Do low-wage workers respond to high-pressure labor markets by increasing their labor supply? What evidence is there that tight job markets pull in such workers? We find highly cyclical responses to both the extensive and intensive margins of labor supply for low-income, prime-age persons. Read more
But if these well-known models accurately describe the relationship between inflation rates and labor market slack, why are the United States and other advanced economies experiencing such slow to modest wage growth as national unemployment rates keep dropping lower and lower? Read more
At the core of our argument is the idea that changing inflation dynamics, in tandem with higher wage, income, and wealth inequality, should create an asymmetry in the Fed’s reaction function, as such dynamics elevate the benefits of full employment and diminish the risks of inflationary pressures. Read more
Success for manufacturing-intensive communities is possible. We know what policies make sense to increase such communities’ job growth. Such policies can boost local manufacturing. Read more
This report was commissioned by the Center on Budget and Policy Priorities’ Full Employment Project. Views expressed within the report do not necessarily reflect the ... Read more
*/ This report was commissioned by the Center on Budget and Policy Priorities’ Full Employment Project. Views expressed within the report do not necessarily reflect ... Read more
This report was commissioned by the Center on Budget and Policy Priorities’ Full Employment Project. Views expressed within the report do not necessarily reflect the ... Read more
Recessions generate significant risks for both people and the economy. At the human level, they increase hardship for families that lose jobs or businesses. Read more
