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Valuing Workplace Benefits

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Abstract

Workplace benefits—such as parental leave, sick leave, and flexible work arrangements—are increasingly being recognized as important determinants of differences in labor supply behavior, education and occupation choice, inequality in wages, and gender disparities in labor market outcomes. Researchers have argued that the failure of the United States to keep pace in providing more generous workplace benefits accounts for 29 percent of the decline in the nation’s labor force participation rate for women relative to that of other high-income countries in the Organisation for Economic Co-operation and Development (OECD). In this post, using novel data from a special module of the Federal Reserve Bank of New York’s Survey of Consumer Expectations (SCE) fielded in May 2015 and May 2016, we document the labor market prevalence of workplace benefits, analyze workers’ preferences for them, and discuss their impact on labor supply.

Suggested Citation

  • Gizem Koşar & Wilbert Van der Klaauw & Basit Zafar, 2017. "Valuing Workplace Benefits," Liberty Street Economics 20170602, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87196
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    More about this item

    Keywords

    labor supply; gender; workplace preferences;
    All these keywords.

    JEL classification:

    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs

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