RSS FeedA Closer Look at the Rising Unemployment Rate - Coordination Problem
Is probably picking up a significant increase in the labor force participation rate resulting from high school and college students going into the labor market with the end of school. The civilian labor force grew by 577,000, comprising 2/3rds of the 861,000 increase in the number of unemployed (the remainder were those who lost jobs they had). But what only one or two people have noted is the two groups where the jump in the unemployment rate was the largest: teenagers, where the rate went up 3.3 percentage points and blacks, where the rate went up 1.1. The unemployment rate for adult men is 4.9% and 4.8% for adult women, but for teenagers it is 18.7% and 9.7% for African-Americans. It is at least possible that in addition to the more general problems in the US economy, last summer's increase in the federal minimum wage as well as the next jump coming in late July are behind the particulars here. Last July, the federal minimum wage increased to $5.85/hr and it will go up to $6.55 on July 24 of this year . With a sluggish economy, it certainly seems possible that the higher minimum wage is discouraging employers from hiring lower-skill workers whose productivity cannot justify paying them that wage, particularly if they know they will have to give them a raise come late July. Economic theory predicts that minimum wage laws will disproportionately harm lower-skill workers such as teenagers and non-whites (not, it is worth noting, because the latter are inherently less-skilled, but because they have not had the same educational opportunities or other ways to increase their human capital as have whites). This effect of the minimum wage is why higher-skill workers have long supported it as a way to shut out cheaper competition (e.g., US unions shutting out immigrants and blacks 60 years ago, white South Africans shutting out black natives 100 years ago, etc.). It would seem that this prediction is born out by some of...
Adjustment Clerk jobs - News
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Some U.S. Jobs Aren't Coming Back Some U.S. Jobs Aren't Coming BackBut as the recession hurt already ailing businesses, workers were forced into a sudden adjustment rather than the gradual one they would have otherwise and more » |
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City approves layoffs, furloughs Some Battle Creek city workers will lose their jobs and all others will have to take unpaid days off under a budget adjustment plan approved by the city and more » |
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Legislators listen to local input before session City Clerk Jim Davis said he feels the representatives are oblivious to what towns are facing in the economic crisis in the state. |
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Planned cuts hit Battle Creek workers The other two layoffs are a purchasing buyer, one of two at the city, and a part-time clerk in the finance department. Three retirements in the Battle Creek and more » |
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Jobless seek fresh start at Valley One-Stop office She resorted to working odd jobs, such as hotel clerk, residential painter, tile-floor installer and cleaning person. She's been searching the last couple |