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Discussion Paper
Was the 2021-22 Rise in Inflation Equitable?
Avtar, Ruchi; Chakrabarti, Rajashri; Pinkovskiy, Maxim L. (2022-06-30)
In our previous post, we discussed how the labor market recovery—the “maximum employment” half of the Federal Reserve System’s dual mandate—featured not only a return of overall employment rates to pre-pandemic levels, but also a narrowing of racial and ethnic gaps in employment rates. In this post, we take up the second half of the dual mandate—price stability—and discuss heterogeneity in inflation rates faced by different demographic groups during the rise in inflation in2021-22. We find that, in contrast to inequalities in employment rates, disparities in inflation rates have ...
Liberty Street Economics , Paper 20220630b

Working Paper
Does Access to Free Pre-Kindergarten Increase Maternal Labor Supply?
Ilin, Elias; Shampine, Samantha; Terry, Ellyn (2022-02-02)
In this paper, we evaluate the effects of free pre-kindergarten (pre-K) programs on the labor force participation (LFP) of mothers. We use variation in pre-K rules across all US states, including income eligibility requirements in some states. To estimate the causal effects of access to pre-K on labor supply, we exploit the panel aspect of the monthly Current Population Survey between 2002 and 2019. Specifically, we look at the change in labor market behavior of women when their child becomes age-eligible for pre-K, controlling for individual factors. We find that access to free pre-K ...
FRB Atlanta Working Paper , Paper 2022-3

Report
Wage Insurance for Displaced Workers
Hyman, Benjamin; Kovak, Brian K.; Leive, Adam (2024-05-01)
Wage insurance provides income support to displaced workers who find reemployment at a lower wage. We analyze wage insurance in the context of the U.S. Trade Adjustment Assistance (TAA) program by merging linked employer-employee Census data to TAA petitions and leveraging a discontinuity in eligibility based on worker age. Wage insurance eligibility increases short-run employment probabilities and leads to higher long-run cumulative earnings. We find shorter non-employment durations largely drive increased long-term earnings among workers eligible for wage insurance. Our results are ...
Staff Reports , Paper 1105

Discussion Paper
Long COVID Appears to Have Led to a Surge of the Disabled in the Workplace
Deitz, Richard (2022-10-20)
Although most of those infected with COVID-19 have recovered relatively quickly, a substantial share has not, and remains symptomatic months or even years later, in what is commonly referred to as long COVID. Data on the incidence of long COVID is scarce, but recent Census Bureau data suggest that sixteen million working age Americans suffer from it. The economic costs of long COVID is estimated to be in the trillions. While many with long COVID have dropped out of the labor force because they can no longer work, many others appear to be working despite having disabilities related to the ...
Liberty Street Economics , Paper 20221020b

Discussion Paper
How Do People Find Jobs?
Faberman, R. Jason; Schuh, Rachel; Mueller, Andreas I.; Topa, Giorgio; Sahin, Aysegul (2017-04-05)
Most people find themselves looking for work at some point in their adult lives. But what brings employers and job seekers together? And does searching for a new job while unemployed lead to different outcomes than searching while employed? Little is known about the job search process for unemployed workers. Even less is known about the search process and outcomes for currently employed workers?so?called ?on?the?job? search. This Liberty Street Economics post aims to shed light on these questions and to draw some conclusions for our understanding of labor market dynamics more generally.
Liberty Street Economics , Paper 20170405

Journal Article
How Many Workers Are Truly “Missing” from the Labor Force?
Tuzemen, Didem (2022-05-06)
As of March 2022, the U.S. labor force participation rate remained one percentage point below its pre-pandemic level. After accounting for the effects of slower population growth and the aging of thepopulation in the past two years, I estimate that around 2 million workers are missing from the laborforce. Individuals age 65 and older, whose participation rates remain persistently below pre-pandemiclevels, constitute most of the missing labor force.
Economic Bulletin , Issue May 6, 2022 , Pages 4

Discussion Paper
How Do Firms Respond to Hiring Difficulties? Evidence from the Federal Reserve Banks' Small Business Credit Survey
de Zeeuw, Mels; Terry, Ellie (2018-08-21)
Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation. {{p}} The authors find significant variation in hiring difficulties by type of firm, and a firm's response appears to depend on the nature of the problem. The most common response is to increase compensation, with firms that experience competition from other employers being the most likely to do so. Other common ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2018-1

Report
Is Occupational Licensing a Barrier to Interstate Migration?
Kleiner, Morris M.; Johnson, Janna (2017-12-06)
Occupational licensure, one of the most significant labor market regulations in the United States, may restrict the interstate movement of workers. We analyze the interstate migration of 22 licensed occupations. Using an empirical strategy that controls for unobservable characteristics that drive long-distance moves, we find that the between-state migration rate for individuals in occupations with state-specific licensing exam requirements is 36 percent lower relative to members of other occupations. Members of licensed occupations with national licensing exams show no evidence of limited ...
Staff Report , Paper 561

Discussion Paper
How Widespread Is the Impact of the COVID-19 Outbreak on Consumer Expectations?
Armantier, Olivier; Koşar, Gizem; Pomerantz, Rachel; Skandalis, Daphne; Smith, Kyle; Topa, Giorgio; Van der Klaauw, Wilbert (2020-04-16)
In a recent blog post, we showed that consumer expectations worsened sharply through March, as the COVID-19 epidemic spread and affected a growing part of the U.S. population. In this post, we document how much of this deterioration can be directly attributed to the coronavirus outbreak. We then explore how the effect of the outbreak has varied over time and across demographic groups.
Liberty Street Economics , Paper 20200416b

Conference Paper
Re-Evaluating Labor Market Dynamics : Economic Policy Symposium, Jackson Hole, Wyoming, August 21-23, 2014
Kansas City, Federal Reserve Bank (2014)
Proceedings - Economic Policy Symposium - Jackson Hole

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