Unemployment in the state hit an all-time low of 2.1 percent this summer, the lowest in the nation. Though it has edged up a little since, it is still among the tightest labour markets in the US. And Connecticut is only the most extreme manifestation of the conditions that now prevail across America. Unemployment nationally is 4.1 percent, the lowest since 1970.
The performance of the US labour market in the late 1990s is as much a feature of the puzzlingly benign so-called New Economy.
For the past four years the US has enjoyed an average annual growth rate of 4 percent— up from an average of about 3 percent in the previous decade. Productivity improvements account for about two-thirds of that elevated output, as workers have increased their output per hour.
The rest has come from a rapid increase in the total number of workers, what economists call labour inputs. There has been a surge in new jobs—7m in the last three years—that has pushed the unemployment rate down into the uncharted territory of barely 4 percent.
Recent economic history suggests that, whenever unemployment has gone this low, the scramble for workers becomes so difficult that wages are rapidly bid up, and an inflationary spiral follows. But in the US in the past five years, wage growth has been muted. In the last year, total employee compensation in the private sector rose by just 3.3 percent, almost unchanged on the figure three years ago, when the unemployment rate was 5.4 percent.
"In some ways it's a bigger puzzle than the productivity puzzle," says Paul Krugman, professor of economics at the Massachusetts Institute of Technology. "How can we have such a low unemployment rate without an explosion of wages？"
A number of factors appear to have contributed.
In their search for workers to fill positions, companies have reached out to places they have not looked at in the past. As a result, more people are working than ever. The proportion of the population in employment reached a record high this year of more than 64 percent.
This expanded labour supply helps explain why companies have kept the lid on pay over the last few years. The availability of new sources of labour—women, retirees, college students among them—means companies may not have to give big pay rises to hire new workers. It also helps explain why the benefits of the New Economy are not always widely felt—more people seem to be working longer hours than ever.
But an expanded labour supply can only explain part of what has changed in the US in recent years. After all, unemployment—the proportion of the labour force out of work—has still declined, indicating that companies have drawn new workers not just from the pool of those not previously in the labour force, but also from the unemployed.
And yet still wage costs have remained muted.
One possible explanation is that companies have become more flexible in how they pay.
"At Newfield, we use a much broader variety of means to reward workers, including performance related pay, year-end bonuses, and extended contracts," says Mr. Ostop.
Why does Connecticut have the tightest labour market in the U. S. ？
The year was 1932.Amelia Earhart was flying alone from North America to England in a small single-engined aeroplane.At midnight, several hours after she had left Newfoundland, she ran into bad weather.To make things worse, her altimeter (高度表) failed and she didn't know how high she was flying.At night, and in a storm, a pilot is in great difficulty without an altimeter.At times, her plane nearly plunged into the sea.
Just before dawn, there was further trouble.Amelia noticed flames coming from the engine.Would she be able to reach land？ There was nothing to do except to keep going and to hope.
In the end, Amelia Earhart did reach Ireland, and for the courage she had shown, she was warmly welcomed in England and Europe.When she returned to the United States, she was honored by President Hoover at a special dinner in the White House.From that time on, Amelia Earhart was famous.
What was so important about her flight？ Amelia Earhart was the first woman to fly the Atlantic Ocean alone, and she had set a record of fourteen hours and fifty-six minutes.
In the years that followed, Amelia Earhart made several flights across the United States, and on each occasion she set a new record for flying time.Amelia Earhart made these flights to show that women had a place in aviation and that air travel was useful.
(1).Her engine went wrong when Amelia Earhart was flying alone from North America to England.()
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(2).When Amelia Earhart saw flames coming from the engine, she changed her direction and landed in Ireland.()
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(3).According to the passage, Amelia Earhart's reason for making her flights was to show that aviation was not just for men.()
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(4).Amelia Earhart was the first woman who succeeded in flying across the Atlantic Ocean alone.()
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(5)."A Dangerous Flight from North America to England would be the best title for the passage.()
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