Search Results
Speech
An Economic Outlook at the Philadelphia Club: a speech at the Bond Club of Philadelphia, CFA Society of Philadelphia, and Philadelphia Council for Business Economics, May 23, 2016
President Patrick T. Harker presents his economic outlook at an event sponsored by the Bond Club of Philadelphia, the CFA Society of Philadelphia, and the Philadelphia Council for Business Economics. He also offers his views on monetary policy.
Working Paper
Local Labor Market Tightness and Job Quality: Evidence from Job Changers
Using novel data from the Survey of Household Economics and Decisionmaking, we examine how labor market tightness affects workers’ job quality. We estimate that a 10 percent increase in job vacancies not only increases the probability of changing jobs, it yields an 11–18 percent increase in the (unconditional) probability of switching to a better job overall, and one with greater pay and benefits, interest in the work, and advancement opportunities. Because tight labor markets improve both worker pay and job amenities in roughly the same proportion, their benefits to workers are ...