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Studying How Work, Leisure and Home Influence Each Other
Traditionally, economists look at a trade-off between work and leisure. But it’s really about work for pay, work at home, and leisure, says economist Betsey Stevenson.
Work, Leisure, and Family: From the Silent Generation to Millennials
This article analyzes the changes in family structure, fertility behavior, and the division of labor within the household from the Silent generation (cohort born in 1940-49) to the Millennial generation (cohort born in 1980-89). Using data from the Panel Study of Income Dynamics, this article documents the main trends and life-cycle profiles for each generation. The main findings are that (i) the wage-age profile has been shifting down over generations, especially for Millennial men; (ii) the returns to a four-year college degree or higher for men have increased for all generations; (iii) ...
How Have the Euro Area and U.S. Labor Market Recoveries Differed?
The initial phase of the pandemic saw the euro area and U.S unemployment rates behave quite differently, with the rate for the United States rising much more dramatically than the euro area rate. Two years on, the rates for both regions are back near pre-pandemic levels. A key difference, though, is that U.S. employment levels were down by 3.0 million jobs in 2021:Q4 relative to pre-pandemic levels, while the number of euro area jobs was up 600,000. A look at employment by industry shows that both regions had large shortfalls in the accommodation and food services industries, as expected. A ...