Friday, March 30, 2007
Tweet[IWS] CRS: THE ECONOMICS OF CORPORATE EXECUTIVE PAY [22 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RL33935
The Economics of Corporate Executive Pay
March 22, 2007
Gary Shorter, Specialist in Business and Government Relations, Government and Finance Division
Marc Labonte, Specialist in Macroeconomics, Government and Finance Division
http://www.opencrs.com/rpts/RL33935_20070322.pdf
[full-text, 40 pages]
Summary
In the past ten years, the pay of chief executive officers (CEOs) has more than
doubled, and the ratio of median CEO to worker pay has risen to 179 to 1. High and
rising executive pay could be an issue of public concern on two different grounds.
First, it is contributing to widening income inequality that may be of concern from
an equity perspective. Second, it could be the result of economically inefficient labor
markets. It is difficult to determine whether executive pay is excessive across the
board since executives' marginal product cannot be directly observed. An upward
trend in pay over time is not sufficient proof that the market is not efficient since
factors determining supply and demand, such as the skills required of the position,
can change over time. To show that pay is excessive from an economic perspective,
one must first demonstrate that there is a market failure that is preventing the market
from functioning efficiently. The market failure could originate in the division in
large modern firms between management and ownership, which is typically dispersed
among millions of shareholders. Shareholders' interests are represented by a board
of directors. Critics of executive pay have argued that boards have all too often been
"captured" by the executive and are no longer negotiating pay packages that are in
the shareholders' best interests. They point to a number of common practices that
they call "stealth compensation" which are inconsistent with arm's length
contracting. These include "golden parachutes," generous severance packages,
company-provided perks, and bonuses that are unrelated to firm performance.
Stock options have been the fastest growing portion of executive pay since the
1990s, and critics believe this pattern can also be explained through the prism of
stealth compensation. Rewarding executives with employee stock options was often
justified in terms of the "pay for performance" mantra, but options are usually
designed to reward absolute, not relative, performance. This means that in the bull
market of the 1990s, when virtually all stock prices were rising, a company could fall
behind its competitors and its executives could still receive handsome options
payouts. Indeed, a sizeable portion of the increase in executive pay in the 1990s was
likely due to options that turned out to be much more valuable than expected because
of the unprecedented price increases of the bull market.
Many of the recent corporate scandals appear consistent with stealth
compensation as well. Stock options backdating, earnings manipulation, and
accounting fraud might have been motivated by attempts to covertly increase
executive pay. If short-term fluctuations in the stock price are not good proxies of
firm performance, then tying compensation to the stock price can create incentives
for executives to engage in activities that are detrimental to shareholders.
Policy proposals mostly focus on improving transparency, increasing board
independence, and strengthening shareholder control rather than attempting to curb
pay directly. H.R. 1257 would give shareholders a nonbinding vote on executive pay.
Another proposal would modify the limit on deductibility of executive pay from
corporate taxation. More broadly, income inequality could be reduced by increasing
the progressivity of the tax system. For current developments and legislation, see
CRS Report RS22604, Excessive CEO Pay: Background and Policy Approaches.
Contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Data on CEO Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
The Economics of Executive Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
How Executive Compensation Is Set . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Executive Pay in the Neo-Classical World . . . . . . . . . . . . . . . . . . . . . . . . . . 7
The Principal-Agent Problem and the Free-Rider Problem . . . . . . . . . . . . . . 9
The "Managerial Power" Critique of the Neo-Classical Model . . . . . . . . . 10
Board "Capture" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Stealth Compensation and Outrage Costs . . . . . . . . . . . . . . . . . . . . . . 12
Performance Based Pay: Part of the Solution or Part of the
Problem? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Criticisms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Executive Pay in the 1990s: Being in the Right Place at the Right Time? . 21
Can "Excessive Pay" Be Empirically Measured? . . . . . . . . . . . . . . . . . . . . 23
A Brief History of the Regulation of Executive Pay . . . . . . . . . . . . . . . . . . . . . . 25
The Omnibus Budget Reconciliation Act (OBRA) of 1993's Cap
on the Deductibility of Executive Compensation . . . . . . . . . . . . . . . . 26
The Sarbanes-Oxley Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Requirement that Shareholders Approve Equity-Based Compensation
Plans for NYSE and Nasdaq Listed Firms . . . . . . . . . . . . . . . . . . . . . . 27
Requirement that NYSE-Listed Companies Have Compensation
Committees Solely Composed of Outside Directors . . . . . . . . . . . . . . 27
FASB's Options Accounting Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
SEC Rules on Disclosure of Executive Pay . . . . . . . . . . . . . . . . . . . . . . . . . 28
Policy Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Maintain the Status Quo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Eliminating or Significantly Restricting OBRA . . . . . . . . . . . . . . . . . . . . . 30
A Cap on the Deductibility of Executive Pay When It Exceeds a
Certain Ratio of Non-Managerial Pay . . . . . . . . . . . . . . . . . . . . . . . . . 31
Disclosure of Corporate Services Provided by Firms Affiliated with
Compensation Consultants or a Ban on Such Services . . . . . . . . . . . . 32
Increase Shareholder Roles in the Election of Board Members . . . . . . . . . . 32
Give Shareholders a Non-binding Vote on Executive Pay . . . . . . . . . . . . . 34
Increase the Progressivity of the Tax Code . . . . . . . . . . . . . . . . . . . . . . . . . 34
Appendix. A Primer on Stock Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
List of Figures
Figure 1. Median CEO Pay at the 350 Largest Publicly-Held Companies . . . . . . 5
Figure 2. S&P 500: Actual and Projected Based on Historical Average,
1995-1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RL33935
The Economics of Corporate Executive Pay
March 22, 2007
Gary Shorter, Specialist in Business and Government Relations, Government and Finance Division
Marc Labonte, Specialist in Macroeconomics, Government and Finance Division
http://www.opencrs.com/rpts/RL33935_20070322.pdf
[full-text, 40 pages]
Summary
In the past ten years, the pay of chief executive officers (CEOs) has more than
doubled, and the ratio of median CEO to worker pay has risen to 179 to 1. High and
rising executive pay could be an issue of public concern on two different grounds.
First, it is contributing to widening income inequality that may be of concern from
an equity perspective. Second, it could be the result of economically inefficient labor
markets. It is difficult to determine whether executive pay is excessive across the
board since executives' marginal product cannot be directly observed. An upward
trend in pay over time is not sufficient proof that the market is not efficient since
factors determining supply and demand, such as the skills required of the position,
can change over time. To show that pay is excessive from an economic perspective,
one must first demonstrate that there is a market failure that is preventing the market
from functioning efficiently. The market failure could originate in the division in
large modern firms between management and ownership, which is typically dispersed
among millions of shareholders. Shareholders' interests are represented by a board
of directors. Critics of executive pay have argued that boards have all too often been
"captured" by the executive and are no longer negotiating pay packages that are in
the shareholders' best interests. They point to a number of common practices that
they call "stealth compensation" which are inconsistent with arm's length
contracting. These include "golden parachutes," generous severance packages,
company-provided perks, and bonuses that are unrelated to firm performance.
Stock options have been the fastest growing portion of executive pay since the
1990s, and critics believe this pattern can also be explained through the prism of
stealth compensation. Rewarding executives with employee stock options was often
justified in terms of the "pay for performance" mantra, but options are usually
designed to reward absolute, not relative, performance. This means that in the bull
market of the 1990s, when virtually all stock prices were rising, a company could fall
behind its competitors and its executives could still receive handsome options
payouts. Indeed, a sizeable portion of the increase in executive pay in the 1990s was
likely due to options that turned out to be much more valuable than expected because
of the unprecedented price increases of the bull market.
