1. Center for Labor Markets and Policy | Drexel University Paul E. Harrington Center for Labor Markets and Policy Drexel University America at Full-Employment? Understanding Labor Market Imbalances in the Context of Sluggish Economic Growth

2. Center for Labor Markets and Policy | Drexel University

4. The Beveridge Curve (Monthly Job Vacancy Rate versus Unemployment Rate) Seasonally Adjusted, December 2000 to April 2015

5. Center for Labor Markets and Policy | Drexel University Unemployment and Job Vacancy Rates, by Selected Major Industry, U.S. April, 2015 Unemployment RateJob Vacancy Rate Construction6.73.7 Manufacturing4.62.3 Durable4.12.6 Non Durable5.42.6 TTU5.73.5 RetailNA3.4 Prof and Business6.15.1 Education & Health3.54.4 Health Care and Social AssistanceNA4.7 Leisure & Hospitality7.94.7 Arts and EntertainmentNA3 Accomommodataiona nd Food ServicesNA4.9 Government2.32.2

6. Center for Labor Markets and Policy | Drexel University UnemployedJob VacanciesU/V Construction5691533.72 Manufacturing7023272.15 Durable4052091.94 Non Durable2971192.50 TTU14989681.55 Retail5430.00 Prof and Business96310580.91 Education & Health80610090.80 Health Care and Social Assistance9100.00 Leisure & Hospitaltiy11177341.52 Arts and Entertainment670.00 Accommodation and Food Services6670.00 Government4890.00 Ratio of Unemployed to Job Vacancies in the U.S., 2015

7. Center for Labor Markets and Policy | Drexel University Job VacancyNew HiresSeparations NumberPercentNumberPercentNumberPercent Ratio of Separations to Hires Total53763.750883.548813.50.96 Construction1532.33265.12844.40.87 Manufacturing3272.62562.12592.11.01 Durable2092.61481.915321.03 Non Durable1192.61082.41072.40.99 TTU9683.510393.910333.90.99 Retail5433.47184.67144.60.99 Prof and Business10585.110355.310015.10.97 Education & Health10094.45962.75222.40.88 Health Care and Social Assistance 9104.75132.84522.40.88 Leisure & Hospitaltiy7344.79156.19496.31.04 Arts and Entertainment6731235.81326.21.07 Accommodation and Food Services 6674.97926.18176.31.03 Government4892.23391.53281.50.97 Job Openings and Labor Turnover in the U.S., 2015

8. Center for Labor Markets and Policy | Drexel University Unemployment Rates by Occupation in the U.S., 2007, 2010, and 2014 (CPS Annual Averages) Occupation200720102014 Management Occupations1.84.92.7 Business and Financial Operations Occupations2.45.73.7 Computer and Mathematical Occupations2.25.32.8 Architecture and Engineering Occupations1.66.23.2 Life, Physical, and Social Science Occupations2.04.73.8 Community and Social Services Occupations2.34.73.1 Legal Occupations2.42.72.4 Education, Training, and Library Occupations2.34.23.4 Arts, Design, Entertainment, Sports, and Media Occupations4.48.96.2 Healthcare Practitioner and Technical Occupations1.32.62.2 Healthcare Support Occupations4.57.75.4 Protective Service Occupations3.76.04.5 Food Preparation and Serving Occupations7.612.48.6 Building and Grounds Cleaning Occupations6.812.88.7 Personal Care and Service Occupations4.88.77.0 High-Level Sales Occupations2.76.23.4 Low-Level Sales Occupations7.012.38.7 Office and Administrative Support Occupations4.08.75.9 Farming, Fishing, and Forestry Occupations8.516.311.7 Construction and Extraction Occupations7.720.29.7 Installations, Maintenance, and Repair Occupations3.49.34.5 Production Occupations5.713.27.0 Transportation and Material Moving Occupations6.112.57.8

9. Center for Labor Markets and Policy | Drexel University All WorkersFull-Time Workers YearMeanMedian MeanMedian 20079337381,048856 20089237401,041846 20099327431,062883 20109387421,071868 20119397581,062884 20129087221,039853 20139257321,052864 2014950769 1,078893 Mean/Median Weekly Earnings of Wage and Salary Workers, New York (In 2014 Dollars)

