Employment Falls Short of Pre-Recession Level: Lazear

The video discusses employment levels before and after the recession, highlighting the need for job growth to match population increases. It explores structural changes in the economy, such as shifts in manufacturing and labor force participation, and their impact on job recovery. The video also examines factors affecting wage growth, the rise in part-time work potentially linked to Obamacare, and the role of trade in economic improvement.

What is the current employment to population ratio mentioned in the video?

• 59.2%

• 61.5%

• 63.5%

• 4.4%

How many jobs per month are needed to keep up with population growth?

• 5,000,000

• 120,000

• 220,000

• 100,000

Why is it unlikely to return to a 63.5% labor force participation rate?

• Global competition

• Demographic changes

• Technological advancements

• Economic policies

What is the expected target for labor force participation considering demographic trends?

• 63.5%

• 59.2%

• 61.5%

• 4.4%

What is required for wage growth to occur after a recession?

• Increased government spending

• A tight labor market

• Higher interest rates

• More part-time jobs

What is the leading explanation for the increase in part-time workers?

• Global economic trends

• Increased automation

• Obamacare employer mandate

• Technological advancements

What is the most likely policy change to impact economic improvement?

• Trade agreements

• Healthcare reform

• Tax cuts

• Environmental regulations