Many of the recent corporate scandals appear consistent with stealth
compensation as well. Stock options backdating, earnings manipulation, and
accounting fraud might have been motivated by attempts to covertly increase
executive pay. If short-term fluctuations in the stock price are not good proxies of
firm performance, then tying compensation to the stock price can create incentives
for executives to engage in activities that are detrimental to shareholders.
Policy proposals mostly focus on improving transparency, increasing board
independence, and strengthening shareholder control rather than attempting to curb
pay directly. H.R. 1257 would give shareholders a nonbinding vote on executive pay.
Another proposal would modify the limit on deductibility of executive pay from
corporate taxation. More broadly, income inequality could be reduced by increasing
the progressivity of the tax system. For current developments and legislation, see
CRS Report RS22604, Excessive CEO Pay: Background and Policy Approaches.
Contents
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Data on CEO Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
The Economics of Executive Pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
How Executive Compensation Is Set . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Executive Pay in the Neo-Classical World . . . . . . . . . . . . . . . . . . . . . . . . . . 7
The Principal-Agent Problem and the Free-Rider Problem . . . . . . . . . . . . . . 9
The "Managerial Power" Critique of the Neo-Classical Model . . . . . . . . . 10
Board "Capture" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Stealth Compensation and Outrage Costs . . . . . . . . . . . . . . . . . . . . . . 12
Performance Based Pay: Part of the Solution or Part of the
Problem? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Criticisms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Executive Pay in the 1990s: Being in the Right Place at the Right Time? . 21
Can "Excessive Pay" Be Empirically Measured? . . . . . . . . . . . . . . . . . . . . 23
A Brief History of the Regulation of Executive Pay . . . . . . . . . . . . . . . . . . . . . . 25
The Omnibus Budget Reconciliation Act (OBRA) of 1993's Cap
on the Deductibility of Executive Compensation . . . . . . . . . . . . . . . . 26
The Sarbanes-Oxley Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Requirement that Shareholders Approve Equity-Based Compensation
Plans for NYSE and Nasdaq Listed Firms . . . . . . . . . . . . . . . . . . . . . . 27
Requirement that NYSE-Listed Companies Have Compensation
Committees Solely Composed of Outside Directors . . . . . . . . . . . . . . 27
FASB's Options Accounting Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28
SEC Rules on Disclosure of Executive Pay . . . . . . . . . . . . . . . . . . . . . . . . . 28
Policy Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Maintain the Status Quo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Eliminating or Significantly Restricting OBRA . . . . . . . . . . . . . . . . . . . . . 30
A Cap on the Deductibility of Executive Pay When It Exceeds a
Certain Ratio of Non-Managerial Pay . . . . . . . . . . . . . . . . . . . . . . . . . 31
Disclosure of Corporate Services Provided by Firms Affiliated with
Compensation Consultants or a Ban on Such Services . . . . . . . . . . . . 32
Increase Shareholder Roles in the Election of Board Members . . . . . . . . . . 32
Give Shareholders a Non-binding Vote on Executive Pay . . . . . . . . . . . . . 34
Increase the Progressivity of the Tax Code . . . . . . . . . . . . . . . . . . . . . . . . . 34
Appendix. A Primer on Stock Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
List of Figures
Figure 1. Median CEO Pay at the 350 Largest Publicly-Held Companies . . . . . . 5
Figure 2. S&P 500: Actual and Projected Based on Historical Average,
1995-1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:54 PM
[IWS] CRS: LEGAL ISSUES in TERMINATIONS of SINGLE-EMPLOYER PENSION PLANS: Beck v. PACE International Union [28 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RS22635
March 28, 2007
Legal Issues in Terminations of Single-Employer Pension Plans: Beck v. PACE International Union
Jennifer Staman, Erika Lunder, Legislative Attorneys, American Law Division
http://www.opencrs.com/rpts/RS22635_20070328.pdf
[full-text, 6 pages]
Summary
On January 19, 2007, the U.S. Supreme Court granted certiorari in Beck v. PACE
International Union. The case concerns the decision by an employer in bankruptcy
proceedings to terminate its pension plans. The employer, which was both plan sponsor
and administrator, had the option of terminating the plans by buying annuities for plan
participants and beneficiaries or by merging the plans with a multiemployer plan. It
chose the annuity option. At issue in Beck is whether the employer breached the
fiduciary duty owed under the Employee Retirement Income Security Act (ERISA) to
plan participants and beneficiaries by failing to adequately consider the merger proposal.
This report discusses the Beck case and will be updated as events warrant.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Research Service (CRS)
Order Code RS22635
March 28, 2007
Legal Issues in Terminations of Single-Employer Pension Plans: Beck v. PACE International Union
Jennifer Staman, Erika Lunder, Legislative Attorneys, American Law Division
http://www.opencrs.com/rpts/RS22635_20070328.pdf
[full-text, 6 pages]
Summary
On January 19, 2007, the U.S. Supreme Court granted certiorari in Beck v. PACE
International Union. The case concerns the decision by an employer in bankruptcy
proceedings to terminate its pension plans. The employer, which was both plan sponsor
and administrator, had the option of terminating the plans by buying annuities for plan
participants and beneficiaries or by merging the plans with a multiemployer plan. It
chose the annuity option. At issue in Beck is whether the employer breached the
fiduciary duty owed under the Employee Retirement Income Security Act (ERISA) to
plan participants and beneficiaries by failing to adequately consider the merger proposal.
This report discusses the Beck case and will be updated as events warrant.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:47 PM
[IWS] BLS: OCCUPATION INDICATOR STRENGTH as SKILL PROXY [26 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
BLS Working Paper 404
The Strength of Occupation Indicators as a Proxy for Skill [26 March 2007]
Alec Levenson and Cindy Zoghi (2007)
http://www.bls.gov/ore/abstract/ec/ec070030.htm
or
http://www.bls.gov/ore/pdf/ec070030.pdf
[full-text, 39 pages]
Abstract:
Labor economists have long used occupation indicators as a proxy for unobserved skills that a worker possesses. In this paper, we consider whether inter-occupational wage differentials that are unexplained by measured human capital are indeed due to differences in often-unmeasured skill. Using the National Compensation Survey, a large, nationally- representative dataset on jobs and ten different components of requisite skill, we compare the effects on residual wage variation of including occupation indicators and including additional skills measures. We find that although skills do vary across 3-digit occupations, occupation indicators decrease wage residuals by far more than can be explained by skill differentials. This indicates that "controlling for occupation" does not equate to controlling for skill alone, but also for some other factors to a great extent.
Additionally, we find that there is considerable within occupation variation in skills, and that the amount of variation is not constant across skill levels. As a result, including occupation indicators in a wage model introduces heteroskedasticity that must be accounted for. We suggest that greater caution be applied when using and interpreting occupation indicators as controls in wage regressions.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
BLS Working Paper 404
The Strength of Occupation Indicators as a Proxy for Skill [26 March 2007]
Alec Levenson and Cindy Zoghi (2007)
http://www.bls.gov/ore/abstract/ec/ec070030.htm
or
http://www.bls.gov/ore/pdf/ec070030.pdf
[full-text, 39 pages]
Abstract:
Labor economists have long used occupation indicators as a proxy for unobserved skills that a worker possesses. In this paper, we consider whether inter-occupational wage differentials that are unexplained by measured human capital are indeed due to differences in often-unmeasured skill. Using the National Compensation Survey, a large, nationally- representative dataset on jobs and ten different components of requisite skill, we compare the effects on residual wage variation of including occupation indicators and including additional skills measures. We find that although skills do vary across 3-digit occupations, occupation indicators decrease wage residuals by far more than can be explained by skill differentials. This indicates that "controlling for occupation" does not equate to controlling for skill alone, but also for some other factors to a great extent.
