Economic Review, American Economic Association, vol. 82(3), pages 371-392, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Momi Dahan, 2017. "Income Inequality in Israel: A Distinctive Evolution," CESifo Working Paper Series 6542, CESifo.
    2. Salverda, Wiemer & Checchi, Daniele, 2014. "Labour-Market Institutions and the Dispersion of Wage Earnings," IZA Discussion Papers 8220, IZA Network @ LISER.
    3. Lawrence F. Katz, 1994. "Active labor market policies to expand employment and opportunity," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Jan, pages 239-322.
    4. David J. Deming, 2017. "The Growing Importance of Social Skills in the Labor Market," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 132(4), pages 1593-1640.
    5. Raymundo M. Campos-Vazquez & Nora Lustig, 2017. "Labour income inequality in Mexico: Puzzles solved and unsolved," Working Papers 1719, Tulane University, Department of Economics.
    6. Xuejun Liu & Albert Park & Yaohui Zhao, 2010. "Explaining Rising Returns to Education in Urban China in the 1990s," Trade Working Papers 22720, East Asian Bureau of Economic Research.
    7. Cecilia Garcia-Penalosa & Eve Caroli & Philippe Aghion, 1999. "Inequality and Economic Growth: The Perspective of the New Growth Theories," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1615-1660, December.
    8. Patricia Smith, 1994. "Recent patterns in downward income mobility: Sinking boats in a rising tide," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 31(3), pages 277-303, March.
    9. Alan Barrett & Tim Callan & Brian Nolan, 1997. "The Earnings Distribution and Returns to Education in Ireland, 1987-1994," Papers WP085, Economic and Social Research Institute (ESRI).
    10. Monte, Ferdinando, 2011. "Skill bias, trade, and wage dispersion," Journal of International Economics, Elsevier, vol. 83(2), pages 202-218, March.
    11. Burda, Michael C. & Hamermesh, Daniel S., 2010. "Unemployment, market work and household production," Economics Letters, Elsevier, vol. 107(2), pages 131-133, May.
    12. Afonso, Oscar, 2023. "Inflation, technological-knowledge bias, and wages," Research in Economics, Elsevier, vol. 77(1), pages 91-103.
    13. Dan Black & Natalia Kolesnikova & Lowell Taylor, 2009. "Earnings Functions When Wages and Prices Vary by Location," Journal of Labor Economics, University of Chicago Press, vol. 27(1), pages 21-47, January.
    14. Michel Lubrano & Abdoul Aziz Junior Ndoye, 2014. "Bayesian Unconditional Quantile Regression: An Analysis of Recent Expansions in Wage Structure and Earnings Inequality in the US 1992–2009," Scottish Journal of Political Economy, Scottish Economic Society, vol. 61(2), pages 129-153, May.
    15. Óscar Afonso & Pedro G. Lima & Tiago Sequeira, 2022. "The effects of automation and lobbying in wage inequality: a directed technical change model with routine and non-routine tasks," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1467-1497, November.
    16. Frederiksen, Anders & Poulsen, Odile, 2010. "Increasing Income Inequality: Productivity, Bargaining and Skill-Upgrading," IZA Discussion Papers 4791, IZA Network @ LISER.
    17. David H. Autor & Lawrence F. Katz & Melissa S. Kearney, 2005. "Trends in U. S. Wage Inequality: Re-Assessing the Revisionists," Harvard Institute of Economic Research Working Papers 2095, Harvard - Institute of Economic Research.
    18. Saïd Hanchane & Jacques Silber, 2004. "On the Link Between On-the-Job Training and Earnings' Dispersion," Working Papers halshs-00010143, HAL.
    19. Robert Baumann, 2006. "Changes in the Appalachian Wage Gap, 1970 to 2000," Growth and Change, Wiley Blackwell, vol. 37(3), pages 416-443, September.
    20. Robert Haveman & Andrew Bershadker, "undated". "Self-reliance and Poverty, Net Earnings Capacity versus: Income for Measuring Poverty," Economics Public Policy Brief Archive ppb_46, Levy Economics Institute.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iza:izawol:journl:2019:n:361. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Olga Nottmeyer (email available below). General contact details of provider: https://edirc.repec.org/data/izaaalu.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.