Minimum Wage Impacts along the New York-Pennsylvania Border
The federal minimum wage, currently set at $7.25 per hour, has remained unchanged for the longest stretch of time since its 1938 inception under the Fair Labor Standards Act. With the real purchasing power of the federal minimum wage eroded by inflation, many states and municipalities have raised their local minimum wages. As of July 2019, fourteen states plus the District of Columbia?home to 35 percent of Americans?have minimum wages above $10 per hour, as do numerous localities scattered across other states. New York is among a handful of states?along with California, Connecticut, Illinois, ...
Introduction to Heterogeneity Series II: Labor Market Outcomes
While average outcomes serve as important yardsticks for how the economy is doing, understanding heterogeneity—how outcomes vary across a population—is key to understanding both the whole picture and the implications of any given policy. Following our six-part look at heterogeneity in October 2019, we now turn our focus to heterogeneity in the labor market—the subject of four posts set for release tomorrow morning. Average labor market statistics mask a lot of underlying variability—disparities that factor into labor market dynamics. While we have written about labor market ...
Can Reputation Discipline the Gig Economy? Experimental Evidence from an Online Labor Market
Just as employers face uncertainty when hiring workers, workers also face uncertainty when accepting employment, and bad employers may opportunistically depart from expectations, norms, and laws. However, prior research in economics and information sciences has focused sharply on the employer?s problem of identifying good workers rather than vice versa. This issue is especially pronounced in markets for gig work, including online labor markets, where platforms are developing strategies to help workers identify good employers. We build a theoretical model for the value of such reputation ...
How Many Employees Are Prepared to Work from Home?
Sorting workers by occupation and income helps shed light on who is more likely to be able to work remotely.
Social Distancing and Contact-Intensive Occupations
Some jobs certainly require more close interaction with other folks than other jobs. Which occupations are the most interactive, and which states have higher shares of these jobs?
Back-of-the-Envelope Estimates of Next Quarter’s Unemployment Rate
Layoffs are certainly one of the effects of battling COVID-19. What sort of unemployment rate might we see in the second quarter of 2020?
COVID-19 and Financial Distress: Employment Vulnerability
The burden of COVID-19 will likely be borne unevenly, with the largest financial burdens potentially hitting populations already vulnerable to economic shocks.
COVID-19 and Financial Distress: Vulnerability to Infection and Death
Although COVID-19 initially spread faster in areas with low financial distress, evidence suggests that infections may spread most rapidly in highly financially distressed areas moving forward.
How Closing Restaurants and Hotels Spills Over to Total Employment
Due to the increasingly interconnected nature of our economy, losses in one sector could quickly spread to other sectors.
COVID-19 and Unemployment Risk: State and MSA Differences
Which states and MSAs have large shares of workers at high risk of unemployment?