Additionally, we find that there is considerable within occupation variation in skills, and that the amount of variation is not constant across skill levels. As a result, including occupation indicators in a wage model introduces heteroskedasticity that must be accounted for. We suggest that greater caution be applied when using and interpreting occupation indicators as controls in wage regressions.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:40 PM
[IWS] BLS: ESTABLISHMENT WAGE DIFFERENTIALS (Working Paper) [26 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
BLS Working Paper 403
Establishment Wage Differentials [26 March 2007]
Julia I. Lane, Laurie A. Salmon, and James R. Spletzer (2007)
http://www.bls.gov/ore/abstract/ec/ec070020.htm
or
http://www.bls.gov/ore/pdf/ec070020.pdf
[full-text, 37 pages]
Abstract:
Economists have long known that individual wages depend on a combination of employee and employer characteristics, as well as the interaction of the two. Although it is important to understand how employee and employer characteristics are related to wages, little is known about the magnitude and relation of these wage effects. This is primarily due to the lack of microdata which links individuals to the establishments where they work, but also due to technical difficulties associated with separating out employee and employer effects. This paper uses data from the Occupational Employment Statistics program at the Bureau of Labor Statistics that permit both of these issues to be addressed. Our results show that employer effects contribute substantially to earnings differences across individuals. We also find that establishments that pay well for one occupation also pay well for others. This paper contributes to the growing literature that analyzes firms' compensation policies, and specifically the topic of employer effects on wages.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
BLS Working Paper 403
Establishment Wage Differentials [26 March 2007]
Julia I. Lane, Laurie A. Salmon, and James R. Spletzer (2007)
http://www.bls.gov/ore/abstract/ec/ec070020.htm
or
http://www.bls.gov/ore/pdf/ec070020.pdf
[full-text, 37 pages]
Abstract:
Economists have long known that individual wages depend on a combination of employee and employer characteristics, as well as the interaction of the two. Although it is important to understand how employee and employer characteristics are related to wages, little is known about the magnitude and relation of these wage effects. This is primarily due to the lack of microdata which links individuals to the establishments where they work, but also due to technical difficulties associated with separating out employee and employer effects. This paper uses data from the Occupational Employment Statistics program at the Bureau of Labor Statistics that permit both of these issues to be addressed. Our results show that employer effects contribute substantially to earnings differences across individuals. We also find that establishments that pay well for one occupation also pay well for others. This paper contributes to the growing literature that analyzes firms' compensation policies, and specifically the topic of employer effects on wages.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:31 PM
[IWS] BLS: PRETAX BENEFITS: ACCESS TO SEC. 125 CAFETERIA BENEFITS & HEALTH SAVINGS ACCOUNTS in the U.S., Private Industry [28 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Compensation and Working Conditions Online [28 March 2007]
http://www.bls.gov/opub/cwc/home.htm
Pretax Benefits: Access to Section 125 Cafeteria Benefits and Health Savings Accounts in the United States, Private Industry [28 March 2007]
http://www.bls.gov/opub/cwc/cm20070321ar01p1.htm
[excerpt]
In an effort to attract and retain employees, employers provide compensation packages that include wages and benefits. Benefits that are paid for by the employer generally are not taxable to the employee. If benefits, such as group life insurance, are paid for by the employee, generally the money used to pay for the benefits is taxable. In recent years, tax laws have been created that permit certain benefits--such as defined contribution (401(k)) retirement benefits, < http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=browse_usc&docid=Cite:+26USC125 > section 125 cafeteria benefits, and < http://www.bls.gov/opub/cwc/cm20061127ar01p1.htm> health savings accounts--to be paid for with pretax money. Pretax benefits enable both employers and employees to set aside money on a tax-free, salary-reduction basis for retirement expenses as well as for qualified dependent care and healthcare expenses. As employers seek to keep the costs of employee benefits under control, and employees seek to maximize their take-home pay, pretax benefits have become more prevalent.
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Compensation and Working Conditions Online [28 March 2007]
http://www.bls.gov/opub/cwc/home.htm
Pretax Benefits: Access to Section 125 Cafeteria Benefits and Health Savings Accounts in the United States, Private Industry [28 March 2007]
http://www.bls.gov/opub/cwc/cm20070321ar01p1.htm
[excerpt]
In an effort to attract and retain employees, employers provide compensation packages that include wages and benefits. Benefits that are paid for by the employer generally are not taxable to the employee. If benefits, such as group life insurance, are paid for by the employee, generally the money used to pay for the benefits is taxable. In recent years, tax laws have been created that permit certain benefits--such as defined contribution (401(k)) retirement benefits, < http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=browse_usc&docid=Cite:+26USC125 > section 125 cafeteria benefits, and < http://www.bls.gov/opub/cwc/cm20061127ar01p1.htm> health savings accounts--to be paid for with pretax money. Pretax benefits enable both employers and employees to set aside money on a tax-free, salary-reduction basis for retirement expenses as well as for qualified dependent care and healthcare expenses. As employers seek to keep the costs of employee benefits under control, and employees seek to maximize their take-home pay, pretax benefits have become more prevalent.
AND MUCH MORE.....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:26 PM
[IWS] BLS: REGIONAL AND STATE EMPLOYMENT AND UNEMPLOYMENT: FEBRUARY 2007 [30 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
REGIONAL AND STATE EMPLOYMENT AND UNEMPLOYMENT: FEBRUARY 2007 [30 March 2007]
http://www.bls.gov/news.release/laus.nr0.htm
or
http://www.bls.gov/news.release/pdf/laus.pdf
[full-text, 19 pages]
Regional and state unemployment rates were generally little changed in
February. Overall, 24 states and the District of Columbia registered over-
the-month unemployment rate decreases, 16 states recorded increases, and 10
states had no change, the Bureau of Labor Statistics of the U.S. Department
of Labor reported today. Over the year, jobless rates declined in 33 states
and the District of Columbia, rose in 10 states, and were unchanged in 7
states. The national unemployment rate was essentially unchanged in February
at 4.5 percent, but was down from 4.8 percent a year earlier.
Nonfarm payroll employment increased in 39 states and the District of
Columbia over the month and decreased in 11 states. The largest employment
gains occurred in California (+27,600), Texas (+14,300), Arizona (+12,200),
Florida (+10,400), Michigan (+9,300), and Nevada (+8,000). Wyoming experienced
the largest percentage increase in employment (+0.7 percent), followed by
Nevada (+0.6 percent), Alaska, Arizona, and Utah (+0.5 percent each), and
Nebraska and Oregon (+0.4 percent each). The largest employment decreases
were reported in Ohio (-9,700), Indiana (-7,400), New Jersey (-6,200),
Tennessee (-4,000), Wisconsin (-2,500), and Oklahoma (-1,800). The largest
over-the-month percentage losses in employment occurred in Indiana, Maine,
New Jersey, Ohio, and Vermont (-0.2 percent each), and Oklahoma, South
Carolina, Tennessee, and Wisconsin (-0.1 percent each). Over the year, non-
farm employment increased in 47 states and the District of Columbia and de-
creased in 3 states (Indiana, Michigan, and Ohio). The largest over-the-year
percentage gains in employment were reported in Utah (+4.3 percent), Arizona
and Louisiana (+4.1 percent each), Wyoming (+4.0 percent), Idaho (+3.5 per-
cent), and Nevada (+3.2 percent).
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
REGIONAL AND STATE EMPLOYMENT AND UNEMPLOYMENT: FEBRUARY 2007 [30 March 2007]
http://www.bls.gov/news.release/laus.nr0.htm
or
http://www.bls.gov/news.release/pdf/laus.pdf
[full-text, 19 pages]
Regional and state unemployment rates were generally little changed in
February. Overall, 24 states and the District of Columbia registered over-
the-month unemployment rate decreases, 16 states recorded increases, and 10
states had no change, the Bureau of Labor Statistics of the U.S. Department
of Labor reported today. Over the year, jobless rates declined in 33 states
and the District of Columbia, rose in 10 states, and were unchanged in 7
states. The national unemployment rate was essentially unchanged in February
at 4.5 percent, but was down from 4.8 percent a year earlier.
