Academic journal article Monthly Labor Review

The October Review

Academic journal article Monthly Labor Review

The October Review

Article excerpt

The "New Economy" and its star icon, the Internet, have quite rapidly created a boom, at least in the economic analysis business. Until now, the most visible sign of this boom in the Review has been the increasingly frequent treatment of new-economy-oriented papers in the Precis department. Now, Peter Kuhn and Mikal Skuterud have brought an analysis of the Internet's labor market impacts to the articles section of the magazine. Among their findings, about 15 percent of unemployed jobseekers use the Internet to look for a position, as do about 7 percent of employed workers. Also, it was much more common to search from home than outside one's residence, even among those looking to change jobs.

Economic statistics can be a subtle art. Differences in survey design, sample selection, and even respondent interpretation of concepts can lead to measured differences between what should be very similar series. Anthony J. Barkume and Michael K. Lettau investigate one such case: the 5.8-percent difference between two sets of estimates of the average hourly earnings of workers in the service-producing sector. …

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