A narrative description of the Millimet et. al (2002) econometric worklife model

The following describes the approach used by Millimet et al (2002) to estimate U.S. worker worklife expectancy. The pdf version can be found here: Millimet (2002) Methodology Description  Methodology First, transition probabilities are obtained from a two state labor market econometric model.   The two labor market states are active and inactive in the workforce.  The transition [...]

U.S. Economy|

Big BLS employment data, disability, and worklife expectancy

Big Data. Bureau of Labor Statistics. Survey data. Employment Big Data.  Those are all things that calculating worklife expectancy for U.S. workers requires.  Worklife expectancy is similar to life expectancy and indicates how long a person can be expected to be active in the workforce over their working life.  The worklife expectancy figure takes into account [...]

U.S. Economy|

FLSA OT report for individuals working in Derrick, rotary drill, and services unit operators, oil, gas, and mining occupations

In this post, we look at the weekly overtime (OT) hours typically worked by those who work in Derrick, rotary drill, and services unit operators, oil, gas, and mining occupations. Many of the employees that work in these jobs are not exempt from FLSA overtime pay and earn 1.5 times pay for hours worked over 40 [...]

Younger workers today have slightly less attachment to the workforce than younger workers in the past

Big Data. Bureau of Labor Statistics. Survey data. Employment Big Data.  Those are all things that calculating worklife expectancy for U.S. workers requires.  Worklife expectancy is similar to life expectancy and indicates how long a person can be expected to be active in the workforce over their working life.  The worklife expectancy figure takes into account [...]

U.S. Economy|

Replication of the Millimet et al. (2002) work was sufficient and yielded similar results

Big Data. Bureau of Labor Statistics. Survey data. Employment Big Data.  Those are all things that calculating worklife expectancy for U.S. workers requires.  Worklife expectancy is similar to life expectancy and indicates how long a person can be expected to be active in the workforce over their working life.  The worklife expectancy figure takes into account [...]

U.S. Economy|

Steward and Gaylor (2015) Matched CPS Sample Sizes for 1993-2013 time period

Big Data. Bureau of Labor Statistics. Survey data. Employment Big Data.  Those are all things that calculating worklife expectancy for U.S. workers requires.  Worklife expectancy is similar to life expectancy and indicates how long a person can be expected to be active in the workforce over their working life.  The worklife expectancy figure takes into account [...]

U.S. Economy|