In this strategy paper, The Hamilton Project explores the decline in U.S. LFPR as well as patterns by age, gender, race, and education. We then assess potential explanations and describe numerous Hamilton Project policy proposals that would raise labor force participation.
The Hamilton Project finds that changing employment and school enrollment patterns have contributed to declining labor force participation among youth, aged 16 to 24.
The Hamilton Project finds that the decline in private sector union membership is economically important for the future of labor. Unions can lift wages, reduce inequality and shape how work is organized, among other effects.
Slowdowns in the economy are inevitable. While it may be tempting to rely on Federal Reserve policy as a lone response to recessions, this would be a mistake; we know that fiscal stimulus is effective. Rather than wait for a crisis to strike before designing discretionary fiscal policy, we would be better served by preparing in advance. Enacting evidence-based automatic stabilizer proposals before the next recession will help the next recovery start faster, make job creation stronger, and restore confidence to businesses and households.
In this framing paper, Ryan Nunn, Jimmy O'Donnell, and Jay Shambaugh evaluate the potential labor market impacts of several employment support policies, with particular attention devoted to a federal job guarantee. They conclude that while a job guarantee could lift employment rates and incomes for many participants, its effects on the currently employed and those out of the labor force are very uncertain.
Immigration has wide-ranging impacts on society and culture, and its economic effects are no less substantial. This document provides a set of economic facts about the role of immigration in the U.S. economy, describing the patterns of recent immigration (levels, legal status, country of origin, and U.S. state of residence), the characteristics of immigrants (education, occupations, and employment), and the effects of immigration on the economy (economic output, wages, innovation, fiscal resources, and crime).