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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).
Capital deepening is a situation where the capital per worker is increasing in the economy. [1] This is also referred to as increase in the capital intensity. Capital deepening is often measured by the rate of change in capital stock per labour hour. Overall, the economy will expand, and productivity per worker will increase.
From 2000 to 2015: 1) Foreign-born represented 33% of the aged 16+ population increase, but represented 53% of the labor force increase and 59% of the employment increase; 2) The number of native-born employed increased by 5.6 million (5%) while the number of foreign-born employed increased by 8.0 million (47%); and 3) Labor force participation ...
From 1945 to 1979, the U.S. was at full employment two-thirds of the time. Conservatives and business interests pushed back however, as tight labor markets meant more worker bargaining power, higher wages and less profitability. Since 1980, full employment ("defined as an unemployment rate below 5 percent") has been maintained one-third of the ...
The U.S. workforce expanded considerably in August, but with that came more people seeking unemployment. Skip to main content. 24/7 Help. For premium support please call: 800 ...
Capital intensity is the amount of fixed or real capital present in relation to other factors of production, especially labor. At the level of either a production process or the aggregate economy, it may be estimated by the capital to labor ratio, such as from the points along a capital/labor isoquant .
According to new data, the push by states to fill vacant jobs by ending unemployment benefits was not fruitful. Using recent data from the Household Pulse Survey collected by the U.S. Census ...
Unemployment and inflation levels began to rise in the early 1970s, reviving fears of an economic recession. In the past, the country's economic policy had been defined by the Employment Act of 1946, which encouraged the federal government to pursue "maximum employment, production, and purchasing power" by cooperation with private enterprise.