ECSENOMICS Chapter 13 The Labor market McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 13 The Labor Market
ECSENOMICS Wages Have Improved as Hours of Work have Declined T-90 Figure 13-1 Wage rate per hour (constant dollars) Average working hours 70 189019001910192019301940195019601970198019902000 McGraw-Hilllrwin Source: U.S. Department of Commerce
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Wages Have Improved as Hours of Work Have Declined T-90 Figure 13-1 Source: U.S. Department of Commerce
ECSENOMICS Demand for Labor reflects Marginal Productivity T91 Figure 13-2 D Labor inputs McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Demand for Labor Reflects Marginal Productivity T-91 Figure 13-2
ECSENOMICS Favorable Resources, Skills, Management, Capital and Technology Explain High U.S. Wages T92 Figure 13-3 (a) United States (b) Mexico D =3三 点10 S M 33- Quantity of labor Quantity of labor McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Favorable Resources, Skills, Management, Capital, and Technology Explain High U.S. Wages T-92 Figure 13-3
ECSENOMICS As Wages Rise, Workers May Work Fewer Hours T93 Figure 13-4 0 Quantity of labor McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. As Wages Rise, Workers May Work Fewer Hours T-93 Figure 13-4
ECSENOMICS Earnings Benefit from Education and Experience T94 Figure 13-5 20 College dur ome college High school graduates 210 High school 5> dropouts 20 30 Years of experience McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Earnings Benefit from Education and Experience T-94 Figure 13-5
ECSENOMICS Relative Income gains have been t Dramatic for College Graduates 195 Figure 13-6 1967 197119731975197719791981983198519871989199119931995 Year McGraw-Hillrwin Source: Economic Report of the President, 1997. Data applies to full-time, year-round workers
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Relative Income Gains Have Been Dramatic for College Graduates T-95 Figure 13-6 Source: Economic Report of the President, 1997. Data applies to full-time, year-round workers
ECSENOMICS Unions Set High Standard Wage and Limit Employment T96 Figure 13-7 D Quantity of labor McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Unions Set High Standard Wage and Limit Employment T-96 Figure 13-7
EC*NOM\& DIScrimination by Exclusion Lowers the t Wage Rates of Excluded Minorities T97 Figure 13-8 (a) Market for the Privileged (b) Market for Minorities Wp W Wa) Quantity of high-skilled jobs Quantity of low-skilled jobs McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Discrimination by Exclusion Lowers the Wage Rates of Excluded Minorities T-97 Figure 13-8
ECSENOMICS Minorities and Females show Uneven C Progress in Closing the Wage Gap 1-98a Figure 13-9a ta) Male Workers Black zsEt Break in series ,⊥⊥⊥⊥⊥AL⊥⊥⊥⊥⊥⊥⊥ 19671969197119731975197719y91981198319851987198919911931995197 Ye ar McGraw-Hilllrwin Source: Economic Report of the President, 1998. Note that be fore 1979
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Minorities and Females Show Uneven Progress in Closing the Wage Gap T-98a Figure 13-9a Source: Economic Report of the President, 1998. Note that before 1979, the series for blacks includes other nonwhite workers
