Labor Force... Economics 102, Winter 2009B, E, F: Smitka

LF Measurements: U NILF... How to measure: concept – Output (USSR) vs Welfare (work as choice) – U vs NILF How to measure: method – Current Population Survey (CPS)

Using the measure How to adjust – Hours, Wages, Headcount Labor costs = W x H x LF Current examples: voluntary vs involuntary Other issues & concepts – Frictional, Structural, Cyclical – Participation Rates Trends by gender, age (retirement?!) Age structure of population – What is missed: quality...

Select data Labor market BLS seasonally adjusted % of civilian labor force Nov 2007Jul 2008Sep 2008Oct 2008Nov 2008Dec Headline Unemployment discouraged workers marginally attached involuntary part-time workers Total Underutilization Unemployed 15+ weeks Job losers

Japanese Labor Force Participation by Age & Gender

Mean age at first marriage Figure 17 Greece Italy Portugal Spain Japan

Old-age (65-) share of population US 12% 16%20% Australia 11%13%17%23% UK 16% 19%23% France 14%17%21%26% Germany 15%19%22%29% Italy 15%20%24%35% Japan 12%20%29%36% Figure 18

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International Comparison, Women

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Figure 31 Post-WWII baby boom Echo of baby boom as the women of that generation became parents

Total Fertility Rate in Japan and Southern Europe Figure 32

Fertility in China Figure 33 Peng Xizhe, working paper, Hitotsubashi University, 2006 Fertility Transitions and its Socioeconomic Impacts in China

Figure 47