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There are many domestic factors affecting the U.S. labor force and employment levels. These include: economic growth; cyclical and structural factors; demographics; education and training; innovation; labor unions; and industry consolidation [2] In addition to macroeconomic and individual firm-related factors, there are individual-related factors that influence the risk of unemployment.
Each provides insight into the factors affecting employment. The Bureau of Labor Statistics provides a "chartbook" displaying the major employment-related variables in the economy. [37] [38] Members of the Federal Reserve also give speeches and Congressional testimony that explain their views of the economy, including the labor market. [39]
The labor force is the actual number of people available for work and is the sum of the employed and the unemployed. The U.S. labor force reached a record high of 168.7 million civilians in September 2024. [1] In February 2020, at the start of the COVID-19 pandemic in the United States, there were 164.6 million civilians in the labor force. [2]
U.S. employers added 227,000 jobs in November as the effects from hurricanes and strikes the previous month reversed. The unemployment rate was 4.2%
This year, the agency increased its projection of how large the U.S. labor force could be in 2033 by 5.2 million people. Most of that increase is expected to be a result of higher projected net ...
President-elect Donald Trump campaigned on the promise to create more American jobs and protect existing ones. But many of his proposals and expected policy changes threaten to have the opposite ...
The deregulation of the labor market undermined unions by allowing the real value of the minimum wage to plummet, resulting in employment insecurity and widening wage and income inequality. [202] David M. Kotz, professor of economics at the University of Massachusetts Amherst , contends that neoliberalism "is based on the thorough domination of ...
The decline in unionization in America may increase polarization slightly. Globalization also lowers wages across the board. [ citation needed ] The most powerful causes are the redistributive effects of government, through laws such as those that discourage unionization, determine corporate governance, and limit the extent of monopoly rents.