• By
  • Phil Izzo

A roundup of economic news from around the Web.

Labor Markets: The New York Fed concludes its weeklong look at the labor market, as Stefania Albanesi, Joshua Abel, and Ayşegül Şahin look at participation trends and provide an amazing interactive graphic. “Our analysis suggests that a key factor for future aggregate labor force participation is the behavior of married women, who have been the main drivers of the long-run trends discussed in this post. The rise in their participation until the early 1990s and subsequent stability through 2009, along with the sharp rise in women’s college graduation rates, points to a pool of highly skilled women who are not currently participating in the labor market. If labor market conditions improve sufficiently to attract them into the labor force, the result could be increased productivity. However, recent research suggests that growth of male earnings has tended to reduce the participation of skilled married women (Albanesi and Prados 2011). If this effect dominates, participation might decrease further.”

Shadow of Depression: Brad DeLong examines the aftereffects of a shock to growth. “For 62 years, from 1945-2007, with some sharp but temporary and regionalized interruptions, entrepreneurs and enterprisers could bet that the demand would be there if they created the supply. This played a significant role in setting the stage for the two fastest generations of global economic growth the world has ever seen. Now the stage has been emptied.”

1940 vs. 2010: The Census Bureau publishes a fascinating infographic that contrasts the U.S. in 1940 with today. “The 1940 Census came at a momentous time in our Nation’s history‐as we recovered from the Great Depression and not long before our entry into World War II. It was also the first Census that looked deeper into the details of much of American life. Now, 72 years later, upon release of the 1940 Census forms by the National Archives, we look back and see just how much America changed.”

Compiled by Phil Izzo



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