Claire is feeling a like she is not contributing to the family because she doesn’t have a job. She has applied to 5 jobs recently, but despite her college degree is rejected from all of them. Because she has been out of the labor force for so many years, he human capital has depreciated.
See more: college, education, human capital, human capital investments, human capital depreciation, job search, labor force, labor force participation, labor market, skills, unemployment
It is career day at Luke’s school, and the teacher asks Claire to speak about her job as a stay at home mom. She points out that she actually has a lot of different jobs, and while she would like to go back to work, it is hard to find a job after you have been out of the labor force for 15 years.
See more: household labor supply, household production, human capital depreciation, job search, labor force, labor force participation, labor market, skills, tradeoffs, unemployment
Luke hires Haley to work for him at the golf club. Sometimes, her service is a little off putting but she is still his best worker and brings in good tips. She’s going through the process so that she can save up and move out of her parent’s home.
See more: incentives, labor market, savings, training
Andy is Jay and Gloria’s new “manny” (a male nanny). He’s also been hanging out a lot with Haley, which makes Phil and Claire suspect a budding romance. In this scene, Andy approaches Phil because he wants to becoming a real estate agent. He knows that he’s going to need to acquire more human capital before he’s able to do that so he asks to work as Phil’s new assistant. In this scene, we watch Andy interview for this job. We also find out why Haley and Andy have been spending so much time together – they are practicing interview skills. Interviewing is like everything else and requires a special set of skills that we can get by practice. The better someone is at interviewing, the shorter the amount of time is that s/he will be among the frictionally unemployed (unemployment that results because it takes time to match the right worker to the right job).
See more: frictional unemployment, interviewing, labor market, unemployment
It’s Halloween and Americans love to wear costumes. Sometimes, they wear costumes to work. This scene underscores the importance of professional dress. The way that we dress is a signal to the world about who we are. Is the stenographer sending the right signal to the court by wearing a spider costume? Do you suppose she would have gotten the job if she dressed like this for the interview? Her choice of attire also casts a negative externality in court as Mitchell and the jury aren’t able to concentrate as well. These social costs are likely outweighing her private benefits.
See more: externalities, interviewing, labor market, negative externalities, private benefits, signaling, social costs