Has the Willingness to Work Fallen during the Covid Pandemic?

Faberman, R. Jason; Mueller, Andreas I.; Şahin, Ayşegül

doi:10.1016/j.labeco.2022.102275

Cited by 15 publications

(4 citation statements)

References 20 publications

(15 reference statements)

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“…addition to the employment or participation rate, to have an accurate assessment of the labor market conditions. In the current labor market, focusing only on unemployment and labor force participation will lead to a significant underestimation of the tightness of the labor market, which echoes the conclusion of Domash and Summers (2022) and Faberman, Mueller, and Şahin (2022) about the labor market of 2021. Relatedly, Bick, Blandin, and Fuchs-Schündeln (2022) emphasize the importance of the hours margin in growth-accounting exercises and in the projection of potential labor supply.…”

Section: Discussionmentioning

confidence: 95%

“…The tight labor markets with high vacancy rates (Section 2.1) suggest that workers would have opportunities to work more hours if they so choose. More important, Faberman, Mueller, and Şahin (2022) provide direct survey evidence revealing a sharp decline in people's desired work hours during the COVID-19 pandemic that persisted through the end of 2021. Our analysis shows that workers indeed reduced their work hours at least through the end of 2022.…”

Section: Discussion On Hours Declinementioning

confidence: 99%

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Where Are the Workers? From Great Resignation to Quiet Quitting

Lee,

Park,

Shin

2024

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To better understand the tight post-pandemic labor market in the US, we decompose the decline in aggregate hours worked into extensive margin changes (fewer people working) and intensive margin changes (workers working fewer hours). Although the preexisting trend of lower labor force participation, especially by young men without a bachelor's degree, accounts for some of the decline in aggregate hours, the intensive margin accounts for more than half of the decline between 2019 and 2022. The decline in hours among workers was larger for men than women. Among men, the decline was larger for those with a bachelor's degree than those with less education, for prime-age workers than older workers, and also for those who already worked long hours and had high earnings. The reduction in workers' hours can explain why the labor market is even tighter than what is expected at the current levels of unemployment and labor force participation.

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Section: Discussionmentioning

confidence: 95%

Section: Discussion On Hours Declinementioning

confidence: 99%

Where Are the Workers? From Great Resignation to Quiet Quitting

Lee,

Park,

Shin

2024

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“…Labor supply after the Great Recession is studied by Rothstein (2011, , Hagedorn et al (2016), Johnston and Mas (2018), Hagedorn et al (2019), andBoone et al (2021). Labor supply after the COVID-19 pandemic is studied by Boar and Mongey (2020), Holzer et al (2021), Albert et al (2022), Petrosky-Nadeau (2020), Petrosky-Nadeau andValletta (2021), andFaberman et al (2022). These are not exhaustive lists in any way.…”

Section: Appendix a Some Additional Background On The Ui Systemmentioning

confidence: 99%

Discretionary Extensions to Unemployment Insurance Compensation and Some Potential Costs for a McCall Worker

Ryan

2023

Risks

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Unemployment insurance provides temporary cash benefits to eligible unemployed workers. Benefits are sometimes extended by discretion during economic slumps. In a model that features temporary benefits and sequential job opportunities, a worker’s reservation wages are studied when policymakers can make discretionary extensions to benefits. A worker’s optimal labor-supply choice is characterized by a sequence of reservation wages that increases with weeks of remaining benefits. The possibility of an extension raises the entire sequence of reservation wages, meaning a worker is more selective when accepting job offers throughout their spell of unemployment. The welfare consequences of misperceiving the probability and length of an extension are investigated. Properties of the model can help policymakers interpret data on reservation wages, which may be important if extended benefits are used more often in response to economic slumps, virus pandemics, extreme heat, and natural disasters.

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“…The drop in employment has not been caused by rising unemployment (when people are generally searching for work), but rather by rising “economic inactivity” (when they generally are not) 1. These declines have not occurred in most industrialised nations with a notable exception of the US 23. A natural conclusion might be that the two trends are related.…”

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confidence: 99%

Falling employment and worsening health in the UK: connected or distinct trends?

Cribb

2023

BMJ

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Increasing economic inactivity and worsening health are concerning trends, but they look like distinct issues, writes Jonathan Cribb Jonathan Cribb associate directorTwo concerning economic and social trends in the UK emerging from the covid-19 pandemic are the fall in employment of people aged 50 and over and the increase in sickness levels in the population. The drop in employment has not been caused by rising unemployment (when people are generally searching for work), but rather by rising "economic inactivity" (when they generally are not). 1 These declines have not occurred in most industrialised nations with a notable exception of the US. 2 3 A natural conclusion might be that the two trends are related. But a closer look at the data implies that-in 2020-21 at least-these issues have been quite distinct. 3 OECD iLibrary. OECD economic uutlook 2022. https://www.oecd-ilibrary.org/economics/oecd-economic-outlook/volume-2022/issue-2_f6da2159-en 4

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Has the Willingness to Work Fallen during the Covid Pandemic?

Cited by 15 publications

References 20 publications

Where Are the Workers? From Great Resignation to Quiet Quitting

Where Are the Workers? From Great Resignation to Quiet Quitting

Discretionary Extensions to Unemployment Insurance Compensation and Some Potential Costs for a McCall Worker

Falling employment and worsening health in the UK: connected or distinct trends?

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