Jobs

Who Works the Minimum Wage? The 1.6 million paid-hourly workers who earn minimum wages can be broken down into two broad groups.1 Over half (53 percent) are teenagers or young adults under the age of 23. More than half (54 percent) of these young workers live in families with incomes two or… Read more

The Congressional Budget Office (CBO) warns that a tax on certain financial transactions could “diminish the importance of the United States as a major financial market” and that, in the short run, “imposing the transaction tax would probably reduce output and employment.”[1] While these effects would be “mitigated”… Read more

President Obama’s health care law requires employers to offer health benefits to full-time employees. This employer mandate will price many unskilled workers out of full-time employment. After paying the new health premiums, the minimum wage, payroll taxes, and unemployment insurance taxes, hiring a full-time worker will… Read more

The Bureau of Labor Statistics reported that in January, the economy added 243,000 jobs—108,000 more than the consensus forecast of 135,000. As a result, the unemployment rate fell from 8.5 percent to 8.3 percent, the lowest level since February 2009. For the last three months, job creation has averaged 201,000… Read more

The Congressional Budget Office (CBO) warns that a tax on certain financial transactions could “diminish the importance of the United States as a major financial market” and that, in the short run, “imposing the transaction tax would probably reduce output and employment.”[1] While these effects would be “mitigated”… Read more

In December, the labor market continued its improvement by adding 200,000 jobs, and the unemployment rate fell again to 8.5 percent, the lowest level since February 2009. The annual year-end revisions to the unemployment rate confirm the gradual but significant improvement in the labor market since the end of summer.… Read more

The Bureau of Labor Statistics reported that the number of jobs grew in November by 120,000 and that the unemployment rate fell to 8.6 percent, the lowest level since March 2009. The sharp drop in the unemployment rate was a result of solid job growth in the household survey and… Read more

Unemployment remains stuck at 9 percent because of low job creation, not higher job losses. In fact, job losses hit a record low in March 2011. Fewer entrepreneurs are starting new companies, and fewer business owners are expanding existing enterprises. Reduced job creation entirely explains the economy’s high… Read more

Do regulations kill jobs? Not according to Senate Majority Leader Harry Reid (D–NV). In a floor speech November 15, Reid argued that the idea that regulations cost jobs was a “myth,” claiming that according to the Labor Department, “only a tiny fraction of layoffs have anything at all to do… Read more

Union contracts frequently require employees to pay union dues or lose their jobs. This forces workers to support the union financially even if the union contract harms them or they oppose the union’s agenda. Several states, including New Hampshire and Indiana, are considering right-to-work laws, which protect workers from being… Read more

The Bureau of Labor Statistics reported that the U.S. economy created 80,000 total jobs in October, and the unemployment rate had a slight decline to 9 percent. The private sector added 104,000 jobs, while government jobs fell by 24,000. The labor market is adding jobs and holding steady but not… Read more