Formal Assignment #4 - Essay Example

These changes relate to US demographics, including age, gender and ethnic composition. The changes in the labor market can affect both the native and immigrant populations. This paper discusses changes in the US labor market over the past few decades. The paper assumes that the same changes were in New York since it is part of US. One of the most important changes in New York and U.S. labor market is the increased labor force participation of women (Ricardo, Kristie and Michael 50). The past several decades recorded a steady increase in the number of women participating in the labor market.

Since 1999, the labor-force participation rate of these women remained steady. Another important demographic change that is affecting the labor force is the evolution of the population’s age distribution. Over the past several years, age is playing an important role in determining labor force participation in New York as well the U.S. most of the working population belongs to the baby-boom generation (Ricardo, Kristie and Michael 53). These are people born between 1946 and 1964. However, this may have negative effects on the overall labor force participation rate since most of these people are growing older.

The effect of age on the national economy may result from a reduction in the labor-force participation rate caused by aging of the baby-boom generation. Racial and ethnic diversity of the U.S. population is another important demographic change that affects labor force participation. Ethnic diversity may be because of social, economic, or political factors. However, it is clear that this diversity affects the labor market in one way or another. Over the past two decades, there is a significant difference in labor force participation among different races.

Between 1980 and 1990, the number of immigrant populations in the US labor market increased. The number of immigrant population employed was also very high. The number grew by about 50 percent during that