The level of employment has a direct effect on people's well-being and the government's finances. When employment is higher, incomes and federal revenues are higher, while federal outlays for income support programs are lower. CBO analyzes the causes and consequences of unemployment, the effects of the unemployment insurance program, the impact of various policy proposals that might affect employment, and other issues concerning labor markets such as people's participation in the labor force.
Employment and Labor Markets
Feb 2014 - Raising the minimum wage would increase family income for many low-wage workers, moving some of them out of poverty. But some jobs for low-wage workers would probably be eliminated and the income of those workers would fall substantially.
Feb 2014 - Since the recession ended in June 2009, employment has risen sluggishly and the unemployment rate has fallen only partway back to its prerecession level. This CBO report discusses the reasons for the slow recovery of the labor market.
Nov 2012 - Between 2007 and 2010, unemployment benefits expanded nearly five-fold owing to high unemployment due to the weak economy, and decisions by policymakers to increase the number of weeks for which eligible unemployed workers could receive benefits.
Mar 2012 - Small firms, widely believed to promote job growth, both create and eliminate jobs at higher rates than large firms do. Although small firms account for a disproportionate share of net job growth, that greater growth is driven primarily by new small firms.
Feb 2012 - The rate of unemployment in the United States has exceeded 8 percent since February 2009, and CBO projects that it will remain above 8 percent until 2014.
Jan 2012 - This analysis focuses on wages, benefits, and total compensation between 2005 and 2010.
- cost estimateApril 15, 2014
- cost estimateApril 1, 2014
- blog postMarch 20, 2014
- cost estimateMarch 13, 2014
- blog postMarch 13, 2014
- presentationFebruary 20, 2014
H.R. 2131, Supplying Knowledge-based Immigrants and Lifting Levels of STEM Visas Act (SKILLS Visa Act)cost estimateMarch 12, 2014
- reportMarch 12, 2014
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