Population and Labor Force

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Presentation transcript:

Population and Labor Force 1/1/2019 Population and Labor Force The population and labor force have both grown substantially over time, but the rates of growth have changed over time.

Male and Female Participation Rates 4. Secular Trend of Participation Rates 1/1/2019 Male and Female Participation Rates Male participation rates have fallen and female participation rates have risen.

Male Participation Rates, by Age 1/1/2019 Male Participation Rates, by Age The participation rates of younger males have remained relatively steady, but they fallen substantially for older males.

Female Participation Rates, by Age 1/1/2019 Female Participation Rates, by Age The participation rates of all females have risen, except the age 65 and over group. Most of the rise in participation rate is due to a rise in participation among married women. This is a surprising result since the rise in real wages of married men would have tended to decrease the participation rates of married women

Female Participation Rates, by Race 1/1/2019 Female Participation Rates, by Race The participation rates of white and African- American females are very similar. In the 1950s, the participation rate among African- American women was 12-15 percentage points higher than for white women. The gap has closed because of a rise in participation among white women.

Male Participation Rates, by Race 1/1/2019 Male Participation Rates, by Race A relatively stable gap of 7 percentage points exists between the participation rates of white and African- American men.

6. Hours of Work Weekly Hours of Work 1/1/2019 Weekly Hours of Work Weekly hours of work fell prior to World War II due to rising real wages (income effect dominated the substitution effect). Since World War II, weekly work hours have been stable.