10. Center for Labor Markets and Policy | Drexel University

13. Select Start DateSelect End Date Absolute Change Relative Change Jul-03Dec-07 Total Nonfarm13019013835081606.3% Total Private10855711597474176.8% Goods-producing21708219762681.2% Service-providing10848211637478927.3% Private Service-providing868499399871498.2% Mining and Logging57174016929.6% Construction6735749075511.2% Manufacturing1440213746-656-4.6% Durable Goods88868707-179-2.0% Nondurable Goods55165039-477-8.6% Trade, transportation, and utilities252182671414965.9% Wholesale Trade5596.56037.8441.37.9% Retail Trade14884.415570.8686.44.6% Transportation and warehousing4163.44548384.69.2% Utilities573.9557.1-16.8-2.9% Information31763024-152-4.8% Financial Activities810082821822.2% Professional and business services1599918051205212.8% Education and health services1681318861204812.2% Leisure and hospitality1214313550140711.6% Other Services540055161162.1% Government21633223767433.4% Trends in Non Farm Payroll Employment in the U.S., July 2003 to December 2007

14. Center for Labor Markets and Policy | Drexel University Select Start DateSelect End Date Absolute Change Relative Change Dec-07Feb-10 Total Nonfarm138350129649-8701-6.3% Total Private115974107173-8801-7.6% Goods-producing2197617627-4349-19.8% Service-providing116374112022-4352-3.7% Private Service-providing9399889546-4452-4.7% Mining and Logging740674-66-8.9% Construction74905500-1990-26.6% Manufacturing1374611453-2293-16.7% Durable Goods87076985-1722-19.8% Nondurable Goods50394468-571-11.3% Trade, transportation, and utilities2671424537-2177-8.1% Wholesale Trade6037.85443.6-594.2-9.8% Retail Trade15570.814399-1171.8-7.5% Transportation and warehousing45484140-408-9.0% Utilities557.1554.8-2.3-0.4% Information30242738-286-9.5% Financial Activities82827724-558-6.7% Professional and business services1805116548-1503-8.3% Education and health services18861197568954.7% Leisure and hospitality1355012927-623-4.6% Other Services55165316-200-3.6% Government22376224761000.4% Trends in Non Farm Payroll Employment in the U.S., December 2007 to February 2010

15. Center for Labor Markets and Policy | Drexel University Select Start DateSelect End Date Absolute Change Relative Change Feb-10Sep-15 Total Nonfarm12964913961999707.7% Total Private107173117739105669.9% Goods-producing176271931516889.6% Service-providing11202212030482827.4% Private Service-providing895469842488789.9% Mining and Logging67491023635.0% Construction5500619169112.6% Manufacturing11453122147616.6% Durable Goods6985771973410.5% Nondurable Goods44684495270.6% Trade, transportation, and utilities245372646719307.9% Wholesale Trade5443.65844.3400.77.4% Retail Trade143991541010117.0% Transportation and warehousing41404659.6519.612.6% Utilities554.8553.3-1.5-0.3% Information27382757190.7% Financial Activities772480072833.7% Professional and business services1654819231268316.2% Education and health services197562158518299.3% Leisure and hospitality1292714795186814.5% Other Services531655822665.0% Government2247621880-596-2.7% Trends in Non Farm Payroll Employment in the U.S., February 2010 to September 2015

16. Center for Labor Markets and Policy | Drexel University

17. Trends in CLFPR of the 16+ Population by Gender, Race Ethnicity, and Nativity Status, 2000 to 2015 2000200720102015 Absolute Change Relative Change All (16+)67.266.264.963.0-4.2-6% Male74.973.471.369.5-5.5-7% Female60.159.558.856.9-3.2-5% White67.266.164.862.7-4.5-7% Black66.063.762.561.6-4.4-7% Asian67.466.565.062.9-4.4-7% Hispanic69.269.167.765.9-3.3-5% Other63.364.862.461.6-1.7-3% Foreign-Born67.168.267.564.7-2.3-3% Native-Born67.265.964.462.6-4.6-7%

18. Center for Labor Markets and Policy | Drexel University 2000200720102015 Absolute Change Relative Change HS Students39.830.022.721.5-18.3-46% HS Dropouts47.349.047.946.7-0.6-1% H.S. Diploma/GED66.364.262.659.0-7.2-11% Some College71.969.167.064.1-7.8-11% Associate's Degree78.576.675.171.5-7.0-9% Bachelor Degree79.278.076.974.8-4.5-6% Master's or Higher Degree 80.678.777.475.3-5.4-7% Trends in the CLFPR of the 16+ Population in the U.S. by Educational Attainment, 2000 to 2015

19. Center for Labor Markets and Policy | Drexel University 2000200720102015 Absolute Change Relative Change 16-1952.442.336.035.7-16.7-32% 20-2477.974.671.871.0-6.9-9% 25-2984.783.281.980.7-4.0-5% 30-3484.683.382.581.3-3.3-4% 35-4484.883.983.382.0-2.8-3% 45-5482.582.081.379.8-2.7-3% 55-6459.664.165.064.24.68% 65+13.216.417.519.46.146% Trends in the CLFPR of the 16+ Population in the U.S., by Age Group, 2000 to 2015

