Labor-Force Participation, Revisited

We have previously discussed the importance of labor-force participation (see blog from 09 Jan 2018).  The recently reported February jobs report was probably about as good as it gets. Nonfarm payrolls grew by 313,000, the unemployment rate held steady at 4.1%, wages grew by a too modest 0.1% and, most important, the labor-force participation rate … Continued

Is $15 the New De Facto Minimum Wage?

Over the last several months, several major employers have announced increases in the minimum hourly rate they plan to pay during 2018 (see our blog from November 3).  These planned wage increases have tended to anticipate that their lowest pay rate would approximate $11.00-12.00 per hour in 2018 with additional increases in future years.  Subsequently, … Continued

Involuntary Part-time Work

The economy is continuing to add jobs and the U.S. April jobs report was generally positive.  On the plus side, the unemployment rate of 4.4% would suggest that the country is at, or near, full employment.  However, as noted previously, the labor force participation rate remains near record lows at 62.9%.  This is troubling, as … Continued