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 the first day back to school for the kids, but also Claire’s first day at her new job working for her father, Jay. Claire’s husband Phil tries to be supportive, but refers to the last 20 years that Claire has spent as a stay at home mom as a vacation.
See more: employment, household labor supply, household production, labor force participation, specialization, tradeoffs, 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
Since Lilly is now in school and Cam and Mitchell are not adopting another baby, Mitchell thinks it is time for Cam to get a job. Their friend Longeness offers him a job at his boutique to help Mitchell out. Cam accepts because it does seem like a great match for his tastes and skill set, but Jeoux let’s the cat out of the bag that it wasn’t a sincere offer, and Cam is very offended that Mitch thinks he is too lazy to get a job.
See more: household production, human capital, labor force, labor-leisure tradeoff, marginally attached, nonpecuniary benefits, search, tastes and preferences, tradeoffs, unemployment
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
After Mitchell quit his job, Cameron went to work to support them. Both Mitchell and Cameron think their partner is happy with this role reversal, but both are miserable and want to return to their original arrangement.
See more: added worker effect, division of labor, labor supply, preferences, specialization, unemployment