全球智库信息集成服务系统(G2TT): Cashier or Consultant? Entry Labor Market Conditions, Field of Study, and Career Success

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w20531
来源ID	Working Paper 20531
	Cashier or Consultant? Entry Labor Market Conditions, Field of Study, and Career Success
	Joseph G. Altonji; Lisa B. Kahn; Jamin D. Speer
发表日期	2014-09-25
出版年	2014
语种	英语
摘要	We analyze the early labor market outcomes of U.S. college graduates from the classes of 1974 to 2011, as a function of the economic conditions into which they graduated. We have three main findings. First, poor labor market conditions substantially disrupt early careers. A large recession at time of graduation reduces earnings by roughly 10% in the first year, for the average graduate. The losses are driven partially by a reduced ability to find employment and full-time work and partially by a roughly 4% reduction in hourly wage rates. Second, these effects differ by field of study. Those in majors with typically higher earnings experience significantly smaller declines in most labor market outcomes measured. As a result, the initial earnings and wage gaps across college majors widen by almost a third and a sixth, respectively, for those graduating into a large recession. Most of these effects fade out over the first 7 years. Those in higher paying majors are also slightly less likely to obtain an advanced degree when graduating into a recession, consistent with their relative increase in opportunity cost. Our third set of results focuses on a recent period that includes the Great Recession. Early impacts on earnings are much larger than what we would have expected given past patterns and the size of the recession, in part because of a large increase in the cyclical sensitivity of demand for college graduates. The effects also differ much less by field of study than those of prior recessions.
主题	Labor Economics ; Labor Supply and Demand ; Labor Compensation
URL	https://www.nber.org/papers/w20531
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/578205
推荐引用方式 GB/T 7714	Joseph G. Altonji,Lisa B. Kahn,Jamin D. Speer. Cashier or Consultant? Entry Labor Market Conditions, Field of Study, and Career Success. 2014.