What's Up with U.S. Wage Growth and Job Mobility?:
Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000-15 Current Population Survey, I find that the drawn-out cyclical labor market repair-likely owing to low entry wages of new workers-slowed down real wage growth. There are, however,...
Gespeichert in:
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund,
2016.
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| Schriftenreihe: | IMF Working Papers.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000-15 Current Population Survey, I find that the drawn-out cyclical labor market repair-likely owing to low entry wages of new workers-slowed down real wage growth. There are, however, also signs of structural changes in the labor market affecting wages: for full-time, full-employed workers, the Wage-Phillips curve-the empirical relationship between wage growth and the unemployment rate-has become horizontal after 2008. Similarly, job-turnover rates have continued to decline. Job-to-job transitions-associated with higher wage growth-have slowed across all skill and age groups and beyond what local labor market conditions would imply. This raises concerns about the allocative ability of the labor market to adjust to changing economic conditions. |
| Beschreibung: | 1 online resource (27 pages) |
| ISBN: | 1498335454 1498335233 9781498335232 9781498335454 |
| ISSN: | 1018-5941 |
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| 520 | 3 | |a Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000-15 Current Population Survey, I find that the drawn-out cyclical labor market repair-likely owing to low entry wages of new workers-slowed down real wage growth. There are, however, also signs of structural changes in the labor market affecting wages: for full-time, full-employed workers, the Wage-Phillips curve-the empirical relationship between wage growth and the unemployment rate-has become horizontal after 2008. Similarly, job-turnover rates have continued to decline. Job-to-job transitions-associated with higher wage growth-have slowed across all skill and age groups and beyond what local labor market conditions would imply. This raises concerns about the allocative ability of the labor market to adjust to changing economic conditions. | |
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| contents | Cover; What's Up with U.S. Wage Growth and Job Mobility?; I. INTRODUCTION; II. DRIVERS OF LOW WAGE GROWTH -POSSIBLE EXPLANATIONS; III. EMPIRICAL STRATEGY AND RESULTS; IV. CONCLUSION; REFERENCES; ANNEX 1. |
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| indexdate | 2024-11-26T14:49:25Z |
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| spelling | Danninger, Stephan. What's Up with U.S. Wage Growth and Job Mobility? Washington, D.C. : International Monetary Fund, 2016. 1 online resource (27 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Papers Print version record. Cover; What's Up with U.S. Wage Growth and Job Mobility?; I. INTRODUCTION; II. DRIVERS OF LOW WAGE GROWTH -POSSIBLE EXPLANATIONS; III. EMPIRICAL STRATEGY AND RESULTS; IV. CONCLUSION; REFERENCES; ANNEX 1. Since the global financial crisis, US wage growth has been sluggish. Drawing on individual earnings data from the 2000-15 Current Population Survey, I find that the drawn-out cyclical labor market repair-likely owing to low entry wages of new workers-slowed down real wage growth. There are, however, also signs of structural changes in the labor market affecting wages: for full-time, full-employed workers, the Wage-Phillips curve-the empirical relationship between wage growth and the unemployment rate-has become horizontal after 2008. Similarly, job-turnover rates have continued to decline. Job-to-job transitions-associated with higher wage growth-have slowed across all skill and age groups and beyond what local labor market conditions would imply. This raises concerns about the allocative ability of the labor market to adjust to changing economic conditions. Wages United States. Labor market United States. Labor mobility United States. Marché du travail États-Unis. Main-d'uvre Mobilité États-Unis. Labor market fast Labor mobility fast Wages fast United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq has work: What's up with U.S. wage growth and job mobility? (Text) https://id.oclc.org/worldcat/entity/E39PCYtBKt69YWyd4mFPQtxmBd https://id.oclc.org/worldcat/ontology/hasWork Print version: Danninger, Stephan. What's Up with U.S. Wage Growth and Job Mobility? Washington, D.C. : International Monetary Fund, ©2016 9781498335232 IMF Working Papers. FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1364083 Volltext |
| spellingShingle | Danninger, Stephan What's Up with U.S. Wage Growth and Job Mobility? IMF Working Papers. Cover; What's Up with U.S. Wage Growth and Job Mobility?; I. INTRODUCTION; II. DRIVERS OF LOW WAGE GROWTH -POSSIBLE EXPLANATIONS; III. EMPIRICAL STRATEGY AND RESULTS; IV. CONCLUSION; REFERENCES; ANNEX 1. Wages United States. Labor market United States. Labor mobility United States. Marché du travail États-Unis. Main-d'uvre Mobilité États-Unis. Labor market fast Labor mobility fast Wages fast |
| title | What's Up with U.S. Wage Growth and Job Mobility? |
| title_auth | What's Up with U.S. Wage Growth and Job Mobility? |
| title_exact_search | What's Up with U.S. Wage Growth and Job Mobility? |
| title_full | What's Up with U.S. Wage Growth and Job Mobility? |
| title_fullStr | What's Up with U.S. Wage Growth and Job Mobility? |
| title_full_unstemmed | What's Up with U.S. Wage Growth and Job Mobility? |
| title_short | What's Up with U.S. Wage Growth and Job Mobility? |
| title_sort | what s up with u s wage growth and job mobility |
| topic | Wages United States. Labor market United States. Labor mobility United States. Marché du travail États-Unis. Main-d'uvre Mobilité États-Unis. Labor market fast Labor mobility fast Wages fast |
| topic_facet | Wages United States. Labor market United States. Labor mobility United States. Marché du travail États-Unis. Main-d'uvre Mobilité États-Unis. Labor market Labor mobility Wages United States |
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