Worker Well-Being (Research in Labor Economics)
How do technology, public works projects, mental health, race, gender, mobility, retirement benefits, and macroeconomic policies affect worker well-being? This volume contains fourteen original chapters utilizing the latest econometric techniques to answer this question. The findings include the following: (1) Technology gains explain over half the decline in U.S. unemployment and over two-thirds the reduction in U.S. inflation. (2) Universal health coverage would reduce U.S. labor force participation by 3.3%. (3) Blacks respond to regional rather than national changes in schooling rates of return, perhaps implying a more local labor market for blacks than whites. (4) Employee motivation enhances labor force participation, on-the-job training, job satisfaction and earnings. (5) Male and female promotion and quit rates are comparable once one controls for individual and job characteristics. (6) Public works programs designed to increase a worker’s skills do not always increase reemployment. And (7) U.S. pension wealth increased about 20%-25% over the last two decades.