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There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
In California, for instance, the state unemployment rate hit 5.3% in February, up 0.8% from a year ago and the highest in the nation. New Jersey's unemployment rate hit 4.8% in February, also up 0.8%.
This is a major reason why non-white and foreign-born workers are increasing their share of the employed. However, white prime-age workers have also had larger declines in labor force participation than some non-white groups, for reasons not entirely clear. Such changes may have important political implications. [85]
(Note that a price is the amount of money paid for a unit of a good.) What we have here is a faster increase in price inflation and a decline in the rate of growth in the production of goods. But this is exactly what stagflation is all about, i.e., an increase in price inflation and a fall in real economic growth.
Unemployment shot to 10.8%, which at the time marked its highest level since World War II. Why the US job market has defied rising interest rates and expectations of high unemployment Skip to main ...
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Structural unemployment may also be encouraged to ... the labor force participation began to reverse its long period of increase. Reasons for the change include a ...
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