Labor Markets

This chapter presents a brief historical overview of labor and labor markets, using the United States as a case study. Topics include the concepts of the labor force and the labor market; sources of information for historical study; basic features of change over time in the size and composition of the labor force, hours worked, occupations, and skills; changes in real wages over time and in the structure of wages; the emergence of a national market for labor; and the evolution of racial differences.