Labor-Ch1-PPT - Chapter 1: The Labor Market Labor...

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Chapter 1: The Labor Market Labor Economics: Studies the determination of wages and employment and the resulting income distribution. Most relevant to our lives of all areas of economics. Labor Market: Interaction between buyers and sellers of labors (I.e., firms and individuals); Labor market is a factor market
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How Labor Market Differs from Other Markets Sellers of labor are people 2200 Employment matches work better when they last awhile. Much heterogeneity of workers and jobs Many markets
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5 Key Labor Market Outcomes 1. Changing level and composition of labor supply – workers (trend over time). 2. ing level and composition of labor demand – jobs (trend over time). 3. ing Structure of earnings 4. ing Labor-management relations 5. es in the level and composition of unemployment
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To Note in Figure 1.2 Decline in average annual hours worked per worker Trend in Labor Force Participation Rate (LFP) 1. Decline for men: 2. Increase for women: 3. Increase in population with college degree (rising skill level):
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To Note from Table 1.1 Trend in level and composition of jobs
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Structure of Earnings #3 from earlier list. How do earnings differ across
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This note was uploaded on 04/14/2010 for the course ECON Labor Econ taught by Professor Mills during the Spring '09 term at UNC Charlotte.

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Labor-Ch1-PPT - Chapter 1: The Labor Market Labor...

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