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Shift or shock? Long-term balance of power in labor markets

Author

Listed:
  • Betsey Stevenson

    (University of Michigan)

  • Diane Swonk

    (KPMG)

  • Michael Horrigan

    (W.E. Upjohn Institute for Employment Research)

Abstract

Despite rapid growth, the aggregate job count remains below its pre-pandemic trend, particularly in service sectors. Participation rates have been depressed, especially among older groups of the population. Lingering COVID-related health care issues and concerns, including care for household members, and softness in compensation relative to inflation are possible factors relating to the softness in the labor force, accentuating the potential benefits of reviving immigration.

Suggested Citation

  • Betsey Stevenson & Diane Swonk & Michael Horrigan, 2023. "Shift or shock? Long-term balance of power in labor markets," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 58(2), pages 85-96, April.
    • Handle: RePEc:pal:buseco:v:58:y:2023:i:2:d:10.1057_s11369-023-00311-9
    DOI: 10.1057/s11369-023-00311-9
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