1. 2
Overview of the Labor Market

2. Figure 2. 1 Labor Force Status of the U. S
Figure Labor Force Status of the U.S. Adult Civilian Population, April 2010 (seasonally adjusted)

3. Table 2.1 Labor Force Participation Rates by Gender, 1950–2010

4. Figure Unemployment Rates for the Civilian Labor Force, 1946–2009 (detailed data in table inside front cover)

5. Figure Employment Distribution by Major Nonfarm Sector, 1954–2010 (detailed data in table inside front cover)

6. Table 2. 2 Nominal and Real Hourly Earnings, U. S
Table Nominal and Real Hourly Earnings, U.S. Nonsupervisory Workers in the Private Sector, 1980–2009

7. Figure 2.4 Relationship among Wages, Earnings, Compensation, and Income

8. Figure 2.5 The Markets in Which Firms Must Operate

9. Table 2.3 Labor Demand Schedule for a Hypothetical Industry

10. Figure 2.6 Labor Demand Curve (based on data in Table 2.3)

11. Figure 2.7 Shift in Demand for Labor Due to Increase in Product Demand

12. Figure 2.8 Possible Shifts in Demand for Labor Due to Fall in Capital Prices

13. Figure 2.9 Market Supply Curve for Paralegals

14. Figure 2.10 Shift in Market Supply Curve for Paralegals as Salaries of Insurance Agents Rise

15. Figure 2.11 Supply of Paralegals to a Firm at Alternative Market Wages

16. Figure 2.12 Market Demand and Supply

17. Figure 2.13 Demand and Supply at the “Market” and “Firm” Levels

18. Figure 2.14 New Labor Market Equilibrium after Demand Shifts Right

19. Figure 2.15 New Labor Market Equilibrium after Supply Shifts Left

20. Figure 2.16 New Labor Market Equilibrium after Supply Shifts Right

21. Figure 2.17 Effects of an Above-Market Wage

22. Figure 2.18 Effects of a Below-Equilibrium Wage

23. Figure 2.19 Labor Supply to the Military: Different Preferences Imply Different “Rents”

24. Table Unemployment and Long-Term Unemployment, Selected European and North American Countries, 2007