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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

Restoring Balance

Remarks at New Jersey City University (delivered via videoconference).

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

Discussion Paper
The Long-Term Unemployed and the Wages of New Hires

This is the third in a series of blog posts on the topic of measuring labor market slack. In this post, we assess the relationships between short- and long-term unemployment and wages by comparing the differences in states’ experiences over the business cycle. While all states felt the impact of the Great Recession, some fared better than others. Consequently, it is possible to use differences in the composition and shifts of short- and long-term unemployment to determine whether short-term unemployment exerts a greater influence on wage determination. The results suggest that there is ...
Liberty Street Economics , Paper 20141119

Discussion Paper
Do the Employed Get Better Job Offers?

In a previous post, we examined the job search behavior of workers, both on the job and while unemployed. We found that job seeking is pervasive among employed workers, and that searching while employed is more effective than searching while unemployed in producing employer contacts and job offers. But how do the offers received through “on the job” searches compare to those received while unemployed? What do their wages look like, how do they compare in terms of nonwage benefits, and how much bargaining between employers and job applicants is involved? In this post, we shed some light on ...
Liberty Street Economics , Paper 20180404

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 ...

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

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


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