Nonfarm payroll employment increased in 39 states and the District of
Columbia over the month and decreased in 11 states. The largest employment
gains occurred in California (+27,600), Texas (+14,300), Arizona (+12,200),
Florida (+10,400), Michigan (+9,300), and Nevada (+8,000). Wyoming experienced
the largest percentage increase in employment (+0.7 percent), followed by
Nevada (+0.6 percent), Alaska, Arizona, and Utah (+0.5 percent each), and
Nebraska and Oregon (+0.4 percent each). The largest employment decreases
were reported in Ohio (-9,700), Indiana (-7,400), New Jersey (-6,200),
Tennessee (-4,000), Wisconsin (-2,500), and Oklahoma (-1,800). The largest
over-the-month percentage losses in employment occurred in Indiana, Maine,
New Jersey, Ohio, and Vermont (-0.2 percent each), and Oklahoma, South
Carolina, Tennessee, and Wisconsin (-0.1 percent each). Over the year, non-
farm employment increased in 47 states and the District of Columbia and de-
creased in 3 states (Indiana, Michigan, and Ohio). The largest over-the-year
percentage gains in employment were reported in Utah (+4.3 percent), Arizona
and Louisiana (+4.1 percent each), Wyoming (+4.0 percent), Idaho (+3.5 per-
cent), and Nevada (+3.2 percent).
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:21 PM
[IWS] BLS: EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
http://www.bls.gov/news.release/ecec.nr0.htm
or
http://www.bls.gov/news.release/pdf/ecec.pdf
[full-text, 28 pages]
Employer costs for employee compensation averaged $27.54 per hour worked in December 2006, the
U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged
$19.24 per hour, accounted for 69.9 percent of these costs, while benefits, which averaged $8.30 per hour,
accounted for the remaining 30.1 percent. (See table 1.) Employer Costs for Employee Compensation, a
product of the National Compensation Survey, measures employer costs for wages, salaries, and employee
benefits for nonfarm private and state and local government workers.
Employer costs for insurance benefits life, health, and disability averaged $2.26 per hour (8.2 percent
of total compensation). Legally required benefits, including Social Security, Medicare, unemployment
insurance, and workers' compensation, averaged $2.20 per hour (8.0 percent of total compensation); paid leave
benefits (vacations, holidays, sick leave, and other leave) averaged $1.94 (7.0 percent); and retirement and
savings benefits averaged $1.21 (4.4 percent) per hour worked.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
EMPLOYER COSTS FOR EMPLOYEE COMPENSATION-DECEMBER 2006 [29 March 2007]
http://www.bls.gov/news.release/ecec.nr0.htm
or
http://www.bls.gov/news.release/pdf/ecec.pdf
[full-text, 28 pages]
Employer costs for employee compensation averaged $27.54 per hour worked in December 2006, the
U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged
$19.24 per hour, accounted for 69.9 percent of these costs, while benefits, which averaged $8.30 per hour,
accounted for the remaining 30.1 percent. (See table 1.) Employer Costs for Employee Compensation, a
product of the National Compensation Survey, measures employer costs for wages, salaries, and employee
benefits for nonfarm private and state and local government workers.
Employer costs for insurance benefits life, health, and disability averaged $2.26 per hour (8.2 percent
of total compensation). Legally required benefits, including Social Security, Medicare, unemployment
insurance, and workers' compensation, averaged $2.20 per hour (8.0 percent of total compensation); paid leave
benefits (vacations, holidays, sick leave, and other leave) averaged $1.94 (7.0 percent); and retirement and
savings benefits averaged $1.21 (4.4 percent) per hour worked.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 4:15 PM
Tuesday, March 27, 2007
Tweet[IWS] BLS: America's Youth at 19: School Enrollment, Training, and Employment Transitions between Ages 18 and 19 Summary [27 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
America's Youth at 19: School Enrollment, Training, and Employment Transitions between Ages 18 and 19 Summary [27 March 2007]
http://www.bls.gov/news.release/nlsyth.nr0.htm
or
http://www.bls.gov/news.release/pdf/nlsyth.pdf
[full-text, 11 pages]
[excerpt]
Nineteen-year-old men were more likely to have dropped out of high school
and less likely to be enrolled in college than 19-year-old women, the Bureau
of Labor Statistics of the U.S. Department of Labor reported today. Women
who were high school graduates and not enrolled in college during the Octo-
ber when they were age 18 were more likely than their male counterparts to
be attending college the following October. Moreover, women enrolled in
college during October when they were age 18 were less likely than men to
have dropped out by the following October.
These findings are from the first eight annual rounds of the National
Longitudinal Survey of Youth 1997, which is a nationally representative
survey of about 9,000 young men and women who were born during the years
1980 to 1984. These respondents were ages 12 to 17 when first interviewed
in 1997, and ages 19 to 25 when interviewed for the eighth time in 2004-05.
The survey provides information on the employment experiences, schooling,
family background, social behavior, and other characteristics of these youths.
This release focuses on the school enrollment and employment experiences
of these youths from the October when they were age 18 to the October when
they were age 19. Respondents were age 18 in October during the years 1998
to 2003 and age 19 in October from 1999 to 2004. Highlights from the longi-
tudinal survey include:
--By the October when they were age 19, 76 percent of men had graduated
from high school, compared with 83 percent of women.
--Among those who had dropped out of high school by the October when they
were age 18, 11 percent had graduated from high school or earned a Gen-
eral Educational Development (GED) credential by the following October.
Another 5 percent still had not graduated from high school but were en-
rolled in a training or apprenticeship program, and 2 percent were reen-
rolled in high school.
--Nine percent of male high school graduates who had never enrolled in col-
lege were in the Armed Forces during the October when they were age 19,
as were 7 percent of 19-year-old men who had attended college but were no
longer enrolled.
--Forty-one percent of high school dropouts and 22 percent of high school
graduates not enrolled in college were neither employed nor in training
during the October when they were age 19.
--Nearly half of non-Hispanic black high school dropouts were not employed
in either the October when they were age 18 or the October when they were
age 19, compared with 22 percent of non-Hispanic whites and 30 percent of
Hispanics.
--High school graduates not enrolled in college were employed 75 percent of
the weeks between the October when they were age 18 and the following Oc-
tober. By comparison, youths who had dropped out of high school by the
October when they were age 18 were employed 55 percent of those weeks.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
America's Youth at 19: School Enrollment, Training, and Employment Transitions between Ages 18 and 19 Summary [27 March 2007]
http://www.bls.gov/news.release/nlsyth.nr0.htm
or
http://www.bls.gov/news.release/pdf/nlsyth.pdf
[full-text, 11 pages]
[excerpt]
Nineteen-year-old men were more likely to have dropped out of high school
and less likely to be enrolled in college than 19-year-old women, the Bureau
of Labor Statistics of the U.S. Department of Labor reported today. Women
who were high school graduates and not enrolled in college during the Octo-
ber when they were age 18 were more likely than their male counterparts to
be attending college the following October. Moreover, women enrolled in
college during October when they were age 18 were less likely than men to
have dropped out by the following October.
These findings are from the first eight annual rounds of the National
Longitudinal Survey of Youth 1997, which is a nationally representative
survey of about 9,000 young men and women who were born during the years
1980 to 1984. These respondents were ages 12 to 17 when first interviewed
in 1997, and ages 19 to 25 when interviewed for the eighth time in 2004-05.
