Introduction to Heterogeneity Series II: Labor Market Outcomes

Rajashri Chakrabarti

No 20200303, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: While average outcomes serve as important yardsticks for how the economy is doing, understanding heterogeneity—how outcomes vary across a population—is key to understanding both the whole picture and the implications of any given policy. Following our six-part look at heterogeneity in October 2019, we now turn our focus to heterogeneity in the labor market—the subject of four posts set for release tomorrow morning. Average labor market statistics mask a lot of underlying variability—disparities that factor into labor market dynamics. While we have written about labor market heterogeneity before, this series is an attempt to pull together in a cohesive way new insights on the labor market and highlight details that are not immediately obvious when we study aggregate labor market statistics.

Keywords: Inequality; Labor; Heterogeneity (search for similar items in EconPapers)
JEL-codes: J01 R10 (search for similar items in EconPapers)
Date: 2020-03-03
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