Fed symposium addresses labor market woes
Each summer Fed policymakers meet with other central bankers and economists at an annual Economic Policy Symposium in Jackson Hole, Wyoming. Held August 21–23, this year’s gathering, for the first time in two decades, focused on ways of combating persistent unemployment and stagnant wages. Recognizing these problems existed as the U.S. economy exited the Great Recession, Upjohn Institute researchers compiled a set of time-tested and innovative responses that address the same goals that symposium attendees focused on. With national and international attention once again focused on lingering labor market problems, now is a good time to revisit the Upjohn proposals on national labor market policy, which include:

Previous Research Highlights
UPJOHN INSTITUTE PRESS LATEST RELEASE

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What Does the Minimum Wage Do?
Dale Belman and Paul J. Wolfson
07/2014

This book attempts to make sense of the research on the minimum wage that began in the early 1990s. The authors look at who is affected by the minimum wage, both directly and indirectly; which observable, measurable variables (e.g., wages, employment, school enrollment) the minimum wage influences; how long it takes for the variables to respond to the minimum wage and the size and desirability of the effect; why the minimum wage has the results it does (and not others); and the workers most likely to be affected by changes to the minimum wage.