The survey provides information on the employment experiences, schooling,
family background, social behavior, and other characteristics of these youths.
This release focuses on the school enrollment and employment experiences
of these youths from the October when they were age 18 to the October when
they were age 19. Respondents were age 18 in October during the years 1998
to 2003 and age 19 in October from 1999 to 2004. Highlights from the longi-
tudinal survey include:
--By the October when they were age 19, 76 percent of men had graduated
from high school, compared with 83 percent of women.
--Among those who had dropped out of high school by the October when they
were age 18, 11 percent had graduated from high school or earned a Gen-
eral Educational Development (GED) credential by the following October.
Another 5 percent still had not graduated from high school but were en-
rolled in a training or apprenticeship program, and 2 percent were reen-
rolled in high school.
--Nine percent of male high school graduates who had never enrolled in col-
lege were in the Armed Forces during the October when they were age 19,
as were 7 percent of 19-year-old men who had attended college but were no
longer enrolled.
--Forty-one percent of high school dropouts and 22 percent of high school
graduates not enrolled in college were neither employed nor in training
during the October when they were age 19.
--Nearly half of non-Hispanic black high school dropouts were not employed
in either the October when they were age 18 or the October when they were
age 19, compared with 22 percent of non-Hispanic whites and 30 percent of
Hispanics.
--High school graduates not enrolled in college were employed 75 percent of
the weeks between the October when they were age 18 and the following Oc-
tober. By comparison, youths who had dropped out of high school by the
October when they were age 18 were employed 55 percent of those weeks.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 3:30 PM
[IWS] USITC: ECONOMIC EFFECTS of SIGNIFICANT U.S. IMPORT RESTRAINTS, Fifth Update 2007 [online 20 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
U.S. International Trade Commission (USITC)
Investigation No. 332-325, Publication 3906
February 2007
The Economic Effects of Significant U.S. Import Restraints, Fifth Update 2007 [online 20 March 2007]
http://hotdocs.usitc.gov/docs/pubs/332/pub3906.pdf
[full-text, 236 pages]
Summary:
The U.S. International Trade Commission's latest update in this series of reports presents results on the economic effects on the U.S. economy of removing significant U.S. import restraints in manufacturing, agricultural products, and services. The report estimates changes in U.S. welfare, output, employment, and trade that could result from the elimination of U.S. tariff-rate quotas on agricultural products, quantitative restrictions applied to textiles and apparel, and duties for sectors with high tariffs. The study also examines the economic implications of restrictions affecting maritime trade and trucking, and it analyzes the implications of liberalization for U.S. workers. The base year for the study is 2005, the year for which the most recent data are available on the structure of the U.S. economy.
The report is the fifth update in a series of reports to the U.S. Trade Representative. The initial report was submitted in November 1993, the first update was submitted in December 1995, the second update in May 1999, the third update in June 2002, and the fourth update in June 2004.
See Chapter 7
7 Labor Market Transitions . . . . . . . . . . . . . . . . . . 113
Transition Experiences of Displaced Workers . . . . . . . . . 113
Estimated Effects of Simultaneous Liberalization of Import
Restraints on Displaced Workers . . . . . . . . . 114
Reason for and Location of Job Loss . . . . . . . . . . . 115
Personal and Employment Characteristics . . . . . . . . 117
Review of Literature . . . . . . . . . . . . . . . . . . . . . . 121
Skill Premium . . . . . . . . . . . . . . . . . . . . . . . 123
Other Studies . . . . . . . . . . . . . . . . . . . . . . . 126
and TABLES
7-1 Reason for displacement and location of import restraints displaced workers and all workers, 20015, percent a . . 116
7-2 Attributes of all displaced workers and import restraints displaced workers . . . . . . . . . . . . . . . . . . . . . 118
7-3 Job characteristics and unemployment experience . . . . 119
7-4 Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . 120
7-5 Current labor force status at survey time, percent . . . . 121
7-6 Sectors absorbing displaced workers, percent . . . . . . 122
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
U.S. International Trade Commission (USITC)
Investigation No. 332-325, Publication 3906
February 2007
The Economic Effects of Significant U.S. Import Restraints, Fifth Update 2007 [online 20 March 2007]
http://hotdocs.usitc.gov/docs/pubs/332/pub3906.pdf
[full-text, 236 pages]
Summary:
The U.S. International Trade Commission's latest update in this series of reports presents results on the economic effects on the U.S. economy of removing significant U.S. import restraints in manufacturing, agricultural products, and services. The report estimates changes in U.S. welfare, output, employment, and trade that could result from the elimination of U.S. tariff-rate quotas on agricultural products, quantitative restrictions applied to textiles and apparel, and duties for sectors with high tariffs. The study also examines the economic implications of restrictions affecting maritime trade and trucking, and it analyzes the implications of liberalization for U.S. workers. The base year for the study is 2005, the year for which the most recent data are available on the structure of the U.S. economy.
The report is the fifth update in a series of reports to the U.S. Trade Representative. The initial report was submitted in November 1993, the first update was submitted in December 1995, the second update in May 1999, the third update in June 2002, and the fourth update in June 2004.
See Chapter 7
7 Labor Market Transitions . . . . . . . . . . . . . . . . . . 113
Transition Experiences of Displaced Workers . . . . . . . . . 113
Estimated Effects of Simultaneous Liberalization of Import
Restraints on Displaced Workers . . . . . . . . . 114
Reason for and Location of Job Loss . . . . . . . . . . . 115
Personal and Employment Characteristics . . . . . . . . 117
Review of Literature . . . . . . . . . . . . . . . . . . . . . . 121
Skill Premium . . . . . . . . . . . . . . . . . . . . . . . 123
Other Studies . . . . . . . . . . . . . . . . . . . . . . . 126
and TABLES
7-1 Reason for displacement and location of import restraints displaced workers and all workers, 20015, percent a . . 116
7-2 Attributes of all displaced workers and import restraints displaced workers . . . . . . . . . . . . . . . . . . . . . 118
7-3 Job characteristics and unemployment experience . . . . 119
7-4 Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . 120
7-5 Current labor force status at survey time, percent . . . . 121
7-6 Sectors absorbing displaced workers, percent . . . . . . 122
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 2:14 PM
[IWS] Census: FAMILIES and LIVING ARRANGEMENTS 2006 [27 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Census
FAMILIES and LIVING ARRANGEMENTS 2006 [27 March 2007]
http://www.census.gov/population/www/socdemo/hh-fam.html
or
DETAILED TABLES
http://www.census.gov/population/www/socdemo/hh-fam/cps2006.html
PHOTOS
http://www.census.gov/pubinfo/www/broadcast/photos/people_places/004309.html
Press Release
CB07-46
Single-Parent Households Showed Little Variation Since 1994, Census Bureau Reports [27 March 2007]
http://www.census.gov/Press-Release/www/releases/archives/families_households/009842.html
The percentage of households headed by single parents showed little variation from 1994 through 2006, at about 9 percent, up from 5 percent in 1970, according to the latest data on America's families and households released today by the U.S. Census Bureau.
According to < http://www.census.gov/population/www/socdemo/hh-fam.html> Families and Living Arrangements: 2006, there were 12.9 million one-parent families in 2006 10.4 million single-mother families and 2.5 million single-father families.
Just over two-thirds (67 percent) of the nation's 73.7 million children younger than 18 lived with two married parents in 2006. Also in 2006, there were an estimated 5.8 million stay-at-home parents: 5.6 million mothers and 159,000 fathers.
Other highlights:
* Average household size in 2006 was 2.57 people, down from 3.14 in 1970.
* Slightly more than one in four households (26 percent) consisted of a person living alone in 2006, up from 17 percent in 1970.
