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

2. 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)

3. 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...

10. Select data Labor market BLS seasonally adjusted % of civilian labor force Nov 2007Jul 2008Sep 2008Oct 2008Nov 2008Dec Headline Unemployment4.7 5.76.16.5 6.77.2 discouraged workers.0.20.3 0.4 marginally attached.0.6 0.7 0.80.7 involuntary part-time workers.2.93.73.94.34.75.2 Total Underutilization8.4 10.311.011.8 12.513.5 Unemployed 15+ weeks1.62.02.32.6 2.9 Job losers2.32.93.33.73.94.2

16. Japanese Labor Force Participation by Age & Gender

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

18. Old-age (65-) share of population 1990200520202040 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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24. International Comparison, Women

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

32. Total Fertility Rate in Japan and Southern Europe Figure 32

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

47. Figure 47