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Working Paper
Minimum wages and firm employment: evidence from China

This paper studies how minimum wage policies affect firm employment in China using a unique county level minimum wage data set matched to disaggregated firm survey data. We investigate both the effect of imposing a minimum wage, and the effect of the policies that tightened enforcement in 2004. We find that the average effect of minimum wage changes is modest and positive, and that there is a detectable effect after enforcement reform. Firms have heterogeneous responses to minimum wage changes which can be accounted for by differences in their wage levels and profit margins: firms with high ...
Globalization Institute Working Papers , Paper 173

Why Human Capital Matters Why Human Capital Matters

An economist at the St. Louis Fed discusses the growing importance of human capital in determining a nation’s income.
On the Economy

Journal Article
Workers' Shrinking Share of the Pie

Features: {{p}} Economists have advanced a wide variety of explanations for why workers' share of overall income has been going down
Econ Focus , Issue 2Q-3Q , Pages 14-17

COVID-19’s Impact on U.S. Home Production

The large drop in weekly work hours during the pandemic led to increased time spent on activities like cooking and child care.
On the Economy

The Household Shift from Paid Work to Home Production

When U.S. workers lose their jobs or have reduced work hours, how does this affect time spent on activities like cooking and child care?
On the Economy

Employment Losses in Contact-Intensive Industries

The COVID-19 pandemic has had uneven effects on employment across industries. Nonessential contact-intensive industries have experienced the largest job losses.
On the Economy

Gone to Texas: immigration and the transformantion of the Texas economy

The United States welcomes more immigrants than any other country, and Texas welcomes more migrants?foreign and domestic?than any other state. Nearly half of all new arrivals to the state are foreign born. With a population of over 4 million immigrants, Texas is one of the top three states in terms of the number of foreign born living within its borders. Immigration to Texas has been both a cause and consequence of rapid regional growth. The strong economy and the Texas business model?low taxes, few regulations and a low cost of labor?have attracted many businesses and workers in recent ...

An Economic Outlook - 2019 Inquirer Influencers of Finance

Philadelphia Fed President Patrick Harker provided remarks on his economic outlook, the labor market, job skills, and the future of work at the 2019 Inquirer Influencers of Finance event. "It's my hope that more businesses in the region ? and across the country ? will begin to take another look at how they're approaching training and hiring," Harker said.
Speech , Paper 159

STEM Skills among Foreign-born Workers in the U.S.

Census data show that college-educated foreign-born workers have a relatively larger presence in STEM occupations than those born in the U.S.
On the Economy

Changing Labor Force Composition and the Natural Rate of Unemployment

This article discusses why changes in the composition of the labor force may have lowered the natural (or trend) rate of unemployment?the unemployment rate that would prevail in an economy making full use of its productive resources?to 5 percent or less. A lower natural rate may help explain why wage inflation and price inflation remain low despite actual unemployment recently reaching 5.5 percent?a figure only slightly above prominent estimates of the natural rate, such as that of the Congressional Budget Office (CBO). Demographic and other changes should continue to lower the natural rate ...
Chicago Fed Letter



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