ch06微观经济学概要1.ppt

The Medium Run A Tour of the Labor Market The noninstitutional civilian population are the number of people potentially available for civilian employment. The civilian labor force is the sum of those either working or looking for work. Those who are neither working nor looking for work are out of the labor force. The participation rate is the ratio of the labor force to the noninstitutional civilian population. The unemployment rate is the ratio of the unemployed to the labor force. A Tour of the Labor Market Population, Labor Force, Employment, and Unemployment in the United States (in millions), 2000 The Large Flows of Workers An unemployment rate may reflect two very different realities: An active labor market, with many separations and many hires, or A sclerotic, with few separations, few hires, and a stagnant unemployment pool. The Large Flows of Workers (1) The flows of workers in and out of employment are large (2) The flows in and out of unemployment are large in relation to the number of unemployed (3) There are also large flows in and out of the labor force, much of them directly to and from employment The Large Flows of Workers From the CPS data we conclude that: The Large Flows of Workers From the CPS data we conclude that: The Large Flows of Workers From the CPS data we conclude that: Movements inUnemployment Fluctuations in the aggregate unemployment rate affect: The welfare of individual workers Wages Movements in Unemployment Since 1948, the average yearly U.S. unemployment rate has fluctuated between 3 and 10%. Movements in Unemployment When unemployment is high, the proportion of unemployed finding jobs is low. Note, the scale on the right is an inverse scale. Movements in Unemployment When unemployment is high, a higher proportion of workers lose their jobs. Wage Determination Collective bargaining is bargaining between firms and unions. Bargaining How much bargaining power a worker has depends on: How costly it would be for the firm to r