Although unemployment is often used as a measure of labor market inefficiency, economic theory indicates that market inefficiency is determined by both the gap between and the elasticities of supply and demand. Using time series data for the United States and United Kingdom, this article...

Beginning in the early 2000s, there was an upsurge of national concern over the state of the science and engineering job market that sparked a plethora of studies, commission reports, and a presidential initiative, all stressing the importance of maintaining American competitiveness in these...