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Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).
With annual inflation falling from 9.1% in mid-2022 to less than 3% recently - closer to the Fed’s 2% goal – officials lowered the benchmark rate by a total three-quarters of a percentage ...
New data from the Bureau of Labor Statistics released Wednesday showed that there were 7.44 million jobs open at the end of September, a decrease from the ... to 3.5% in September, up from 3.4% in ...
The jobs created since the end of the recession (2009) have not been sufficient to show a significant improvement in employment for the 25–54 age range. [31] In the 16–64 age range, from mid-2008 to March 2013 the ratios of employed men and women have declined by approximately 6 and 3 percentage points, respectively. [32]
BLS also reported that: "About 9 out of 10 new jobs are projected to be added in the service-providing sector from 2016 to 2026, resulting in more than 10.5 million new jobs, or 0.8 percent annual growth. The goods-producing sector is expected to increase by 219,000 jobs, growing at a rate of 0.1 percent per year over the projections decade."
Wages for people remaining in their jobs increased 4.8% year-on-year, the first rise in 25 months, after gaining 4.7% in October. Annual pay for workers changing jobs climbed 7.2% after rising 6.7 ...
U.S. unemployment rate and employment to population ratio (EM ratio) Wage share and employment rate in the US Employment-to-population ratio, also called the employment rate, [1] is a statistical ratio that measures the proportion of a country's working age population (statistics are often given for ages 15 to 64 [2] [3]) that is employed.
In short, almost half the working population doesn't know this one thing that would allow them to advance in their careers. Almost 50 percent of employees say this is why they can't get ahead in ...