Unemployment in the state hit an all-time low of 2.1 percent this summer, the lowest in the nation. Though it has edged up a little since, it is still among the tightest labour markets in the US. And Connecticut is only the most extreme manifestation of the conditions that now prevail across America. Unemployment nationally is 4.1 percent, the lowest since 1970.
The performance of the US labour market in the late 1990s is as much a feature of the puzzlingly benign so-called New Economy.
For the past four years the US has enjoyed an average annual growth rate of 4 percent— up from an average of about 3 percent in the previous decade. Productivity improvements account for about two-thirds of that elevated output, as workers have increased their output per hour.
The rest has come from a rapid increase in the total number of workers, what economists call labour inputs. There has been a surge in new jobs—7m in the last three years—that has pushed the unemployment rate down into the uncharted territory of barely 4 percent.
Recent economic history suggests that, whenever unemployment has gone this low, the scramble for workers becomes so difficult that wages are rapidly bid up, and an inflationary spiral follows. But in the US in the past five years, wage growth has been muted. In the last year, total employee compensation in the private sector rose by just 3.3 percent, almost unchanged on the figure three years ago, when the unemployment rate was 5.4 percent.
"In some ways it's a bigger puzzle than the productivity puzzle," says Paul Krugman, professor of economics at the Massachusetts Institute of Technology. "How can we have such a low unemployment rate without an explosion of wages?"
A number of factors appear to have contributed.
In their search for workers to fill positions, companies have reached out to places they have not looked at in the past. As a result, more people are working than ever. The proportion of the population in employment reached a record high this year of more than 64 percent.
This expanded labour supply helps explain why companies have kept the lid on pay over the last few years. The availability of new sources of labour—women, retirees, college students among them—means companies may not have to give big pay rises to hire new workers. It also helps explain why the benefits of the New Economy are not always widely felt—more people seem to be working longer hours than ever.
But an expanded labour supply can only explain part of what has changed in the US in recent years. After all, unemployment—the proportion of the labour force out of work—has still declined, indicating that companies have drawn new workers not just from the pool of those not previously in the labour force, but also from the unemployed.
And yet still wage costs have remained muted.
One possible explanation is that companies have become more flexible in how they pay.
"At Newfield, we use a much broader variety of means to reward workers, including performance related pay, year-end bonuses, and extended contracts," says Mr. Ostop.
Why does Connecticut have the tightest labour market in the U. S. ?
时间:2023-10-03 16:17:15
-
In the book"Nature",Emerson stated that()
A . man.s relationship with nature transcends the idea of usefulness
B . nature is useful to man
C . nature is independent of man and has nothing to do with man
D . nature can only be used by ma
-
()is the largest state in area in the U.S.A.
A . Florida
B . Louisiana
C . Alaska
-
There are approximately 500 () now in operation in the United States.
A . savings banks
B . saving bank
C . saving banks
D . savings bank
-
More than()of the population in the United States lived in city areas in 1988.
A . 60%
B . 75%
C . 90%
D . 50%
-
Stations in the United States of America are grouped by states arranged in the alphabetical order of their().
A . countries
B . states
C . names
D . grou
-
30. Some states in the United States _____ people from carrying guns.
-
The intimation (暗示) of a state of suffering containing within a state of happiness is also present in the childlike recitation of question and answer in \The Lamb\.
-
The Supreme Court is the highest court in the United States. ( )
-
(9) Unemployment has become an increasing problem in the recent past.What factors contribute to an increase in unemployment and what steps can be taken to solve the problem?
-
When I grew up a little, I began to ______ the meaning of words in economics such as financial crisis and unemployment in life, that is, inferior food and thriftier life.
A.recover
B.appreciate
C.exaggerate
D.address
-
What is NOT stated in the document?
A.The terms may no longer apply after 30 days.
B.The total amount must be paid in advance.
C.The customer must get permits for the work.
D.The materials are included in the price.
-
______ in the United States
A.Three out of every four automobile owners ... also own a bicycle
B.Out of every four, three automobile owners ... also owns a bicycle
C.Three out of every four automobile owners ... owns bicycles
D.Out of every four owners of automobiles ... bicycles are also owned by three
-
In the United States, the Senate is presided over by______of the United States.
A.the president
B.the vice president
C.the speaker
D.the Secretary of State
-
What is stated in the article?
A.Richard Tucker is acquainted with photography.
B.Mr. Whitman is a novice photographer.
C.Mr. Whitman"s job is much easier due to advanced technology.
D.Mr. Whitman was an advertising agent.
-
Unemployment in this country is quite high, especially the senior workers().
A. junior
B. early
C. experienced
D. elderly
-
In the long run, there is trade-off relation between inflation rate and unemployment rate. ( )
对
错
-
Although they agreed that an increase in demand was necessary to reduce unemployment, the expansionists argued that______.
A.importance should be attached to structural measures such as education and training
B.politically conservative policies should be made in the effort to reduce unemployment
C.a tax cut would not be sufficient to help to create increased demand
D.government spending to increase demand should fund programs for lower income groups and public services
此题为多项选择题。
-
In the three months, Hong Kong's unemployment rate has ______.
A.increased slowly
B.decreased slowly
C.stayed steady
-
Some states in the United States _______ people tocarry guns.
A.apply
B.charm
C.ignore
D.forbid
-
confirm the supply of... at the prices stated in ...
-
Unemployment rates are usually higher in Europe than in the United States because:
A.theminimumwageishigherintheUnitedStatesthaninEurope
B.U.S.economicpolicyismuchmoreeffectivethanEuropeaneconomicpolicy.
C.therearemoreunskilled,uneducatedworkersinEuropethanintheUnitedStates.
D.unemploymentbenefitsaremoregenerousinEuropethanintheUnitedStates.
-
In the United State , soccer' s popularity began to grow rapidly in the late 1950&
In the United State , soccer' s popularity began to grow rapidly in the late 1950' s.()
此题为判断题(对,错)。
-
Soccer is now the()sport in the united states.
A.wide-spreading
B.fastest-growing
C.fast-apprearing
D.fast-growing
-
Wht is the current sitution of job mrket in the US Unemployment rte is still chnginWht is the current sitution of job mrket in the US Unemployment rte is still chnging. B.Job offers only rech hlf of the estimted number. C.There is no employment growth inugust. D.Therere decreses of vcncies inmericn businesses.
A.Unemployment rate is still changing.
B.Job offers only reach half of the estimated number.
C.There is no employment growth in August.
D.There are decreases of vacancies in American businesses.