Employment and the cyclical cost of worker benefits

Gu, Grace Weishi

doi:10.1016/j.red.2017.08.001

Cited by 5 publications

(3 citation statements)

References 20 publications

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“…Other researchers have used it for different purposes. For instance, Gu (2018) and Makridis and Gittleman (2017) examine the relationship between firms' employment and labor costs. 8 Pierce (2001Pierce ( , 2010, and Monaco and Pierce (2015) find that inequality growth in broader measures of compensation exceeds wage inequality growth (also see Chung, 2003;Lettau, 2003;Gittleman & Pierce, 2013).…”

Section: A Related Literaturementioning

confidence: 99%

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New Evidence on Cyclical Variation in Average Labor Costs in the United States

Prasad

Moehrle

2020

Review of Economics and Statistics

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We provide new evidence on the cyclicality of employers' real labor costs using BLS establishment-job data for 1982-2018. Average straight-time wages have become countercyclical since the financial crisis and the subsequent Great Recession. So have benefit expenditures and overall labor costs, as well as major benefit expenditures, including health insurance and social security. Consistent with prior literature, we find that total earnings–the sum of straight-time wages, bonuses, and overtime earnings–were procyclical before 2008; even earnings have become countercyclical since then. The increasing countercyclicality of labor costs is largely attributable to periods with below-trend GDP.

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Section: A Related Literaturementioning

confidence: 99%

“…8 Gu (2018) uses labor market conditions to predict the level of benefit expenditures per worker, where she estimates a growth-to-level relation.…”

Section: Data Setmentioning

confidence: 99%

New Evidence on Cyclical Variation in Average Labor Costs in the United States

Prasad

Moehrle

2020

Review of Economics and Statistics

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“…Other researchers have used it for different purposes. For instance, Gu (2017) and Makridis and Gittleman (2017) examine the relationship between firms' employment and labor costs. Pierce (2001), Pierce (2010), and Monaco and Pierce (2015) find that inequality growth in broader measures of compensation exceeds wage inequality growth (also see Chung, 2003;Lettau, 2003;Gittleman and Pierce, 2013).…”

Section: Related Literaturementioning

confidence: 99%

New Evidence on Cyclical Variation in Labor Costs in the U.S.

Gu¹,

Prasad²

2018

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