The Millennials' Transition from School to Work
This is the first paper that studies Millennials' school-to-work transition. Based on a dataset that circumvents the classic initial condition problem, we construct a longitudinal sample of youths' labor market history. Applying the sample to the canonical Burdett and Mortensen (1998) equilibrium framework, we find that racial differences in job search behavior and mean earnings are insignificant, and that males are less efficient than females both in entering and moving up the wage ladder, albeit the mean wage for males exceeds that for females. Further, we find the labor market deteriorated substantially for white male Millennials relative to those in Generation X. If white male Millennials faced search frictions as in Generation X, the mean job duration would be almost doubled while mean earnings would be almost 45 per cent higher. We also find labor market deterioration occurred prior to the Great Recession. Further, we find that the employment of white males is most adversely affected by mandatory minimum wage increase, roughly in a scale of 1:1
Year of publication: |
2022
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Authors: | wong, Yuet-Yee Linda ; Bowlus, Audra J. |
Publisher: |
[S.l.] : SSRN |
Saved in:
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