While young men with a college degree earn an average hourly wage of $20.94 early in their careers, their female counterparts earn an average hourly wage of just $16.58, or $4.36 less than men.
Young high school and college graduates were hit hard in the Great Recession. While young graduates’ economic prospects have brightened in recent years, they still face elevated unemployment rates and stagnant wages. Many groups—including young graduates of color, as well as young high school graduates entering the workforce—face particularly difficult economic realities. This report looks at trends in unemployment, underemployment, and wages of young high school and college graduates to paint a picture of the economy facing the Class of 2016.
Robert Waterman, Compliance Specialist
Wage and Hour Division, U.S. Department of Labor
Room S–3510, 200 Constitution Avenue NW.
Washington, DC 20210
Re: Proposed Department of Labor (Wage and Hour Division) Rule on Establishing Paid Sick Leave for Federal Contractors (RIN 1235–AA13)
Ambitious investments in high quality child care can narrow the gender wage gap and help boost the economy by increasing women’s labor force participation.
An ambitious national investment in early childhood care and education would provide high societal returns. American productivity would improve with a better-educated and healthier future workforce, inequality would be immediately reduced as resources to provide quality child care are progressively made available to families with children, and the next generation would benefit from a more level playing field that allows for real equality of opportunity.
The best news in the data released in this morning’s Job Openings and Labor Turnover Survey
from the Bureau of Labor Statistics is that hires were up. Hopefully this is a new trend and not a short term blip in the data. We need job openings to keep translating into hires if we want to reach full employment.
Five top female U.S. soccer players made headlines for filing a case against U.S. Soccer for wage discrimination. While this case is high profile, the fact is that the gender pay gap exists across occupations and throughout the economy and that gaps between men’s and women’s pay can add up to a substantial amount over time.
This morning’s employment situation report showed that the economy added 215,000 jobs in March, which is in line with expectations and in line with the trends of the past few months.
I’ll be looking at two particular trends tomorrow when the March Employment Situation report comes out. First, I’ll look at what’s happening with the labor force participation rate, along with the accompanying employment-to-population ratio and the unemployment rate. Second, I’ll continue to look at nominal wage growth, to measure the strength of the recovery’s impact on workers.
In 2015, wages for low-wage workers rose faster in states that increased their minimum wage than in states that saw no minimum wage increase.
This morning’s Job Openings and Labor Turnover Survey (JOLTS) report has both some optimistic news about the economy and some rather disappointing news (and revisions to the entire historical series).
The main story of 2015 wage trends is that they were very unequal—so much so that the fastest growth in wage inequality between men happened in 2015.
Overall, 2015 saw overall real wage gains driven by a dip in inflation. It also saw a pronounced increase in wage inequality.
http://www.epi.org/files/2016/radio-2016-01-19-elise-gould.mp3From time-to-time, EPI contributes segments for broadcast on Workers Independent News. In January 2016, EPI Communications Director Liz Rose interviewed senior economist Elise Gould.
This morning’s Job Openings and Labor Turnover Survey report came in pretty much in line with other economic indicators that suggested a solid finish the 2015 labor market. Most notably, the hires and quits rates saw small upticks in December, a positive sign for an economy continuing to recovery.
Although payroll employment came in much lower than expected and lower than the strong finish to last year, today’s jobs report is a sign that the economy continues to recover.
We’ve seen solid growth in employment over the past couple of years, and the unemployment rate has come down dramatically, but by any reasonable definition we are still not that close to genuine full employment. So, what is full employment?
This Friday is the anniversary of the Lilly Ledbetter Fair Pay Act of 2009, a reminder that a significant pay gap still exists between men and women in the United States.
EPI’s Elise Gould discussed prime-age employment-to-population ratio with CNBC Nightly Business Report.
The economic impact of so-called “right-to-work” (RTW) laws has become a hotly contested issue in recent years. These laws restrict the ability of unions to collect dues from workers whose interests they represent.
The Job Openings and Labor Turnover Survey data released this morning provide further evidence that the economy is chugging along, but has a ways to go before the labor market is fully recovered. While my favorite indicators to watch on jobs day are nominal wage growth and the prime-age employment-to-population ratio, my favorite indicator on JOLTS day is the quits rate. There are three key lines in the graph below: the hires rate, the quits rate, and the layoffs rate.
Real solutions should expand policies that have already been proven to work: strengthening the social safety net, making poverty programs better coordinated and more accessible to low income families, and improving job opportunities and wages across the board.Given his past comments, it seems hugely unlikely that Speaker Paul Ryan’s poverty forum
will emphasize these priorities.
The top line numbers from this morning’s jobs report suggest that the economy is moving in the right direction, but we need to see a whole lot more movement before we reach full employment.
With today’s jobs report closing out 2015 we can now look at last year in the context of the recovery as a whole.
With the last jobs report for 2015 coming out tomorrow, let’s step back and put it in the context of the entire year—and of the recovery as a whole.
The Job Openings and Labor Turnover Survey
(JOLTS) report released today by the Bureau of Labor Statistics shows signs of a continued slow recovery. Job openings fell slightly to 5.4 million, and the quits rate remained, stubbornly, at 1.9 percent, where it has been for most of the last year. Along with last Friday’s jobs report
, today’s report provides more evidence of a recovering but still weak economy.
EPI’s Elise Gould spoke with “Marketplace” about the decline of labor force participation among prime-age workers.
This piece originally appeared in the Wall Street Journal’s Think Tank blog.
Our friend and former colleague Jared Bernstein has mounted a small but strategic retreat in the campaign to have the Fed continue focusing on full employment.
This morning’s jobs report from the Bureau of Labor Statistics showed that the economy added 211,000 jobs in November—a decent amount, but lower than October’s more solid report, which was revised substantially upward.
On Friday, the Bureau of Labor Statistics will release the November numbers on the state of the labor market. On December 15, the Federal Open Market Committee will meet to determine whether they should raise interest rates, and most prognosticators think that this time they will actually go through with it.