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Shift to Working from Home Diminished Large Cities' Productivity Premium
Liu, Sitian; Su, Yichen (2022-08-30)
Since the start of the pandemic, the reduced presence of in-office workers has reduced the wage premium attached to large cities and may have diminished the productivity edge of these areas.
Dallas Fed Economics

Discussion Paper
Supply and Demand: When Will We See Balance?
Kosakow, Jason; Waddell, Sonya Ravindranath (2022-02-25)
Regional Matters

Report
Miss-Allocation: The Value of Workplace Gender Composition and Occupational Segregation
Schuh, Rachel (2024-03-01)
I analyze the value workers ascribe to the gender composition of their workplace and the consequences of these valuations for occupational segregation, tipping, and welfare. To elicit these valuations, I survey 9,000 U.S. adults using a hypothetical job choice experiment. This reveals that on average women and men value gender diversity, but these average preferences mask substantial heterogeneity. Older female workers are more likely to value gender homophily. This suggests that gender norms and discrimination, which have declined over time, may help explain some women’s desire for ...
Staff Reports , Paper 1092

Wage growth still exceeds 3 percent despite slowing in business survey measures
Kerr, Emily; Atkinson, Tyler (2023-08-01)
Fed policymakers working to reduce inflation have closely monitored how fast wages have risen. National estimates put recent 12-month wage inflation at around 4–5 percent, though these measures can lag other indicators of labor market conditions. More timely wage data can be found from the five regional Federal Reserve Banks that run business surveys.
Dallas Fed Economics

Speech
Restoring Balance
Williams, John C. (2022-02-18)
Remarks at New Jersey City University (delivered via videoconference).
Speech

How valuable is a short-term credential for a job seeker? It’s complicated
Crockett, Anna; Ryder Perlmeter, Emily; Zhang, Xiaohan (2024-08-09)
Employer demand for short-term credentials is rising. But the likelihood of such credentials leading to higher wage offers depends on the industry and can change over time.
Dallas Fed Communities

Speech
An Economic Outlook - 2019 Inquirer Influencers of Finance
Harker, Patrick T. (2019-02-28)
Philadelphia Fed President Patrick Harker provided remarks on his economic outlook, the labor market, job skills, and the future of work at the 2019 Inquirer Influencers of Finance event. "It's my hope that more businesses in the region ? and across the country ? will begin to take another look at how they're approaching training and hiring," Harker said.
Speech , Paper 159

Working Paper
Real Wage Growth at the Micro Level
Harding, Elisabeth; Gregory, Victoria (2023-07)
This paper investigates patterns in real wage growth in 2022 to determine whether wages have kept up with rising price levels, and how this differs among labor market participants. Using the CPS for wages and imputing expenditure data from the CEX, we measure separately nominal wage growth and inflation rates at the micro level. We find that there is more heterogeneity in the former, meaning that when we combine them, an individual’s real wage growth is primarily driven by their nominal wage growth. In 2022, 57% of individuals experienced negative real wage growth, with older and less ...
Working Papers , Paper 2023-024

Discussion Paper
Do Veterans Face Disparities in the Labor Market—And What Accounts for Them?
Pinkovskiy, Maxim L.; Garcia, Dan; Chakrabarti, Rajashri (2023-05-25)
We continue our series on military service and consider veterans’ earnings and labor market outcomes. We find that veterans earn more than 12 percent less and are 4 percentage points (18 percent) more likely to be out of the labor force than comparable nonveterans. Interestingly, accounting for veterans’ differences from comparable nonveterans in terms of education and disability status largely explains these labor market differences.
Liberty Street Economics , Paper 20230525b

Journal Article
Impact of U.S. Labor Productivity Losses from Extreme Heat
Fried, Stephie; Casey, Gregory; Gibson, Matthew (2024-05-28)
Extreme heat decreases labor productivity in sectors like construction, where much work occurs outdoors. Because construction is an important component of investment, lost productivity today will slow how much capital is built up for future use and thus can have long-lasting impacts on overall economic outcomes. Combining estimates of lost labor productivity due to extreme heat with a model of economic growth suggests that, by the year 2200, extreme heat will reduce the U.S. capital stock by 5.4% and annual consumption by 1.8%.
FRBSF Economic Letter , Volume 2024-14 , Issue 6

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