20. Center for Labor Markets and Policy | Drexel University Estimating the Size of the Missing Labor Force in the U.S. 2015 Actual Population 2000 Actual CLFPR Hypothetical 2000 Labor Force (2000 LFPR) Actual 2015 Labor Force Labor Supply Decrease Percent Impact 16-19166199400.5239248707593.55934761-2772832-31.8% 20-24220240340.779171716046115633079-1527382-8.9% 25-29216338050.8471051832610717458438-867668.6-4.7% 30-34210343500.8459661779435017108119-686230.5-3.9% 35-44396933860.8479753365899832562603-1096395-3.3% 45-54426861300.8249493521386734044363-1169504-3.3% 55-64404617230.59591824111856259703621858505.87.7% 65+462290150.1324816124448.989641722839723.146.4% 161097680157675897-3421783-2.1%

21. Center for Labor Markets and Policy | Drexel University 2000200720102015 Absolute Change Relative Change 16-1913.215.625.517.44.333% 20-247.38.315.510.22.839% 25-294.15.311.06.42.254% 30-343.44.29.35.21.854% 35-443.03.58.14.31.343% 45-542.53.27.73.91.459% 55-642.53.17.24.01.561% 65+3.03.26.63.90.930% Trends in the Unemployment Rate of the Civilian Labor Force by Age Group, 2000 to 2015

22. Center for Labor Markets and Policy | Drexel University Trends in the Employment to Population Ratio by Age in the U.S., 2000 to 2015 2000200720102015 Absolute Change Relative Change 16-1945.535.726.829.5-16.0-35% 20-2472.268.460.763.8-8.4-12% 25-2981.278.872.975.5-5.6-7% 30-3481.879.874.877.1-4.6-6% 35-4482.281.076.578.5-3.7-5% 45-5480.579.475.076.6-3.8-5% 55-6458.162.260.361.63.56% 65+12.915.916.418.65.845% Total64.563.158.659.5-5.0-8%

23. Center for Labor Markets and Policy | Drexel University 2000200720102015 Absolute Change Relative Change 16-1915.1310.426.477.84-7.29-48% 20-2453.6248.0736.9440.25-13.37-25% 25-2971.7968.3460.6363.46-8.33-12% 30-3472.4770.463.8467-5.47-8% 35-4472.4871.3765.7468.63-3.85-5% 45-5471.5270.3564.6867.39-4.13-6% 55-6447.8851.7849.3551.413.537% 65+6.188.819.3411.465.2885% Full-Time Employment to Population Ratio in the U.S., 2000 to 2015

24. Center for Labor Markets and Policy | Drexel University 2000 FT E/P Ratio Actual 2015 Population Hypothetical 2015 FT Employment Actual 2015 FT Employment FT Employment Loss Percent Loss 16-190.15131661994025145971303284-1211313-48% 20-240.536222024034118092878863649-2945638-25% 25-290.7179216338051553090913729354-1801554-12% 30-340.7247210343491524359314093497-1150095-8% 35-440.7248396933862876976627240581-1529185-5% 45-540.7152426861313052912128765610-1763511-6% 55-640.478840461723193730732080314114300687% 65+0.06184622901428569535298379244142685% Impact of Economic Turbulence of Full-Time Employment, by Age Group, 2000 to 2015

25. Center for Labor Markets and Policy | Drexel University Mean Annual Earnings GenderEducational Attainment2000200720102014 Male<12 or 12, No HS Diploma26494259432541327950 High School Diploma47215450074239242886 Some College54063498014669248125 Bachelor's Degree89162841427876778820 Master's or Higher Degree125941119006115948115477 Total61880598245771459146 Female<12 or 12, No HS Diploma15350152081480116199 High School Diploma28155295432798928311 Some College32488333963164031081 Bachelor's Degree50933509945054750603 Master's or Higher Degree69135708487059467555 Total36040389203856539202 Total<12 or 12, No HS Diploma21867217992127723446 High School Diploma38205381553613236744 Some College42991413763885439377 Bachelor's Degree70976677576496964620 Master's or Higher Degree100576956289308490655 Total49593499284858949645 Trends in the Real Mean Annual Earnings of the Employed, 16 to 64 Years Old, 2000 to 2014

