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post in: Facts Date:21 Jul 2013, 10:20 views:2565
Skip to content, publications, frbsf Economic Letter, economic ysis for a general audience. More than lopez half a century since the Civil Rights Act became law,.S.
Workers continue to experience different levels of success depending on their race. ysis using microdata on earnings shows that black men and women earn persistently lower wages compared with their white counterparts and that these gaps cannot be fully explained by differences in age, education, job type, or location. Especially troubling is the growing unexplained portion of the divergence in earnings for blacks relative to whites.
2017-25, during the recession and recovery, hiring has been slower than might be expected considering the large numbers of vacant jobs and unemployed individuals. This raises some concern about structural changes in the process of matching job seekers with employers.
However, the standard measures account for only the unemployed and not those who are out of the labor force. Including other non-employed groups in the measured pool of job seekers while adjusting for different job finding rates among these groups shows that the decline in matching efficiency is similar to earlier declines.
2017-24, although Chinas growth has slowed recently, the countrys demand for oil could be entering a period of faster growth that could result in substantially higher oil prices. Because Americans buy and sell oil and petroleum products in the global market, global demand prospects influence the profitability.S.
Oil producers and the costs paid.S. ysis based on the global relationship between economic development and oil demand illustrates the prospects for Chinese oil demand growth and the resulting opportunities and challenges for.S. 2017-23, the natural rate of unemployment, or u-star, is used by economists and policymakers to help assess the overall state of the labor market.
However, the natural rate is not directly observable and must be estimated. A new statistical approach estimates the natural rate over the past 100 years. Results suggest the natural rate has been remarkably stable over history, hovering between.5 and.5 for long periods, even during the Great Depression.
Recent readings on the unemployment rate have been running slightly below the natural rate estimate.
2017-22, as the economy has transitioned from recovery to expansion, the role of monetary policy has shifted to sustaining the expansion by gradually moving conventional and unconventional policy back to normal.