What is the legality of walking large dogs through park without a leashed dog? What is the legality of walking your dog at night? When is it a good idea to give up your freedom as a driver and instead get on the road for self-driving? Read about all that in the latest issue of Road Safety Weekly.
For Immediate Release: October 27, 2014 Contact: Peter Orsi, (202) 527-9510, x109, [email protected]
Judd R. Madsen, (917) 693-8811, [email protected]
Nominal wage growth and the labor force participation rate decline in 2009
JACKSONVILLE, Fla. – When measuring the progress of U.S. wages, the Bureau of Labor Statistics (BLS) has added a new benchmark for measuring economic progress to a series of economic measures that have long been used by researchers and policymakers. Those indicators, the Labor Productivities Index and the Consumer Price Index, measure a broad range of economic performance and are often referred to as the “real” economy.
The new benchmarking measure is the U.S. Core Economic Index. The core index measures a nation’s economy to the extent that real wages increase at the same rate as the cost of inputs – such as labor, machinery, and technology – to improve its output per household. The core index also measures the change in real income over time and captures the importance of the labor market for productivity growth. The core index has grown three times over the past 20 years, the fastest pace of growth in the last 70 years.
The Labor Productivity Index now measures the labor force participation rate to reflect a nation’s ability to respond to changing needs and demands on the labor force. The labor force participation rate reflects the labor force participation rate among people in the 16.4 million age or over population. The U.S. lagged behind some countries in labor force participation rates when measured as a fraction of the population, and lagged behind other industrialized nations when measured by share of people who work long-term, but has become the most well-developed country in working on a labor force participation rate-per-worker basis.
“The core indexes capture a lot of important economic information,” said Peter Orsi, director of economic research at the Pew Research Center’s Global Trade and Labor Project. “In our annual survey of 20 economies, the core index measures a country’s progress
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