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Labour economics, or labor economics, seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers , usually in exchange for a wage paid by demanding firms.
However, labor union participation rates have declined steadily in the United States. According to the Bureau of Labor Statistics annual Union Members Summary: "In 2012, the union membership rate—the percent of wage and salary workers who were members of a union—was 11.3 percent, down from 11.8 percent in 2011. The number of wage and salary ...
A tight labor market alone can't undo a legacy of unequal school funding, residential segregation or the disproportionate rate of incarceration for black Americans. Nor can it reverse the gradual shift of well-paying jobs from inner cities to mostly white suburbs.
"The market has taken rate hikes down off the table for this year, but for how long if the labor market remains tight." Job openings, a measure of labor demand, were up 56,000 to 9.553 million on ...
The first burst on Tuesday — a critical read on activity within the jobs market — showed that the once too-tight labor market is starting to look more like its pre-pandemic days.
The labor market is steadily rebalancing in the wake of 525 basis points worth of rate hikes from the U.S. central bank since March 2022 to cool demand in the overall economy.
The labor force is the actual number of people available for work and is the sum of the employed and the unemployed. The U.S. labor force reached a record high of 168.7 million civilians in September 2024. [1] In February 2020, at the start of the COVID-19 pandemic in the United States, there were 164.6 million civilians in the labor force. [2]
The tight labor market has hit certain industries — like health care and hospitality — particularly hard, but it’s having an impact across the entire economy. Workers’ wages have gone up ...