This week, I wanted to examine data to see if there was a trend with average hours worked and employment, as well as unemployment. We would expect that as employment increases, so would hours worked. I took data from the OECD from the G7 members, Canada, France, Germany, Italy, Japan, the UK, and the US. seven of the major advanced economies in the world, Here are the results. So far, France follows the trend we would expect; employment and hours worked are mostly parallel. Canada also mostly follows this, but we can see a slight trend where employment has been Continue reading Trends of Hours Worked and Employment of G7
Recently there has been a lot of talk about the ever rapidly growing market for machines that can replicate what used to be a human run job. According to Autodesk CEO Carl Bass, “The factory of the future will have only two employees: a man and a dog. The man will be there to feed the dog. The dog will be there to keep the man from touching the equipment.” Economists predict that this type of automation will make the human jobs that we know today obsolete in the near future. Just in the US manufacturing jobs have fallen from 25% Continue reading The Robotic Future of the Job Market
On October 8th at 7pm, colleagues at Pacific Lutheran University will hold their latest installment of the Ruth Anderson Public Debate, where two teams (one expert and one student debater each) will engage in a debate on the subject of increasing the minimum wage in Tacoma to $15 an hour. Sound Economics will be there covering the debate live, and we encourage those economically-minded readers to attend if you can! If you cannot attend, follow the debate on Twitter; a small handful of questions for the debaters will be selected from Twitter submissions. In the weeks leading up to the debate, Continue reading Should Tacoma increase its minimum wage to $15/hour? A live debate!