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1、Chapter 2Overview of theLabor MarketFIGURE 2.1 Labor Force Status of theU.S. Adult Civilian Population, June 20042006AUGbvii-Wubty. All riylito iv&vfwd.MODERNLABORECONOMICSRONALD G EHRENBERGCopyngh( (2006 Pearson AdOson-Wesley. All rights reserved2-4TABLE 2.1 Labor Force ParticipationRates by Ge

2、nder, 1950-2004YearTotalMenWomen195059.9%86.8%33.9%I96060.284.037.819706I.380.643.4198064.27755I.6199066.576.457.5200067.274.760.22004 (June)66.073.359.2Sources: 1950-1980: U.S. President, Employment and Training Report of the President (Washington, D.C.: U.S.Government Printing Office), transmitted

3、 to the Congress 1981, Thblc A 1.1990: U.S. Bureau of Labor Statistics, Employment and Earnings 45 (February 1998), Tables A-i, A-2. 2000:U.S. Bureau of Labor Statistics, Employment Situation (News Release, October 2001), lablc A 1. 2004: U.S.Bureau of Labor Statistics, Employment Situation (News Re

4、lease, July 2004), Table A i Data and news releasesare available online at .Copynght 2006 Pearson Addison-Wesley. All rights reserved.2-3FIGURE 2.2 Unemployment Rates for theCivilian Labor Force, 1900-2003(detailed data in table inside front cover)YearCopyngh( (2006 Pearson AdOson-W

5、esley. All rights reserved2-6FIGURE 2.3 Employment Distribution byMajor Nonfarm Sector, 1954-2003 (detailed data intable inside front cover)Cumulative 100EmploymentDistribution (%)8070605040302010YeaiCopyngh( (2006 Pearson AdOson-Wesley. All rights reservedTABLE 22 Nominal and Real Hourly Earnings,U

6、.S. Nonsupervisory Workers in the PrivateSector, 1980-2003198019902003Average Hourly Earnings$ 6.84$ 10.19$ 15.38Consumer Price Index (CPI) using 1982-1984 as a base82.4130.7184.0Average Hourly Earnings, 1982-1984 dollars (using CPI)$ 8.30$ 7.80$ 8.36Average Hourly Earnings, 2003 dollars (using CPI)

7、$ 15.27$ 14.35$ 15.38Average Hourly Earnings, 2003 dollars (using CPIinflation less 1 percent per year)$ 12.20$ 12.69$ 15.38Source: U.S. President, Economic Report of the President (Washington, D.C.: U.S. Government Printing Office,2004), Tables B-47, B-60.Nongovomrront services195419641974198419942

8、003Government servicesCopyngh( (2006 Pearson AdOson-Wesley. All rights reserved2-8FIGURE 2.4 Relationship between Wages,Earnings, Compensation, and IncomeWage Rate(pay per unit of time)Employee Benefits(in-kind or deterred payments)Total CompensationUnearned Income (interest, dividends,government tr

9、ansfer paymentsIncomeCopyngh( (2006 Pearson AdOson-Wesley. All rights reservedOUTCOMESUnits ofTime WorkedTerms of EmploymentLevels of Employmentfor various occupationalskill, demographic groupsFIGURE 2.5 The Markets in Which FirmsMust OperateCopyright 2006 Pearson AdOson-Wesley. All rights reserved2

10、-10TABLE 2.3 Labor Demand Schedule for aHypothetical IndustryWage RateDesired Employment Level.OO.OO.OO.OO.OO.OO$.8.25019016013010070Note: Employment levels can be measured in number of employees or number of labor hours demanded Wehave chosen here to use number of employees.Copyright 2006 Pe

11、arson Addison-Wesley. All rights reserved2-9FIGURE 2.6 Labor Demand Curve(based on data in Table 2.3)Copyright 2006 Pearson AdOson-Wesley. All rights reserved2-11Number of WorkersCopynght 2006 Pearson AdOson-Wesley. All rights reserved2-12FIGURE 2.7 Shift in Demand for LaborDue to Increase in Produc

12、t DemandNumber of WorkersCopynght 2006 Pearson AdOson-Wesley. All rights reservedFIGURE 2.8 Possible Shifts in Demand forLabor Due to Fall in Capital PricesWageWage(a) Scale Effect May DominateDemand after a Fall inCapital PricesDemand Curveat High CapitalPricesNumber of Workers(b) Substitution Effe

13、ct May DominateWage2-11Copyright 2006 Pearson AdOson-Wesley. All rights reserved2-14Copyright 2006 Pearson AdOson-Wesley. All rights reservedFIGURE 2.9 Market Supply Curvefor SecretariesNumber of SecretariesFIGURE 2.10 Shift in Market Supply Curve forSecretaries as Salaries of Insurance Agents RiseS

14、upply of Secretaries when Salaries ofInsurance Agents Are:Number of Secretaries2-13Copyright 2006 Pearson Addison-Wesley. All rights reserved2-16FIGURE 2.11 Supply of Secretaries to aFirm at Alternative Market WagesWages ofSecretaries0炉10Number of SecretariesCopyright 2006 Pearson Addison-Wesley. Al

15、l rights reserved50512-15FIGURE 2.12 Market Demand and SupplyNumber of WorkersCopyright 2006 Pearson AdOson-Wesley. All nghts reserved2-18FIGURE 2.13 Demand and Supply atthe ”Market” and ”Firm” LevelTotal EmploymentEmployment at Firm ACopyright 2006 Pearson AdOson-Wesley. All nghts reserved2-19Copyr

16、ight 2006 Pearson Addison-Wesley. All rights reserved.2-17FIGURE 2.14 New Labor Market Equilibriumafter Dema nd Shifts RightNumber of WorkersCopyngh( (2006 Pearson AdOson-Wesley. All rights reserved2-20FIGURE 2.15 New Labor MarketEquilibrium after Supply Shifts LeftNumber of WorkersCopyngh( (2006 Pe

17、arson AdOson-Wesley. All rights reserved2-19FIGURE 2.16 New Labor MarketEquilibrium after Supply Shifts RightNumber of WorkersCopyright 2006 Pearson AdOson-Wesley. All rights reserved2-22Number of WorkersCopyright 2006 Pearson AdOson-Wesley. All rights reservedFIGURE 2.18 Effects of a Below-Equilibr

18、ium WageFIGURE 2.17 Effects of an AboveEquilibrium WageNumber of Workers2-21Copynght2006 Pearson Addison-Wesiey. All rights reserved2-24FIGURE 2.19 Labor Supply to the Military:Different Preferences Imply Different RentsNumber of WorkersCopyright 2006 Pearson Addison-Wesley. All rights reserved.2-23TABLE 2.4 Unemployment and Long-TermUnemployment, Selected European and NorthAmerican Countries, 2003Unemployment:Overall RatePercent of Unemployed Out ofWork One YearUnem

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