* About 5.7 million children, or 8 percent of the total, lived in a household that included a grandparent in 2006. The majority of these children (3.7 million) lived in the grandparent's home, and of these, about 60 percent had a parent present.
* Among the 13 million children 15 to 17, about 2.3 million were working, and of these, 2.2 million worked part time.
* In 2006, 33 percent of males and 26 percent of females 15 and older had never married, up from 28 and 22 percent in 1970.
* The majority of men and women in 2006 had been married by the time they were 30 to 34 (71 percent), and among men and women 65 and older, 96 percent had been married.
Data are from the 2006 Current Population Survey's (CPS) Annual Social and Economic Supplement (ASEC), conducted in February, March and April at about 100,000 addresses nationwide.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Census
FAMILIES and LIVING ARRANGEMENTS 2006 [27 March 2007]
http://www.census.gov/population/www/socdemo/hh-fam.html
or
DETAILED TABLES
http://www.census.gov/population/www/socdemo/hh-fam/cps2006.html
PHOTOS
http://www.census.gov/pubinfo/www/broadcast/photos/people_places/004309.html
Press Release
CB07-46
Single-Parent Households Showed Little Variation Since 1994, Census Bureau Reports [27 March 2007]
http://www.census.gov/Press-Release/www/releases/archives/families_households/009842.html
The percentage of households headed by single parents showed little variation from 1994 through 2006, at about 9 percent, up from 5 percent in 1970, according to the latest data on America's families and households released today by the U.S. Census Bureau.
According to < http://www.census.gov/population/www/socdemo/hh-fam.html> Families and Living Arrangements: 2006, there were 12.9 million one-parent families in 2006 10.4 million single-mother families and 2.5 million single-father families.
Just over two-thirds (67 percent) of the nation's 73.7 million children younger than 18 lived with two married parents in 2006. Also in 2006, there were an estimated 5.8 million stay-at-home parents: 5.6 million mothers and 159,000 fathers.
Other highlights:
* Average household size in 2006 was 2.57 people, down from 3.14 in 1970.
* Slightly more than one in four households (26 percent) consisted of a person living alone in 2006, up from 17 percent in 1970.
* About 5.7 million children, or 8 percent of the total, lived in a household that included a grandparent in 2006. The majority of these children (3.7 million) lived in the grandparent's home, and of these, about 60 percent had a parent present.
* Among the 13 million children 15 to 17, about 2.3 million were working, and of these, 2.2 million worked part time.
* In 2006, 33 percent of males and 26 percent of females 15 and older had never married, up from 28 and 22 percent in 1970.
* The majority of men and women in 2006 had been married by the time they were 30 to 34 (71 percent), and among men and women 65 and older, 96 percent had been married.
Data are from the 2006 Current Population Survey's (CPS) Annual Social and Economic Supplement (ASEC), conducted in February, March and April at about 100,000 addresses nationwide.
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 11:07 AM
[IWS] BEA: STATE PERSONAL INCOME 2006 [27 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Bureau of Economic Analysis (BEA)
State Personal Income 2006 [27 March 2007]
http://www.bea.gov/newsreleases/regional/spi/spi_newsrelease.htm
or
http://www.bea.gov/newsreleases/regional/spi/2007/pdf/spi0307.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/regional/spi/2007/xls/spi0307.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/regional/spi/2007/pdf/spi0307pc_fax.pdf
U.S. personal income grew 6.3 percent in 2006, up from 5.2 percent in 2005, according to preliminary estimates released today by the U.S. Bureau of Economic Analysis. This is the strongest annual growth rate so far in the economic expansion which began in December 2001. All eight BEA regions registered solid accelerations in personal income growth. For the third consecutive year, the Southwest region enjoyed the fastest growth (8.3 percent up from 7.7 percent) and the Great Lakes region saw the slowest growth (4.8 percent up from 4.0 percent). The contrast between the two regions reflects a mining boom in the Southwest and employment losses in auto manufacturing in the Great Lakes.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Bureau of Economic Analysis (BEA)
State Personal Income 2006 [27 March 2007]
http://www.bea.gov/newsreleases/regional/spi/spi_newsrelease.htm
or
http://www.bea.gov/newsreleases/regional/spi/2007/pdf/spi0307.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/regional/spi/2007/xls/spi0307.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/regional/spi/2007/pdf/spi0307pc_fax.pdf
U.S. personal income grew 6.3 percent in 2006, up from 5.2 percent in 2005, according to preliminary estimates released today by the U.S. Bureau of Economic Analysis. This is the strongest annual growth rate so far in the economic expansion which began in December 2001. All eight BEA regions registered solid accelerations in personal income growth. For the third consecutive year, the Southwest region enjoyed the fastest growth (8.3 percent up from 7.7 percent) and the Great Lakes region saw the slowest growth (4.8 percent up from 4.0 percent). The contrast between the two regions reflects a mining boom in the Southwest and employment losses in auto manufacturing in the Great Lakes.
AND MUCH MORE...including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 10:59 AM
[IWS] CBO: LABOR PRODUCTIVITY: DEVELOPMENTS SINCE 1995 [26 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Budget Office (CBO)
A CBO Paper
Labor Productivity: Developments Since 1995 [26 March 2007]
http://www.cbo.gov/showdoc.cfm?index=7910&sequence=0&from=7
or
http://www.cbo.gov/ftpdocs/79xx/doc7910/03-26-Labor.pdf
[full-text, 20 pages]
[excerpt]
The paper also explores the reasons for the productivity acceleration and concludes that it
likely stemmed from developments in the information technology (IT) sector, including faster
technological change in the production of IT goods and the boom in business investment in
those goods. Although widely accepted, that explanation raises two questions: Why did productivity
growth accelerate further during a periodthe years since the 2001 business-cycle
peakwhen IT investment fell substantially? And why did European economies fail to experience
a similar productivity surge even though they had access to the same IT goods that
were available in the United States? The paper outlines several possible answers to those questions
but concludes that further research will be necessary before economists can provide a
consensus answer.
Contents
Labor Productivity Growth Since 1995 2
New Cyclical Pattern 4
Shifting Sources of Growth 4
Explaining the Post-1995 Productivity Acceleration 6
Explaining the Post-2001 Productivity Acceleration 8
Explaining the Lag in European Productivity Growth 11
CBO's Projections 12
Tables
1. Changes in Estimates of the Average Annual Growth Rate for Labor Productivity 3
2. Contributions of Capital Deepening and Total Factor Productivity to Labor Productivity Growth, 1990 to 2005 5
Figures
1. Labor Productivity and Trend Growth, 1950 to 2006 2
2. Growth in Labor Productivity, 1950 to 2006 4
3. Total Factor Productivity and Trend Growth, 1980 to 2006 6
4. Investment in Producers' Durable Equipment, 1960 to 2006 7
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Congressional Budget Office (CBO)
A CBO Paper
Labor Productivity: Developments Since 1995 [26 March 2007]
http://www.cbo.gov/showdoc.cfm?index=7910&sequence=0&from=7
or
http://www.cbo.gov/ftpdocs/79xx/doc7910/03-26-Labor.pdf
[full-text, 20 pages]
[excerpt]
The paper also explores the reasons for the productivity acceleration and concludes that it
likely stemmed from developments in the information technology (IT) sector, including faster
technological change in the production of IT goods and the boom in business investment in
those goods. Although widely accepted, that explanation raises two questions: Why did productivity
growth accelerate further during a periodthe years since the 2001 business-cycle
peakwhen IT investment fell substantially? And why did European economies fail to experience
a similar productivity surge even though they had access to the same IT goods that
were available in the United States? The paper outlines several possible answers to those questions
but concludes that further research will be necessary before economists can provide a
consensus answer.
