All articles tagged with #labor force participation
Originally Published 5 months ago — by CNBC
The US job market is weakening, with July adding only 73,000 jobs, below expectations, and revisions for previous months showing even weaker growth. Factors like tariffs, immigration policies, and economic uncertainty are contributing to a stagnating labor market, characterized by low layoffs but also limited job movement and participation.
Originally Published 2 years ago — by NBC News
Blue-collar workers in the United States have experienced stronger hiring, more job opportunities, and faster pay growth compared to their white-collar counterparts. While the job market is slowing down, unemployment remains low and labor force participation is high. However, job gains have slowed, and white-collar employers, particularly in the tech sector, have reduced hiring. In contrast, job postings for manufacturing roles have increased significantly. Blue-collar workers with lower education levels have seen substantial employment growth, while wages in blue-collar fields have outpaced inflation. Nonetheless, the earnings gap between blue-collar and white-collar workers persists, and the economic situation for blue-collar workers, despite wage gains, remains challenging.
Originally Published 2 years ago — by The New York Times
Claudia Goldin, a Harvard professor, has been awarded the Nobel Memorial Prize in Economic Sciences for her research on women's progress in the workforce. She is the third woman to win the economics Nobel and the first to be honored with it solo. Goldin's research has highlighted the reasons behind differences in labor force participation and earnings for women, showing that employment among married women decreased in the 1800s but increased in the 1990s with the expansion of the service sector. She has also demonstrated that the gender wage gap persists, particularly after the birth of a woman's first child.
Originally Published 2 years ago — by CNBC
The US economy added 187,000 jobs in July, the smallest increase since December 2020, but Acting Labor Secretary Julie Su sees it as a "soft landing" for the economy. The unemployment rate fell slightly to 3.5%, remaining low for the past 18 months. Su highlighted the high labor force participation rate, particularly among prime-age workers and women. However, she emphasized the need for addressing structural issues, such as affordable and reliable childcare, to support a smooth transition for women back to work in the post-Covid economy.
Originally Published 2 years ago — by USA TODAY
The labor force participation rate for women ages 25 to 54 in the US reached a record high of 77.8% in June, surpassing pre-pandemic levels, thanks to a robust recovery, increased availability of child care, and remote work options. The larger pool of female workers has helped boost the overall labor force participation rate, easing inflationary pressures. However, the participation rate remains below pre-COVID levels due to early retirements of baby boomers. While more women are entering the workforce, concerns remain about the sustainability of this trend as consumer spending moderates and job gains slow.
Originally Published 2 years ago — by The Wall Street Journal
Economists are warning of a "full-employment recession" in which the job market is so tight that it leads to a slowdown in economic growth. With unemployment rates at historic lows and labor force participation rates stagnant, employers are struggling to find workers, leading to wage increases and potential inflation. This could ultimately lead to a recession as businesses struggle to keep up with rising labor costs.
Originally Published 2 years ago — by Yahoo Finance
The US labor market is robust, with the overall labor force participation rate at its highest since March 2020. However, the labor force participation rate for older workers (ages 55 and up) has decreased since January 2020, possibly due to residual fear of COVID-19 on the job. Meanwhile, prime-age workers (ages 25-54) are flooding back into the workforce. Other factors affecting the labor market include inflation, Long COVID, stimulus checks, prioritizing work-life balance, the opioid crisis, and slower immigration in recent years.