U3, the official unemployment rate, is an inadequate gauge of labor-market slack and the extent to which it misinforms … varies substantially over the business cycle. The U6 unemployment rate is usually about 4 percentage points above U3. However …

post-expansion certify their skills at significantly higher rates relative to those displaced pre-expansion. Increases in … certification post-expansion significantly reduce income losses after job loss. Certifying skills fosters recovery among early …

have started focusing on individual skills rather than on formal qualifications in their recruiting. By analysing a large … university education for AI roles declined by 23%, while AI roles advertise five times as many skills as job postings on average … positions the educational premium persists. In contrast, AI skills have a wage premium of 16%, similar to having a PhD (17 …

worker-job complementarity, we estimate how interpersonal, cognitive and manual skills map into job offers, unemployment and …How skills acquired in vocational education and training (VET) affect wages and employment is not clear. We develop and … skills, while firms require and value different combinations of these skills. Assuming that match productivity exhibits …

We develop novel measures of early-career skills that are more detailed, comprehensive, and labor-market-relevant than …-approved, nationally standardized apprenticeship plans. These plans provide more than 13,000 different skills and the exact duration of … skills acquired during apprenticeship are highly - yet differently - rewarded. We also document rising returns to digital and …

immigrants' wages are the lowest of all workers due to their ineligibility for unemployment benefits and lower wage bargaining … immigration enforcement mutes job creation and raises the unemployment rate of all workers, having an even larger detrimental …