26. Center for Labor Markets and Policy | Drexel University Mean Annual Earnings GenderEducational Attainment2000200720102014 Absolute Change Relative Change Male<12 or 12, No HS Diploma2649425943254132795014565.5% High School Diploma47215450074239242886-4329-9.2% Some College54063498014669248125-5939-11.0% Bachelor's Degree89162841427876778820-10341-11.6% Master's or Higher Degree125941119006115948115477-10464-8.3% Total61880598245771459146-2734-4.4% Female<12 or 12, No HS Diploma153501520814801161998495.5% High School Diploma281552954327989283111560.6% Some College32488333963164031081-1407-4.3% Bachelor's Degree50933509945054750603-330-0.6% Master's or Higher Degree69135708487059467555-1580-2.3% Total3604038920385653920231628.8% Total<12 or 12, No HS Diploma2186721799212772344615797.2% High School Diploma38205381553613236744-1461-3.8% Some College42991413763885439377-3613-8.4% Bachelor's Degree70976677576496964620-6356-9.0% Master's or Higher Degree100576956289308490655-9921-9.9% Total49593499284858949645530.1% Trends in the Mean Annual Earnings of Employed Persons Aged 16 to 64, by Educational Attainment, 2000 to 2014 (constant 2014 dollars)

27. Center for Labor Markets and Policy | Drexel University

29. Trends in the U.S. CLFPR, by Age, Projected through 2022 2012 to 2022 Group1992200220122022 Absolute Change Relative Change Total, 16 years and older66.466.663.761.6-2.1-3% 16 to 2466.163.354.949.6-5.3-10% 16 to 1951.347.434.327.3-7.0-21% 20 to 2477.176.470.967.3-3.6-5% 25 to 5483.683.381.481.0-0.4-1% 25 to 3483.7 81.781.1-0.6-1% 35 to 4485.184.182.681.8-0.8-1% 45 to 5481.582.180.279.9-0.30% 55 and older29.734.540.541.51.03% 55 to 6456.261.964.567.53.05% 55 to 5967.470.772.575.53.04% 60 to 6445.050.555.259.84.68% 60 to 6156.059.763.868.44.67% 62 to 6437.743.749.153.84.710% 65 and older11.513.218.523.04.524% 65 to 7416.320.426.831.95.119% 65 to 6920.626.132.138.36.219% 70 to 7411.114.019.524.04.523% 75 to 796.37.411.414.93.531% 75 and older4.55.17.610.52.938%

30. Center for Labor Markets and Policy | Drexel University Trends in the Size of the Civilian Labor Force in the U.S., Projections to 2022 Projected, 2012-2022 1992200220122022 Absolute Change Relative Change Total, 16 years and older 12810514486315497516345084755.5% 16 to 2421617223662128518462-2823-13.3% 16 to 197096758658234473-1350-23.2% 20 to 2414521147801546213989-1473-9.5% 25 to 549142910172010125310319519421.9% 25 to 343536932196334653678633219.9% 35 to 443389936927327343481020766.3% 45 to 5422160325973505431600-3454-9.9% 55 and older15060207773243741793935628.8% 55 to 6411587163082471028317360714.6% 65 to 7429323665634410915457172.1% 75 and older54280413832561117885.2%

31. Center for Labor Markets and Policy | Drexel University Trends in the Size of the Civilian Labor Force Participation Rate in the U.S., by Race/Ethnicity and Projections to 2022 Participation Rate Projections, 2012 to 2022 1992200220122022 Absolute Change Relative Change White non-Hispanic66.766.563.560.8-2.7-4.4% Men76.073.869.967.0-2.9-4.3% Women58.159.657.654.9-2.7-4.9% Black63.964.861.559.8-1.7-2.8% Men70.768.463.661.7-1.9-3.1% Women58.561.859.858.3-1.5-2.6% Asian66.567.263.963.2-0.7-1.0% Men75.275.972.271.4-0.8-1.1% Women58.259.156.556.1-0.4-0.7% Hispanic origin66.869.166.465.9-0.5-0.8% Men80.780.376.174.8-1.3-1.7% Women52.857.656.656.80.20.4%

32. Center for Labor Markets and Policy | Drexel University Projected, 2012-2022 1992200220122022 Absolute Change Relative Change White non-Hispanic9872410334910189299431-2461-2.4% Men53984553405432553282-1043-1.9% Women44740480094756746149-1418-3.0% Black14162165651840020247184710.0% Men699777948594954795311.1% Women716687729805107008959.1% Asian51066604818810135194723.8% Men2799356743345341100723.2% Women230530373853479494124.4% Hispanic origin11338179432439131179678827.8% Men6900106101402617925389927.8% Women443973341036513254288927.9% Trends in the Size of the Civilian Labor Force in the U.S., by Race/Ethnicity and Projections to 2022