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Tag Archives: labor market

The Cost of College Continues to Climb

Jaison R. Abel and Richard Deitz First of two posts College is much more expensive than it used to be. Tuition for a bachelor’s degree has more than tripled from an (inflation-adjusted) average of about $5,000 per year in the 1970s to around $18,000 today. For many parents and prospective students, this high and rising tuition has raised concerns about whether getting a college degree is still worth it—a question we addressed in a 2014 study. In this post, we update that...

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How Has Germany’s Economy Been Affected by the Recent Surge in Immigration?

Matthew Higgins and Thomas Klitgaard Germany emerged as a leading destination for immigration around 2011, as the country’s labor market improved while unemployment climbed elsewhere in the European Union. A second wave began in 2015, with refugees from the Middle East adding to already heavy inflows from Eastern Europe. The demographic consequences of the surge in immigration include a renewed rise in Germany’s population and the stabilization of the country’s median age. The...

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Just Released: The New York Fed’s New Regional Economy Website

Jaison R. Abel, Jason Bram, Richard Deitz, and Jonathan Hastings The New York Fed today unveiled a newly designed website on the regional economy that offers convenient access to a wide array of regional data, analysis, and research that the Bank makes available to the public. Focusing specifically on the Federal Reserve’s Second District, which includes New York State, Northern New Jersey, Southwestern Connecticut, Puerto Rico, and the U.S. Virgin Islands, the new site also features...

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Expecting the Unexpected: Job Losses and Household Spending

Fatih Karahan, Brendan Moore, and Laura Pilossoph Unemployment risk constitutes one of the most significant sources of uncertainty facing workers in the United States. A large body of work has carefully documented that job loss may have long-term effects on one’s career, depressing earnings by as much as 20 percent after fifteen to twenty years. Given the severity of a job loss for earnings, an important question is how much such an event affects one’s standard of living during a...

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The (Modest) Rebound in Manufacturing Jobs

Jaison R. Abel and Richard Deitz First of two posts The United States lost 5.7 million manufacturing jobs between 2000 and 2010, reducing the nation’s manufacturing employment base by nearly a third. These job losses and their causes have been well documented in the popular press and in academic circles. Less well recognized is the modest yet significant rebound in manufacturing jobs that has been underway for several years. Indeed, employment in the manufacturing industry began...

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Just Released: Labor Markets in the Region Are Exceptionally Tight

Jaison R. Abel, Jason Bram, Richard Deitz, and Jonathan Hastings At today’s economic press briefing, we examined labor market conditions across our District, which includes New York State, Northern New Jersey, and Fairfield County, Connecticut, as well as Puerto Rico and the U.S. Virgin Islands. As has been true throughout the expansion, New York City remains an engine of job growth, while employment gains have been more moderate in Northern New Jersey and fairly sluggish across...

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Economic Gains from Gender Inclusion: Even Greater than You Thought

By Christine Lagarde and Jonathan D. Ostry November 28, 2018 Raising women’s participation in the workforce can give a bigger boost to growth than previously thought (photo: Ahrens/Steinbach Projekte/fotogloria/Newscom) Despite some progress, the gaps in labor force participation between men and women remain large. To take just one example, no advanced or middle-income economy has reduced the gender gap below 7 percentage points. This uneven playing field between women and men comes...

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G20: Step Up to Boost Inclusive Growth

By Christine Lagarde November 28, 2018 عربي, 中文, Español, Português, Русский Puerto Madero harbor, Buenos Aires, Argentina: G20 countries will need to act swiftly and together to boost inclusive growth (photo: Florian Kopp imageBROKER/Newscom) As G20 leaders gather in Argentina, the global economy faces a critical juncture. We have had a good stretch of solid growth by historical standards, but now we are facing a period where significant risks are materializing and darker clouds are...

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Just Released: New York State’s Community Colleges are Successfully Partnering with Employers

Jaison R. Abel, Tony Davis, Richard Deitz, and Edison Reyes Community colleges frequently work with local employers to help shape the training of students and incumbent workers. This type of engagement has become an increasingly important strategy for community colleges to help students acquire the right skills for available jobs, and also helps local employers find and retain workers with the training they need. The Federal Reserve Bank of New York conducted a survey of community...

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Just Released: Are Employer-to-Employer Transitions Yielding Wage Growth? It Depends on the Worker’s Level of Education

Gizem Kosar and Kyle Smith The rate of employer-to-employer transitions and the average wage of full-time offers rose compared with a year ago, according to the Federal Reserve Bank of New York’s July 2018 SCE Labor Market Survey. Workers’ satisfaction with their promotion opportunities improved since July 2017, while their satisfaction with wage compensation retreated slightly. Regarding expectations, the average expected wage offer (conditional on receiving one) and the...

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