A Closer Look

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US Labor Market in Crisis – Two Charts

he enormous number of people who work only part-time for economic reasons is one the tragedies of the unemployment crisis in this country. It didn’t even start with the financial crisis. Before the 2001 recession, there were a little above 3 million of them. By September 2003, as the economy recovered, there were 4.84 million. … Continue reading

US – Long-Term Unemployment is elevated across all education, age, occupation, industry, gender, and racial and ethnic groups

Long-term unemployment is elevated for workers at every education level. The table below provides additional breakdowns of long-term unemployment by age, gender, race/ethnicity, occupation, and industry. For each category, the table shows the long-term unemployment rate in 2007, the long-term unemployment rate in 2013, and ratio of the two. It demonstrates that while there is … Continue reading

UK – Talent mismatch costs more than £1bn to employers

Businesses from all the major economies, including the UK, are losing billions of pounds through recruitment errors. This is mainly caused by employees’ inability to adapt and retrain for new roles and industries.  PwC and LinkedIn released the study, Adapt to Survive, this week. It looks at a profile of 277 million professionals and 2,600 … Continue reading

Long-term unemployment in US since 1950 – A chart

This FRED graph divides unemployed (civilian) workers according to the duration of their unemployment spell. The number of those unemployed for 27 weeks or more is still very high, while the other categories have recovered to normal levels. This level of persistently elevated unemployment is different from that during previous recessions, and there may even … Continue reading

Long-term unemployment – Why does it matters

Evidence is mounting that the long-term unemployed aren’t merely the short-term unemployed with the addition of a little waiting time. They are in a very different situation – and an alarming one at that. Researchers in the US are setting the pace on this topic, because it is in America that a sharp and unique … Continue reading

US Jobs Gap in March 2014 – 7.4 million jobs says the Hamilton Project

As of the end of March 2014, our nation faces a jobs gap of 7.4 million jobs. This chart shows how the jobs gap has evolved since the start of the Great Recession in December 2007, and how long it will take to close under different assumptions for job growth. If the economy adds about … Continue reading

UK – A closer look at the rise in self-employment

Government ministers like to talk about the jobs created on their watch, but over the last few years lots of people have been creating their own jobs. Three quarters of the increase in employment since 2008 has come from self-employment. Source: ONS employment statistics Some have hailed this as the sign of a new entrepreneurial … Continue reading

Temp Jobs in US – Expect surge to continue

The surge in contract and “temp” jobs since the recession ended is likely to continue, a range of experts have said, in part because of slack in the labor market and decisions by many corporations to maximize flexibility in their work force. CareerBuilder and Economic Modeling Specialists Intl. said in a new forecast on Thursday … Continue reading

US – Occupational concentration by industry

Several different measures are available for examining the industry and occupation relationship. Traditional tools include measuring the share of total occupational employment found in a given industry, as well as the share of total industry employment made up of a specific occupation. For instance, 62 percent of registered nurses were employed in hospitals in May … Continue reading

Millennials in US – Detached from institutions, networked with friends Pew finds

The Millennial generation is forging a distinctive path into adulthood. Now ranging in age from 18 to 331, they are relatively unattached to organized politics and religion, linked by social media, burdened by debt, distrustful of people, in no rush to marry— and optimistic about the future. They are also America’s most racially diverse generation. In … Continue reading

The Missing Workers in US – 5.8 Million with vast majority under 55

Since the start of the Great Recession over six years ago, labor force participation has dropped significantly. Most of the drop—roughly three-quarters—was due to the lack of job opportunities in the Great Recession and its aftermath.   There are now 5.8 million workers who are not in the labor force but who would be if job opportunities were … Continue reading

The Skills Gap – North America is the only place in the world that thinks of companies as consumers of skills

There’s a very slim volume out from Wharton Press called, Why Good People Can’t Get Jobs.  It’s by Peter Cappelli, a management professor from the University of Pennsylvania, who adapted the book from a series of articles he wrote for the Wall Street Journal in 2010 and 2011.  The book takes a simple “myth-busting” approach to … Continue reading

Workforce Training Investments in US / A comparaison

We spend $3. billion in federal funds to prepare people for million jobs (4%) that require middle- skill training. That’s enough to train 451,000 people, a small fraction of the 16 million who could benefit from investments in access to training. We spend $ billion in federal funds to prepare people for 5million jobs (3%) … Continue reading

Europe / The most effective way of boosting jobs is to get growth going again says IMF

A new book called “Jobs and Growth: Supporting the European Recovery,” authored by IMF staff, analyzes today’s challenges head-on and proposes a roadmap for the continent’s recovery.The book and its roadmap should contribute to the ongoing debate around these pressing issues. The book’s analysis is informed by the relationship between jobs and growth, which is … Continue reading

The Fastest-Growing Jobs in the US / A Closer Look

Hospital rooms, shopping floors, and fast-food counters: This is where the future of U.S. employment lives. But there are two catches Continue reading

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