The Labor Market in Macroeconomic Theory Wage growth lagging productivity growth indicates that the supply of labor has outpaced demand, according to macroeconomic theory.

The “dual labor market” theory paints a picture of two very different job markets in terms of stability, pay, and mobility. by Sabri Ben-Achour and Alex Schroeder. Listen Now.

Inflation is up. The stock market is down. Unemployment is just 3.5 percent. Yet labor force participation remains stubbornly low, with only 62.3 percent of the civilian population working or ...

We’re approaching the four-year anniversary of the economic recovery, and it still doesn’t feel like much of one, what with the unemployment rate at 7.7 ...

The labor theory of value (LTV) was an early attempt by economists to explain why goods were exchanged for certain relative prices on the market.

The U.S. labor market has looked really good in the past year even as inflation bites in the wider economy. But an old theory that’s recently regained ground says that there are actually two job ...

For people over age 15, the labor-force participation rate—the share of people employed or actively seeking a job—dropped from an average of 63.1% in 2019 to 61.7% in 2021, and recovered to 62 ...

Back in 2022, when the labor market was so hot that Beyoncé even released a song about it, Americans were job hopping in large numbers, boosting their salary in the process.