Ch.06Unemployment课件.pptVIP

* Figure 6-3 on p.162. Abbreviation: “eq’m” = equilibrium * * * * Teens and single mothers are more likely to be in minimum wage jobs than workers from other demographic groups. These data show that these groups experienced higher unemployment after the minimum wage was raised in September 1996. These increases are not due to aggregate shocks, as the overall unemployment rate was the same in both periods. * See p.165 for more discussion about insiders and outsiders. * These data show that union workers (and non-union workers represented by unions) earn about 18% more than non-union workers in the same industry. Also, there is a positive correlation between the proportion of workers in unions or covered by union contracts and the wage ratio (the correlation equals 0.5). Before revealing the “U % of total” column, you might ask your students which of these industries they think are most heavily unionized. source: Bureau of Labor Statistics (stats.bls.gov) Key to columns: 2. “U % of total” = number of union members as a % of total # of employed workers. 3. “RBU % of total” = number of nonunion workers represented by a union as % of the total # of employed workers. 4. Wage ratio = 100 times X/Y, where X is (a weighted average of) the mean weekly earnings of union RBU workers, Y is the mean weekly earnings of nonunion workers in the industry. (The weights in X are the number of union RBU workers). The last row gives data for all workers in the industries shown. The table omits data for the agriculture industry; there were fewer than 50,000 union workers in agriculture, so the BLS did not report average weekly earnings for union workers in agriculture. * Actual natural rates of unemployment in the U.S. 扬凰锑掳岳汐俺亚胖钟拯憋撑宁适柬构扎榔傲拟妒轧籍扮坠搔梆惺究端耐Ch.06Unemployment课件Ch.06Unemployment课件 EXPLAINING THE TREND: The minimum wage The trend in the real minimum wage is similar to the behavior of the natural rate of unemployment. 包予惑隘欺胺凶元裁遵陇栋功蝶贬乏丰龙丛耶宛挞遍倍鸥轨沦包袖亩