Contents
Labor Productivity Growth Since 1995 2
New Cyclical Pattern 4
Shifting Sources of Growth 4
Explaining the Post-1995 Productivity Acceleration 6
Explaining the Post-2001 Productivity Acceleration 8
Explaining the Lag in European Productivity Growth 11
CBO's Projections 12
Tables
1. Changes in Estimates of the Average Annual Growth Rate for Labor Productivity 3
2. Contributions of Capital Deepening and Total Factor Productivity to Labor Productivity Growth, 1990 to 2005 5
Figures
1. Labor Productivity and Trend Growth, 1950 to 2006 2
2. Growth in Labor Productivity, 1950 to 2006 4
3. Total Factor Productivity and Trend Growth, 1980 to 2006 6
4. Investment in Producers' Durable Equipment, 1960 to 2006 7
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 8:06 AM
Monday, March 26, 2007
Tweet[IWS] BLS: Harmonized index of consumer prices for selected countries and areas, percent change from same period of previous year, 2003-2007 [9 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Harmonized index of consumer prices for selected countries and areas, percent change from same period of previous year, 2003-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flshicp.txt
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Harmonized index of consumer prices for selected countries and areas, percent change from same period of previous year, 2003-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flshicp.txt
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 2:55 PM
[IWS] BLS: Unemployment rates in the European Union 1995-2007 [9 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Unemployment rates in the European Union and selected member countries,civilian labor force basis (1), seasonally adjusted, 1995-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flseur.txt
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Unemployment rates in the European Union and selected member countries,civilian labor force basis (1), seasonally adjusted, 1995-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flseur.txt
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 2:52 PM
[IWS] BLS: Unemployment rates in nine countries, civilian labor force basis, approximating U.S. concepts, seasonally adjusted, 1995-2007 [9 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Unemployment rates in nine countries, civilian labor force basis, approximating U.S. concepts, seasonally adjusted, 1995-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flsjec.txt
United States
Canada
Australia
Japan
France
Germany
Italy
Sweden
United Kingdom
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Unemployment rates in nine countries, civilian labor force basis, approximating U.S. concepts, seasonally adjusted, 1995-2007 [9 March 2007]
ftp://ftp.bls.gov/pub/special.requests/ForeignLabor/flsjec.txt
United States
Canada
Australia
Japan
France
Germany
Italy
Sweden
United Kingdom
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 2:47 PM
[IWS] BLS: Comparative Civilian Labor Force Statistics, Ten Countries, 1960-2006 [20 March 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Comparative Civilian Labor Force Statistics, Ten Countries, 1960-2006 [20 March 2007]
http://www.bls.gov/fls/flscomparelf.htm
or
http://www.bls.gov/fls/lfcompendium.pdf
[full-text, 37 pages]
also available as a zipped excel file at first URL above
United States
Canada
Australia
Japan
France
Germany
Italy
Netherlands
Sweden
United Kingdom
CONTENTS
Page
Contents........................................................................................................................................................................................1
General Notes...............................................................................................................................................................................2
Country Notes...............................................................................................................................................................................4
Tables
1. Civilian Working Age Population Approximating U.S. Concepts, 1960-2006............................................................................8
2. Civilian Labor Force, Employment, and Unemployment Approximating U.S. Concepts, 1960-2006........................................9
3. Civilian Labor Force, Employment, and Unemployment Published by Originating Country, 1960-2006.................................13
4. Civilian Labor Force Participation Rates Approximating U.S. Concepts by Sex, 1960-2006..................................................18
5. Civilian Employment-Population Ratios Approximating U.S. Concepts by Sex, 1960-2006....................................................21
6. Civilian Employment Approximating U.S. Concepts by Economic Sector, 1960-2006............................................................24
7. Percent Distribution of Civilian Employment Approximating U.S. Concepts by Economic Sector, 1960-2006.......................29
8. Civilian Unemployment Rates Approximating U.S. Concepts by Sex, 1960-2006..................................................................33
9. Civilian Unemployment Rates Approximating U.S. Concepts by Age, 2002-2006..................................................................35
10. Percent of Women in the Civilian Labor Force, 1960-2006 ...... .36
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
Tweet
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Comparative Civilian Labor Force Statistics, Ten Countries, 1960-2006 [20 March 2007]
http://www.bls.gov/fls/flscomparelf.htm
or
http://www.bls.gov/fls/lfcompendium.pdf
[full-text, 37 pages]
also available as a zipped excel file at first URL above
United States
Canada
Australia
Japan
France
Germany
Italy
Netherlands
Sweden
United Kingdom
CONTENTS
Page
Contents........................................................................................................................................................................................1
General Notes...............................................................................................................................................................................2
Country Notes...............................................................................................................................................................................4
Tables
1. Civilian Working Age Population Approximating U.S. Concepts, 1960-2006............................................................................8
2. Civilian Labor Force, Employment, and Unemployment Approximating U.S. Concepts, 1960-2006........................................9
3. Civilian Labor Force, Employment, and Unemployment Published by Originating Country, 1960-2006.................................13
4. Civilian Labor Force Participation Rates Approximating U.S. Concepts by Sex, 1960-2006..................................................18
5. Civilian Employment-Population Ratios Approximating U.S. Concepts by Sex, 1960-2006....................................................21
6. Civilian Employment Approximating U.S. Concepts by Economic Sector, 1960-2006............................................................24
7. Percent Distribution of Civilian Employment Approximating U.S. Concepts by Economic Sector, 1960-2006.......................29
8. Civilian Unemployment Rates Approximating U.S. Concepts by Sex, 1960-2006..................................................................33
9. Civilian Unemployment Rates Approximating U.S. Concepts by Age, 2002-2006..................................................................35
10. Percent of Women in the Civilian Labor Force, 1960-2006 ...... .36
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
****************************************
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
**************************************** # posted by SBasefsky : 2:41 PM
[IWS] Kauffman: 2007 STATE NEW ECONOMY INDEX (State Benchmarking for Economic Transformation) [27 February 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Information Technology & Innovation Foundation (ITIF)
Ewing Marion Kauffman Foundation
THE 2007 STATE NEW ECONOMY INDEX [27 February 2007]
Benchmarking Economic Transformation in the States
http://www.itif.org/files/2007_State_New_Economy_Index_Small.pdf
[full-text, 92 pages] -- low resolution 1mb
Press Release 27 February 2007
http://www.itif.org/files/2007SNEIRelease.pdf
[exerpt]
The Index is a state-by-state analysis of how state economies are transforming from an
old industrial economic model based on "smokestack chasing" in which economic
development success is measured by the number of big company relocations rather
than in the creation and retention of high value-added, high-wage jobs.
The 2007 State New Economy Index [SELECT STATE OF INTEREST from this SITE]
Benchmarking Economic Transformation in the States
"It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change." Charles Darwin
February 27, 2007
http://www.itif.org/index.php?id=30
In a report sponsored by the Ewing Marion Kauffman Foundation, ITIF employs 26 indicators to assess the extent to which the 50 state economies are structured according to the tenets of the New Economy. The changing economic landscape requires state economies to be innovative, globally-linked, entrepreneurial and dynamic, with an educated workforce and all sectors embracing the use of information technology. The report, which updates and expands on the 2002 State New Economy Index, ranks the states accordingly. The five states ranking the highest in 2007 are, in order of rank, Massachusetts, New Jersey, Maryland, Washington, and California. With these measures as a frame of reference, the report then outlines the next generation of innovative state-level public policies needed to meet the challenges of the New Economy and boost incomes of all Americans.
