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Jobs

After an upswing at the beginning of this year, the labor market is back in the doldrums. The latest report from the Bureau of Labor Statistics said the U.S. economy created just 114,000 jobs in September, and although the unemployment rate fell to 7.9 percent, the workforce remains shrunken. And even those gloomy numbers obscure the suffering of the long-term unemployed and the millions of workers who have dropped out of the labor force in the aftermath of the recession. Stay up-to-date on the state of the labor market with AEI’s economic experts, and find out their ideas for how to get America back to work.

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Almost 30% of workers in the US need a license to do their job. Occupational licensing has increased quite a bit from its 1950s level of 5%.

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Apparently actual individuals looking for work may be more inventive than Prof. Krugman. Since that’s pretty much what appears to have happened.

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San Francisco Fed

Job growth has been focused on the high-skill and low skill occupations, with losses in the middle of the skill scale (i.e. those “for which computer technologies are well-suited and can largely replace human labor”), demonstrating increasing polarization in the labor market.

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This is a great report. But most of the measures of slack didn’t change, so no surprise that we aren’t seeing wage inflation.

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The Economist

The latest from the AEIdeas blog.

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The US economy is generating more jobs, but some key areas of the labor market — from wages to long-term unemployment — remain depressed.

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The U.S. economy is creating lots of new jobs, but where are the wage gains?

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Can there be any doubt, really, about the Chart of Charts for the past 12 months?

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Americans are entering the labor force at the lowest pace in records kept since 1990. Is the reason in lack of good jobs or there are other factors affecting low civilian labor force participation?

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While there is a demographic piece to the story — all those baby boomers retiring — that is not the whole story.

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