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Employment and Labor Markets

This research area encompasses issues surrounding employment and labor markets, including the Levy Institute's proposed full employment (or job opportunity) program, as well as research into the effects of technology on earnings and trends in productivity, the effects of a minimum-wage increase on hiring practices and earnings, and the impact of unions on economic performance in developing countries.

Today, in the aftermath of the worst economic crisis since the Great Depression, there are 8.7 million unemployed—5.6 percent of the labor force. Involuntary part-time workers— those employed less than full-time for economic reasons—number approximately 7 million. And there are roughly 10 million full-time workers whose wages place them at or below the official poverty line. Clearly, there is room for improvement on the jobs front.

In response to this problem, Levy Institute scholars have proposed a full employment, or job opportunity, program that would employ all who are willing to work and increase flexibility between economic sectors, thereby lowering the social and economic costs of unemployment. In the postwar period, “Keynesian” policies to promote full employment have relied on a favorable business environment to stimulate investment spending, and they have been largely ineffective: unemployment rates have trended upward, real wages for most workers have declined, and poverty rates have remained stubbornly high. 

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Core Team

Dimitri B. Papadimitriou

Dimitri B. Papadimitriou

Jerome Levy Professor of Economics, Bard College; President, Levy Economics Institute

Jan Kregel

Jan Kregel

Director, M.S. in Economic Theory and Policy, Bard College; Senior Scholar and Director of Research, Levy Economics Institute

Rania Antonopoulos

Rania Antonopoulos

Senior Scholar and Director, Gender Equality and the Economy Program, Levy Economics Institute

L. Randall Wray

L. Randall Wray

Professor of Economics, Bard College; Senior Scholar, Levy Economics Institute

Pavlina R. Tcherneva

Pavlina R. Tcherneva

Assistant Professor of Economics, Bard College; Research Associate, Levy Economics Institute

 

The Levy Institute has published 1740 research publications to date.

Levy Publications



Elizabeth Dunn, Michael Stephens, September 2017

Levy In the Media