The Changing Labor Market Environment in the 1980s

The anticipated changes in the 1980s labor market will strain capacity for both forecasting and institutional adjustment. In contrast to the 1970s, there will be a sharp drop in the growth of the labor force from the current 2.3% rate to 1.1%. The large numbers of young people who joined the labor f...

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Bibliographic Details
Published in:Nebraska Journal of Economics and Business 1981-01, Vol.20 (1), p.5-17
Main Author: Weber, Arnold R.
Format: Article
Language:English
Subjects:
Age
Behavior
Demographics
Employment
Labor force
Labor market
Labor markets
Labor supply
Labor unionization
Old age benefits
Older workers
Retirement
Retirement age
Trends
Unionization
Workforce
Younger workers
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Summary:The anticipated changes in the 1980s labor market will strain capacity for both forecasting and institutional adjustment. In contrast to the 1970s, there will be a sharp drop in the growth of the labor force from the current 2.3% rate to 1.1%. The large numbers of young people who joined the labor force during the 1970s will reach the 25-44 age bracket, creating a bulge of unprecedented proportions. The number of people aged 55 and over will continue to rise, while their participation rate is expected to fall. In the 1980s, the arena for the resolution of intergroup conflict will be the labor market and the work place, where the various competing groups have radically different perspectives on the world. This period will also be one of widespread experimentation with alternate work patterns. This changing environment will stimulate review of established public policies including immigration laws, Social Security, the Employee Retirement Income Security Act (ERISA), and fair labor standards. For the unions, the 1980s will present an opportunity to move farther out of a shrinking blue-collar perimeter and into the growing number of white-collar workers. Labor force developments will require more ingenious ways to satisfy personal and social needs.
ISSN:0160-6557
0747-5535
1939-8123
2327-8250