Migration and business cycles

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Monograph

Identifikator:: 1736236210

URN:: urn:nbn:de:zbw-retromon-111544

Document type:: Monograph

Author:: Jerome, Harry

Title:: Migration and business cycles

Place of publication:: New York

Publisher:: National Bureau of Economic Research

Year of publication:: 1926

Scope:: 256 S.

Digitisation:: 2020

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter III. Employment opportunities for immigrants

Collection:: Economics Books

CHAPTER IIT EMPLOYMENT OPPORTUNITIES FOR IMMIGRANTS The Significance of a Measure of Employment Opportunity. With the passing of the era of abundant and fertile free land, industrial employment rather than agricultural opportunity has been the lodestone attracting the foreign worker to our shores. Particularly within the last three or four decades the typical im- migrant has been a prospective wage earner seeking employment in factory, mine, or construction camp. Data concerning fluctuations in the employment of wage earners are, accordingly, particularly pertinent to our study. The cycle of employment is the aspect of the business cycle which is of direct meaning to the immigrant. It is the most tangible measure of the conditions affecting his economic welfare; and hence it affords the obvious and logical basis for appraising the influence upon migration of fluctuations in economic opportunities and the celerity with which immigration and emigration currents respond to such changes. The Ideal Measure. The ideal index of employment, for our purpose, would cover all of those occupations in which immigrants engage in large numbers and would indicate, not merely the variations in the number of workers employed, but also the extent of part-time and over-time employment. Not only that, but to give a complete picture of the relative economic opportunity afforded the immigrant, our ideal index would be adjusted to variations in real wage rates, that is, in money rates reduced to terms of comparable purchasing power by allowance for changes in the prices of those articles which comprise the budget of the immigrant worker. In short, such an index would make al- Jowance for both the volume of employment and the real rate of compensation and thus measure changes in the real earnings in the immigrant industries. An index of employment portraying the condition of employment for the unskilled laborer would be particularly valuable, for it is 54

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