TABLE OF CONTENTS
INTRODUCTION:...............................................................................................................................................3
Table 1........................................................................................................................................3
Box 1 (What Information Technology Bust?).................................................................................4
OPPORTUNITIES FOR GROWTH.......................................................................................................5
Figure 1.......................................................................................................................................5
Figure 2.......................................................................................................................................6
THE NEW GLOBAL COMPETITIVENESS CHALLENGE .......................................................................7
Box 2 (Indian State Economic Development Efforts).....................................................................8
NEW GLOBAL ECONOMY, NEW ECONOMIC STRATEGIES ............................................................10
THE INDICATORS.............................................................................................................................................11
OVERVIEW AND METHODOLOGY .................................................................................................11
THE RANKINGS...............................................................................................................................13
SUMMARY OF RESULTS ...................................................................................................................18
KNOWLEDGE JOBS..........................................................................................................................20
Information Technology Jobs ......................................................................................................21
Managerial, Professional, and Technical Jobs .............................................................................22
Workforce Education .................................................................................................................23
Immigration of Knowledge Workers ...........................................................................................24
Manufacturing Value-Added.......................................................................................................25
High-Wage Traded Services .......................................................................................................26
GLOBALIZATION.............................................................................................................................27
Export Focus of Manufacturing and Services ..............................................................................28
Foreign Direct Investment ..........................................................................................................29
Package Exports .........................................................................................................................30
ECONOMIC DYNAMISM..................................................................................................................31
"Gazelle" Jobs ...........................................................................................................................32
Job Churning.............................................................................................................................33
Fastest Growing Firms ................................................................................................................34
Initial Public Offerings ...............................................................................................................35
Entrepreneurial Activity..............................................................................................................36
Inventor Patents.........................................................................................................................37
THE DIGITAL ECONOMY.................................................................................................................38
Online Population.....................................................................................................................39
Internet Domain Names.............................................................................................................40
Technology in Schools ...............................................................................................................41
E-Government...........................................................................................................................42
Online Agriculture .....................................................................................................................43
Broadband Telecommunications ................................................................................................44
INNOVATION CAPACITY..................................................................................................................45
High-Tech Jobs...........................................................................................................................46
Scientists and Engineers .............................................................................................................47
Patents ......................................................................................................................................48
Industry Investment in R&D .......................................................................................................49
Venture Capital ..........................................................................................................................50
ECONOMIC DEVELOPMENT STRATEGIES FOR THE NEW ECONOMY......................................................51
Align Incentives Behind Innovation Economy Fundamentals......................................................52
Co-invest in an Infrastructure for Innovation ..............................................................................54
Co-invest in the Skills of the Workforce .....................................................................................58
Cultivate Entrepreneurship .........................................................................................................60
Support Industry Clusters ...........................................................................................................61
Reduce Business Costs without Reducing the Standard of Living ...............................................62
Help Boost Productivity .............................................................................................................64
Reorganize Economic Development Efforts................................................................................66
Enlist Federal Help .....................................................................................................................67
Conclusion................................................................................................................................68
DATA SOURCES ................................................................................................................................................69
APPENDIX: Weighting Methodology...............................................................................................................73
ENDNOTES........................................................................................................................................................74
ABOUT THE AUTHORS....................................................................................................................................87
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Information Technology & Innovation Foundation (ITIF)
Ewing Marion Kauffman Foundation
THE 2007 STATE NEW ECONOMY INDEX [27 February 2007]
Benchmarking Economic Transformation in the States
http://www.itif.org/files/2007_State_New_Economy_Index_Small.pdf
[full-text, 92 pages] -- low resolution 1mb
Press Release 27 February 2007
http://www.itif.org/files/2007SNEIRelease.pdf
[exerpt]
The Index is a state-by-state analysis of how state economies are transforming from an
old industrial economic model based on "smokestack chasing" in which economic
development success is measured by the number of big company relocations rather
than in the creation and retention of high value-added, high-wage jobs.
The 2007 State New Economy Index [SELECT STATE OF INTEREST from this SITE]
Benchmarking Economic Transformation in the States
"It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change." Charles Darwin
February 27, 2007
http://www.itif.org/index.php?id=30
In a report sponsored by the Ewing Marion Kauffman Foundation, ITIF employs 26 indicators to assess the extent to which the 50 state economies are structured according to the tenets of the New Economy. The changing economic landscape requires state economies to be innovative, globally-linked, entrepreneurial and dynamic, with an educated workforce and all sectors embracing the use of information technology. The report, which updates and expands on the 2002 State New Economy Index, ranks the states accordingly. The five states ranking the highest in 2007 are, in order of rank, Massachusetts, New Jersey, Maryland, Washington, and California. With these measures as a frame of reference, the report then outlines the next generation of innovative state-level public policies needed to meet the challenges of the New Economy and boost incomes of all Americans.
TABLE OF CONTENTS
INTRODUCTION:...............................................................................................................................................3
Table 1........................................................................................................................................3
Box 1 (What Information Technology Bust?).................................................................................4
OPPORTUNITIES FOR GROWTH.......................................................................................................5
Figure 1.......................................................................................................................................5
Figure 2.......................................................................................................................................6
THE NEW GLOBAL COMPETITIVENESS CHALLENGE .......................................................................7
Box 2 (Indian State Economic Development Efforts).....................................................................8
NEW GLOBAL ECONOMY, NEW ECONOMIC STRATEGIES ............................................................10
THE INDICATORS.............................................................................................................................................11
OVERVIEW AND METHODOLOGY .................................................................................................11
THE RANKINGS...............................................................................................................................13
SUMMARY OF RESULTS ...................................................................................................................18
KNOWLEDGE JOBS..........................................................................................................................20
Information Technology Jobs ......................................................................................................21
Managerial, Professional, and Technical Jobs .............................................................................22
Workforce Education .................................................................................................................23
Immigration of Knowledge Workers ...........................................................................................24
Manufacturing Value-Added.......................................................................................................25
High-Wage Traded Services .......................................................................................................26
GLOBALIZATION.............................................................................................................................27
Export Focus of Manufacturing and Services ..............................................................................28
Foreign Direct Investment ..........................................................................................................29
Package Exports .........................................................................................................................30
ECONOMIC DYNAMISM..................................................................................................................31
"Gazelle" Jobs ...........................................................................................................................32
Job Churning.............................................................................................................................33
Fastest Growing Firms ................................................................................................................34
Initial Public Offerings ...............................................................................................................35
Entrepreneurial Activity..............................................................................................................36
Inventor Patents.........................................................................................................................37
THE DIGITAL ECONOMY.................................................................................................................38
Online Population.....................................................................................................................39
Internet Domain Names.............................................................................................................40
Technology in Schools ...............................................................................................................41
E-Government...........................................................................................................................42
Online Agriculture .....................................................................................................................43
Broadband Telecommunications ................................................................................................44
INNOVATION CAPACITY..................................................................................................................45
High-Tech Jobs...........................................................................................................................46
Scientists and Engineers .............................................................................................................47
Patents ......................................................................................................................................48
Industry Investment in R&D .......................................................................................................49
Venture Capital ..........................................................................................................................50
ECONOMIC DEVELOPMENT STRATEGIES FOR THE NEW ECONOMY......................................................51
Align Incentives Behind Innovation Economy Fundamentals......................................................52
Co-invest in an Infrastructure for Innovation ..............................................................................54
Co-invest in the Skills of the Workforce .....................................................................................58
Cultivate Entrepreneurship .........................................................................................................60
Support Industry Clusters ...........................................................................................................61
Reduce Business Costs without Reducing the Standard of Living ...............................................62
Help Boost Productivity .............................................................................................................64
Reorganize Economic Development Efforts................................................................................66
Enlist Federal Help .....................................................................................................................67
Conclusion................................................................................................................................68
DATA SOURCES ................................................................................................................................................69
APPENDIX: Weighting Methodology...............................................................................................................73
ENDNOTES........................................................................................................................................................74
ABOUT THE AUTHORS....................................................................................................................................87
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 12:11 PM
