Labor Markets: Insights and Trends
Explore the dynamics of labor markets with in-depth analysis on labor demand, supply, earnings, union membership, workforce demographics, and participation rates. Gain valuable insights into the labor landscape of the United States and select countries, backed by data and statistics.
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Presentation Transcript
Chapter Nine: Markets for Labor
Figure 9.1 An Individual Firms Labor Figure 9.1 An Individual Firm s Labor Demand Curve Demand Curve
Figure 9.2 Upward Figure 9.2 Upward- -Sloping Labor Supply Curve Sloping Labor Supply Curve
Figure 9.3 Backward Figure 9.3 Backward- -Bending Individual Labor Supply Curve Bending Individual Labor Supply Curve
Figure 9.4 The Labor Market for Real Estate Agents Figure 9.4 The Labor Market for Real Estate Agents
Figure 9.5 Median Weekly Earnings of U.S. Workers, by Figure 9.5 Median Weekly Earnings of U.S. Workers, by Educational Attainment, 2016 Educational Attainment, 2016 Source: U.S. Bureau of Labor Statistics, 2017a.
Figure 9.6 Union Membership in the United States, Figure 9.6 Union Membership in the United States, 1950 1950- -2016 2016 Source: Mayer, 2004; U.S. Bureau of Labor Statistics, 2017.
Figure 9.7 Median Weekly Earnings, Select Groups of U.S. Figure 9.7 Median Weekly Earnings, Select Groups of U.S. Workers, Age 25 and Over, 2017 Workers, Age 25 and Over, 2017 Source: U.S. Bureau of Labor Statistics, 2017d.
Figure 9.8 Labor Force Participation Rates in the United States, Figure 9.8 Labor Force Participation Rates in the United States, 1960 1960- -2017 2017 Source: U.S. Bureau of Labor Statistics, 2017e.
Figure 9.9 Average Annual Hours Worked, Figure 9.9 Average Annual Hours Worked, Select Countries, 2016 Select Countries, 2016 Source: OECD, OECD. Stat, Average Annual Hours Actually Worked per Worker.
Figure 9.10 Real Median Weekly Wages Versus Real Corporate Figure 9.10 Real Median Weekly Wages Versus Real Corporate Profits, United States, 1980 Profits, United States, 1980- -2016 2016 Source: Federal Reserve Bank of St. Louis, National Income: Corporate Profits before Tax; U.S. Bureau of Labor Statistics, Weekly and Hourly Earnings Data from the Current Population Survey.
Figure 9.11 Marginal Revenue Product of Labor and Marginal Figure 9.11 Marginal Revenue Product of Labor and Marginal Factor Cost of Labor Factor Cost of Labor
